What’s Happening and How Rellevate Can Help
The Insurance sector is now placing an even higher importance on instant claim payouts and increased policyholder satisfaction resulting from a zero-cost out-of-pocket experience. 82% of large Insurance carriers and 77% of small carriers are now forging new or expanded partnerships with FinTech companies to accelerate and help navigate their real-time payment process
The move to FinTech partnerships and real-time disbursements also accommodates the growing interest in ’embedded insurance’ and other non-traditional insurance arrangements. As these products become more ubiquitous, more executives recognize their substantial revenue potential with 81% of executives predicting that embedded insurance will quickly morph from a “nice-to-have” to a “must-have”
The Importance of the Right FinTech Partnership:
Going Instant may seem like a simple solution but implementing real-time disbursements can be a formidable challenge, with insurance companies facing issues such as high implementation costs and a lack of transparency
Revolutionizing Real-Time Insurance Disbursements with Rellevate
With Rellevate, insurers can expect:
✓ Seamless Claim Settlements: Digital transfers for quick claim payouts with multiple disbursement options including digital wallets and prepaid debit cards
✓ Enhanced Security and Compliance: Advanced encryption and fraud prevention measures
✓ Enhanced Fraud Monitoring: Real-time transaction tracking and reporting
✓ Cost-Effective Processing: Reducing the administrative burden and operational costs by eliminating check printing and mailing expenses. Streamlining reconciliation and accounting processes
✓ Improved Customer Experience: 24/7 access to funds for claimants and multi-lingual support for diverse customer bases
✓ Seamless Integration: Smooth integration with existing processes and scalable solutions for insurers of all sizes
