Digital Payments for the Insurance Industry

Digital Payments for the Insurance Industry

Digital Payments for the Insurance Industry

The FINANCIAL --  Dream Payments, a digital platform for banks and insurers, announced that it has released a simpler way for insurers to optimize their claims systems and offer digital payments to consumers. With the Dream Claims Payment API, the first of its kind exclusively for the insurance industry, insurance companies can now more easily connect to the Dream Payments Hub and Mastercard Send, which is a global push payments platform that facilitates the delivery of funds in near real-time to virtually all domestic debit card accounts in the United States.

It is estimated that each year, insurers pay out over $1 trillion of insurance claims through slow and inconvenient checks. With just a few simple lines of code, insurers can streamline the process and add immediate, digital payments to their claims systems, creating a better consumer experience.

Travel Insured International, a U.S. based travel insurer will be the first insurer in the U.S. to deploy real-time disbursements to their customer base using the Dream Claims Payments API. “Our focus is to consistently take our customer experience journey to the next level, and continuously work to provide innovative solutions to anticipate and fulfil our customers’ ever growing needs. In the age of instant gratification, partnering with Dream Payments is allowing us to provide real time satisfaction, while building trust and loyalty with our customers.” commented Jon Gehris, CEO of Travel Insured.