Payments

Insurance companies must take a fresh look at the billing and payments experience.

When it comes to disbursements many insurers are still relying on outdated processes.

Actionable strategies for insurers to enhance loyalty.

Insurers that invest in modernizing how funds are held, moved, and monitored will be the best positioned.

Rob Abrams, CEO of J.P. Morgan Mobility Payments Solutions, is overseeing the development of in-car wallet systems that turn cars into rolling credit cards. He explains his vision of what connected cars could look like and do in the future.

Paper checks can delay the claims payment process for policyholders, but many companies are still hesitant to move to a digital payment system.

Many people are jumping on the AI bandwagon without asking the most basic questions. FICO Chief Analytics Officer Scott Zoldi, who holds a Ph.D. in theoretical and computational physics from Duke University, has been in the business long enough to see the warning signs.

The rapidly increasing expectations of policyholders and agents have accelerated the need for transformation.

The digital payments network serving insurers' claims and premium payments saves carriers operations costs and expedites claim payouts.

There are three unique payments workflows that complement different types of business models.

Paper checks continue to comprise a significant portion of transactions in the P&C sector.

The shift to electronic insurance payouts is an undeniable win-win.

Making payments is the cornerstone of the customer experience in insurance and digital engagement is vital.

The Consumer Financial Protection Bureau, the Treasury Department and the Department of Health and Human Services released a request for comment on medical debt financing products. At the same time, the White House said that the agencies will explore whether efforts to sign up customers are breaking the law.

By digitizing the payout process, insurers empower claimants to choose how money is received.

As incentive marketing and payments preferences change, Geeta Chandan, vice president and head of product and loyalty at Discover, will join us at American Banker's Payments Forum to discuss opportunities and challenges. interview at Payments Forum

The Consumer Financial Protection Bureau is advising consumers to transfer money stored on nonbank digital payment apps such as PayPal, Venmo and Cash App to insured banks and credit unions.

Companies holding a Bitlicense will have to follow similar standards for consumer protection, safety and soundness, and pay more to cover the cost of regulations.

The bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.