MODERNIZE YOUR CLAIM PAYOUT WORKFLOW
Gain a Competitive Edge by Offering Claim Payout Optionality
Modernize the way your organization issues insurance claims to consumers and businesses around the world with PayPal’s digital claims payout capabilities, powered by Hyperwallet. With payment optionality, insurers can help reduce the overhead costs associated with traditional claim check processing and disbursements, while still maintaining the controls needed to help satisfy regulatory requirements.
Read our guide to see how PayPal’s payout capabilities help insurance providers to:
- Improve customer satisfaction by delivering a digital payout experience
- Streamline the internal administration of claims payouts
- Move away from issuing checks and offer faster payout methods
- Offer payout optionality for claim payments through direct bank deposits, PayPal, direct to debit, Venmo, and traditional check payments
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WHAT WORKS FOR INSURANCE AGENCIES
Empower Your Claimants
Configure PayPal’s payout capabilities to notify claimants as soon as their payments become available. With Hyperwallet’s technology, your company can provide claimants fast, self-service access to disbursed funds via 1 of 9 available payout options. This functionality can easily be embedded directly into your existing website or through Hyperwallet’s Pay Portal Payout Experience.
Reduce Claim Overhead
Issuing checks is a long, manual, and paper-intensive process. Hyperwallet can help you reduce the costs associated with issuing claims, while also decreasing the frequency of lost or returned disbursement payments.
Improve Customer Satisfaction
Claims payouts can be issued quickly and easily, thanks to Hyperwallet’s 9 available payment methods. This helps reduce customer service inquiries, an important factor in overall customer service.
Streamline the Approval Process
PayPal’s insurance payout capabilities are built on a role-based user hierarchy defined by data access restrictions. This makes it easy for insurance organizations to preserve a multi-layer approval process and/or restrict data visibility to only approved administrators.