1) Save Time:
- Eliminate cheques and need for employees to do bank runs.
- Reduce needless communication between accounting departments of carriers and brokerages as to payment status or location of cheque
- Receive reconciliation data in one format for ease of processing
2) Save Money:
- No need to receive, store and deposit post dated cheques
- Significantly reduce deposit costs
3) Simple Implementation:
- No upfront costs
- No IT involvement or integration work
4) Improve Broker Relations:
- Promote ease of doing business and working in sync with your brokerages
- Shift focus of saved resources to more value enhancing activities
- Instantly provide all your brokers the ability to pay you electronically
5) Added Security:
- Electronic settlement eliminates cheque fraud
- Employee safety, staff no longer have to walk cheques to the bank
6) Improve Treasury Operations:
- Greater accuracy in forecasting cash flows with real time access to deposit schedule
- Optimize cash balances to higher interest rate products
- Instantly associate payments with related policies
ClearPay
