Receiving Payments

 

1) Custom Designed for Insurance Industry:

  • Closed system that can only process payments from brokerages to carriers
  • Works with multiple systems and accounts
  • Carrier settled – funds are pulled by Carrier

2) Customize and Mange Users:

  • Designate and manage users
  • Customize user settings to determine access levels and notifications

3) Real Time Notifications:

  • You receive full notice of pending payments upon brokerage authorizing payment
  • Policy data is directly associated with payment

4) Access and Manage Payment Reports:

  • View real time reports that identify payment stages as pending, authorized or deposited
  • Access associated policy data needed for reconciliation
  • View historical deposits by brokerage (filter search criteria)

5) Automated Reconciliation Report:

  • Choose file format to receive data
  • Direct web services feed available for straight through processing

6) Bank Level Security:

  • ClearPay utilizes a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocols
  • Funds are transferred based on established and safe banking procedures
  • Read more about ClearPay security

Sending Payments

 

1) Seamless Integration to BMS:

  • Ability to integrate to all major BMS’, allowing for brokers to start + finish within the BMS.
  • ClearPay runs silently in the background.

 

2) Easy Installation:

  • Easy automated wizard driven installation and set-up
  • No upfront costs
  • Local installation of connectivity tool to provide data to generate electronic payment and transmission of relevant policy data.

3) Pay Electronically:

  • Funds are transferred using existing banking protocols.
  •  Broker authorized – payment amount and deposit date are controlled by broker

4) Multiple Users with Customized Authority Levels:

  • Choose differing levels of authority in the brokerage – ability to view only, generate payments, or approve payments.
  • Remote approval.
  • Designated authorities in brokerage can approve payments wherever you have an internet connection – phone, tablet or computer.

5) Automated reconciliation report:

  • Data and funds are transmitted based upon brokerages entries into BMS.
  • Carriers receive real-time reconciliation reports in their preferred format.

6) Bank Level Security:

  • Funds are transferred based on established and safe banking procedures.
  • ClearPay utilizes a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocolsRead more