ClearPay

Receive payments from brokerages electronically

Receive premium payments and corresponding reconciliation data directly from your brokerages.  ClearPay is designed specifically for the insurance industry as a closed environment to transfer both the funds and the settlement information.  The service provides the brokerage the ability to establish the amount payable, date and electronically approve payments to carriers.

ClearPay transfers funds from the brokers’ designated bank account to the Carrier.  This is both for monthly receivables and one-time payments.  The ClearPay platform compiles and delivers reconciliation data in the expected format to assist with reconciling the payment in Carrier’s accounting and Policy Administration Systems.

Features

Transactional cloud based solution with NO IT implementation and a consistent data reconciliation report
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Benefits

Saving Carriers time, money and improving security.  ClearPay eliminates cheque fraud, enhances operational efficiency and improves receivables collection time.
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Process

ClearPay payments are initiated by brokerages from within their BMS.  Transferring funds and policy data directly to the carriers in a secure closed environment.
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FAQ

Here is a list of common questions and answers about ClearPay, or just reach out to us, we’re happy to help.
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Security

ClearPay uses bank level security and encryption standards to securely transfer funds and data
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Cost Analysis

Often the hard and soft costs associated with cheques are not recognized. Judge for yourself, compare ClearPay to your current process and costs.
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