Receive your premiums receivable and reconciliation data electronically directly from your brokerages, the same way everyday.
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.
Transactional cloud based solution with NO IT implementation and a consistent data reconciliation report
Saving Carriers time, money and improving security. ClearPay eliminates cheque fraud, enhances operational efficiency and improves receivables collection time.
Here is a list of common questions and answers about ClearPay, or just reach out to us, we’re happy to help.
ClearPay uses bank level security and encryption standards to securely transfer funds and data
We are excited about simplifying the premium payment process for the P&C Insurance Industry. Brokers will love the ease of paying company payables and carriers can enjoy receiving electronic funds and related policy data, the same way from every brokerage.John Knotek - CEO