Receive premium payments and corresponding reconciliation data directly from your brokerages. ClearPay transfers funds from the brokers’ designated bank account to the MGA. 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 the MGA’s accounting system.
ClearPay also provides your MGA the ability to securely set payee, amount, date and electronically approve payments to your Carriers. ClearPay transfers funds from the MGA’s designated bank account to the carrier for monthly payables or one-time payments. In addition, ClearPay compiles and delivers reconciliation data to the Carrier’s accounting and policy administration system.