ClearPay

Pay and Receive your payments electronically

Receive and send payment and reconciliation data directly from your brokers and to your carriers without ever leaving your BMS.  ClearPay is designed specifically for the insurance industry as a closed environment to transfer both funds and the settlement information.

Receiving:

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.

Sending:

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.

Features

Transactional cloud based solution with easy implementation and a seamless integration to most BMS’s just to name a few.
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Benefits

Saving MGA’s time, money and improving security. ClearPay eliminates cheque fraud, enhances operational efficiency, reduces settlement delays and improves receivables collection time.
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Process

ClearPay payments are initiated by brokerages and MGA’s from within their BMS.  Transferring funds and policy data directly to the MGA’s and 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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Savings Calculator

Often the hard and soft costs associated with cheques are not recognized. Judge for yourself, try our calculator to see how much a cheque costs you to write.
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