Utilized Programs updates funds hub

Applied Systems has introduced the newest replace to Utilized Pay. The brand new launch will simplify the accounting and invoice assortment course of and add verification and transaction restrict enhancements, Utilized stated.

Utilized Programs touts Utilized Pay, launched in 2022, because the insurance coverage business’s solely natively built-in funds resolution. A cloud-based funds hub, Utilized Pay permits brokers and brokers to offer their shoppers with a safe, on-line methodology to pay premiums.

Utilized Pay is immediately built-in into Utilized Epic, Utilized CSR24 and EZLynx Client Center, and gives branded checkout pages the place policyholders pays premiums by textual content hyperlink, credit score/debit card or ACH, Applied said in a news release. Utilized Pay additionally reconciles receivables on the account degree, which may scale back guide workflow and enhance accuracy and scale back the time wanted to reconcile funds.

Utilized Pay options launched in 2023 embody:

• Accounts receivable reconciliation: Automates the appliance of credit to debits on a shoppers account as soon as a cost has been made. Accessible on Utilized Epic, Utilized CSR24, Pay Portal Hosted Cost Web page, and EZLynk workflows
• Three complimentary Utilized Epic workflows: Distinctive workflows that complement completely different enterprise fashions

  • Agent-led workflow: Permits funds to be managed from inside a shopper’s account in Utilized Epic by the Cost from Consumer display screen
  • Insured-led workflow: Permits shoppers to log in and make a cost from throughout the Utilized CSR24 Consumer Heart
  • Unbiased workflow: Distinctive hosted cost web page hyperlink may be despatched to anybody, anyplace to gather a cost

• Hosted cost web page “pay now” hyperlink: Permits insureds to pay single or a number of invoices which can be open in Utilized Epic, or request a precise quantity for objects resembling third-party charges Funds may be robotically utilized to a shopper’s account, or an exercise and/or transaction may be returned for accounting functions
• Enhanced notifications: Notifications will present extra readability with refined viewers, content material and supply of e mail and batch notifications, permitting employees to make higher choices with correct info
• Insured private portal: Permits insureds to handle their cost profile, retailer most well-liked cost strategies and consider their cost historical past
• Compliance and threat monitoring: Safety and tokenization of delicate information reduces legal responsibility for brokers and handles PCI compliance
• ACH verification: Verifies a buyer’s checking account and routing particulars in actual time
• Firm-branded URL: Select the title related to the corporate’s “pay now” cost hyperlink
• Permits massive single transaction limits: Permits the processing of extra-large premiums, enabling bigger shoppers to make funds with out utilizing different banking companies

Learn subsequent: How can AI be safely integrated into an insurance workplace?

“We developed Utilized Pay with the aim of placing brokers within the driver’s seat of the cost journey whereas offering a contemporary checkout expertise that their internet-savvy shoppers have come to anticipate,” stated Chase Petrey, president of Utilized Pay. “The most recent Utilized Pay improvements provide extra cost decisions when gathering and making use of premiums, making a safe, frictionless and speedy course of for each brokers and insureds.”

Have one thing to say about this story? Tell us within the feedback under.