eChecks from DPX are digital deposits that speed claims payments to your policyholders. Offer your claimants what they want — data security and expedited payments — with eChecks from the Deluxe Payment Exchange.
FEATURES & BENEFITS
Fast and easy for your claimants, eChecks are cost-effective and won’t disrupt your insurance payments business processes. It’s a win-win that puts the customer experience at the forefront and keeps it there.
Boost NPS with a fully digital payment experience. As soon as claims are approved, payments can be issued by adjusters and received in seconds
Clients recover quicker from crisis receiving claims payments immediately in the manner they choose, via credit card, debit card, direct deposit (ACH), or printing eChecks.
Migrate claims payments from paper checks to digital without disrupting claims and accounting systems. DPX seamlessly integrates with leading core insurance systems.
DPX delivers and manages the most popular payment methods for claimants to choose from, while integrating seamlessly into insurance core systems and meeting unique carrier needs.
PYMNTS.com Disbursement Satisfaction Index 2018
Deluxe Payment Exchange is simple. Payments can be made as easily as sending an email, and recipients can accept them however they choose–Direct Deposit (ACH), Deposited to Visa debit or credit card or printed out as a live check.
Understand emerging digital expectations from claimants and how DPX is the best choice for quickly, cost-effectively digitizing payments without disrupting business processes.
Listen to Deluxe experts discuss in 12 minutes the challenges insurance companies face when moving from issuing claims payments by paper check to digital payments. Learn how we helped a Fortune 500 insurance carrier avoid these pitfalls in their journey of issuing digital claim payments.
Learn how to deliver faster, flexible payments to policyholders and claimants when it matters most.
Our customers that select the eCheck option have been happy with the experience, and the cost savings is noticeable as well, since a paper check can cost us $5-$8 to issue.
Vice President of Product , Shipsurance
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FREQUENTLY ASKED QUESTIONS
Insurance companies need to make payments based on the contractual agreements with claimants. To manage this payment disbursement process, insurance companies often use software and/or third-party providers to support the effort.
eChecks are a great tool to use for insurance payments. In Property and Casualty insurance scenarios, the claimant is often in need of a fast payment so they can quickly replace their car or fix their home.
DPX payment notifications are sent via email – so eChecks can be issued immediately after the claim is approved for payment (no more waiting for the check in the mail). The claimant also has a choice in how to deposit funds. They can choose to print the check for in-bank or remote deposit, directly deposit to their bank account via ACH or opt for instant payment to a PayPal account.
The Automated Clearing House (ACH) network is an electronic, bank-to-bank money transfer process. It’s a batch processing system that banks and other financial institutions use to collect ACH transactions, processing usually happens multiple times each business day. ACH payments are often free (or a small cost) and quick, but you may run into transaction limits. ACH payments are not instant and typically take one business day to process, timing is dependent on a financial institution’s processing timeline.