Utilized Programs updates funds hub

Utilized Programs 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 trade’s solely natively built-in funds answer. A cloud-based funds hub, Utilized Pay permits brokers and brokers to supply their purchasers with a safe, on-line methodology to pay premiums.

Utilized Pay is straight built-in into Utilized Epic, Utilized CSR24 and EZLynx Consumer Middle, and gives branded checkout pages the place policyholders pays premiums by textual content hyperlink, credit score/debit card or ACH, Utilized stated in a information launch. Utilized Pay additionally reconciles receivables on the account stage, which might scale back guide workflow and enhance accuracy and scale back the time wanted to reconcile funds.

Utilized Pay options launched in 2023 embrace:

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

  • Agent-led workflow: Permits funds to be managed from inside a consumer’s account in Utilized Epic by the Cost from Consumer display
  • Insured-led workflow: Permits purchasers to log in and make a fee from throughout the Utilized CSR24 Consumer Middle
  • Unbiased workflow: Distinctive hosted fee web page hyperlink may be despatched to anybody, wherever to gather a fee

• Hosted fee web page “pay now” hyperlink: Permits insureds to pay single or a number of invoices which might be open in Utilized Epic, or request a precise quantity for gadgets similar to third-party charges Funds may be routinely utilized to a consumer’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 electronic mail and batch notifications, permitting employees to make higher selections with correct data
• Insured private portal: Permits insureds to handle their fee profile, retailer most popular fee strategies and look at their fee historical past
• Compliance and danger monitoring: Safety and tokenization of delicate knowledge 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 identify related to the corporate’s “pay now” fee hyperlink
• Permits massive single transaction limits: Permits the processing of extra-large premiums, enabling bigger purchasers to make funds with out utilizing different banking companies

Learn subsequent: How can AI be safely built-in into an insurance coverage office?

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

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