A set of payment solutions for a complex payment environment

P&C companies often operate under multiple company names reflecting multiple lines of business: HomeOwners; Auto (commercial and personal); and Property (commercial and personal). P&C insurance companies typically issue payments to claimants, insureds, vendors and agents/adjusters, and PayPilot helps keep all the payment information for these companies and payees in sync. By linking back to the general ledger, in addition to the various claims systems, all payment status information is available from its originating system.

The Paperless Office

Companies have been talking about the “paperless office” for years. With PayPilot, it becomes a reality. The software’s foundation is an integrated database of payment information which eliminates the need to retain paper file copies. At any time, users can quickly look up any payment in the system, access all the information, and print whatever they need.

Because all payment details can be automatically uploaded back to originating systems, you won’t waste time looking for payment status. You’ll know at a glance whether a payment has cleared or is not paid. PayPilot can also be linked to an imaging system so your users can see copies of payments issued at any time.

Manage the Flood

The more payments you process (and the more manual the process), the more challenges you face. For one, reconciling your bank accounts becomes an incredibly time-consuming, tedious task, particularly when state escheatage requirements are factored in. PayPilot’s bank reconciliation feature automates most of what you do manually today, including producing specialized registers of cashed and uncashed checks and customized escheatage reports.

High check volumes also increase the potential for fraud. Manage this threat with PayPilot’s Positive Pay security feature. You send secure payment files to your bank so that no funds are exchanged unless presented checks exactly match the data in the file. For more information, read our Positive Pay page in the Products section.

Keep Your Agents Happy

You know how important your agents are in the retention and growth of your book. Use PayPilot to build on your already strong agent relations. Instead of sending out multiple commission checks, consolidate them into one—or better yet, convert them to a single electronic payment. Receiving consolidated payments, your agents can spend more time acquiring new policies.