In today’s digital economy, consumers expect a certain type of experience when paying for products or services online. From shopping online for that favourite pair of shoes to paying their insurance premium via a text message, the ability to get tasks done quickly and easily is the key to keeping them happy.
Give your clients a superior payment experience with Applied Pay®, the insurance industry’s most versatile digital payments platform. Applied Pay provides a safe, convenient way for insureds to pay their premiums online from any device and integrates seamlessly with Applied Epic® and Applied CSR24®. Collecting premiums should never be the most challenging part of what you do. Supercharge your collection process today with Applied Pay and reduce the effort, errors and liability associated with the entire payment process.
Key Benefits
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Enhance branding and upsell opportunities
Offer branded checkout pages hosted online, where your insured users can experience the type of modern checkout experience internet-savvy clients have come to expect. Create marketing opportunities to upsell related items and interact with clients at an emotional moment, enforcing your role as a trusted advisor.
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Repurpose accounting tasks
Ready to repurpose your accounting team for more valuable efforts? With Applied Pay’s automated workflows, time spent notifying customers of payment due dates and reconciling transactions back to your broker management system is a thing of the past. Now you can have your staff spend that time doing tasks that bring greater ROI to your brokerage.
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Cut costs and realize profit quicker
Shorten collection time, reduce cheque processing tasks, and speed up deposits. Automated accounts receivable reconciliation reduces workload inefficiencies and eliminates the need for specialized personnel to manage payments.
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Standardize all payments data into one place
Gain greater insight into all your organization’s broker bill data by viewing all digital payment transactions in one place. Through Applied Pay’s Broker Portal, you can view transactions in real-time. Offer refunds, send receipts, and issue notifications, from one easy-to-navigate dashboard.
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Reduce E&O and increase security and compliance
Improve back-office efficiencies by reducing human error and omissions that often occur with manual input. Safeguard data integrity and avoid fraud/liability with Applied Pay’s state-of-the-art security measures. Operate stress-free, knowing your data processing complies with the Payment Card Industry Data Security Standard (PCI DSS) and Electronic Funds Transfer (EFT) regulations.
Capabilities
Product Integration
Applied Pay is built with robust, scalable APIs designed for seamless integration with Applied Epic and Applied CSR24 platforms, enabling fast and efficient payment processing.
Payment Flexibility
Equipped with flexible payment options, including Apple Pay, Google Pay, EFT, and credit and debit cards, Applied Pay gives your customers the power to pay how they choose. It also offers powerful features like next-day funding, split funding into multiple accounts, paying multiple invoices at once, and the option to set up recurring payments.
Real-Time Visibility
Easy-to-use dashboards let you access the right data at the right time. Real-time snapshots of all your payment transactions as they occur appear in the admin portal, helping to safeguard against policy lapses and defaults in coverage.
Compliance
The securitization and tokenization of sensitive data reduces liability for brokers and handles PCI DSS and ETF regulations. Because sensitive information is protected, Applied Pay helps you remain compliant while accepting digital payments.
Expedited Settlement
Accounts receivable process automation simplifies and speeds up premium collection and reduces internal workloads, so you can settle your payments fast and drive a more profitable book of business.
Hosted Payments Page
The payment checkout page is secure, highly intuitive and hosted on your website. With a unique URL branded to your brokerage, clients can pay their premiums safely and easily.
Accounts Receivable Reconciliation
Invoices are tagged within the system and sent to payees for payment. When payment is complete, the system then returns the transaction status back to the invoice and automatically reconciles.
Ready to Learn More?
When you’re ready to learn more about leveraging advanced insurance software and solutions to build a better insurance business, we’re here to help.