A Leading Insurer Transforms Its Payment Processes
A large east coast-based property and casualty insurer embarked on a major payments transformation to improve its payments process and policyholder experience. The insurer was seeking a partner that shared its dedication to policyholder satisfaction and selected the ACI Speedpay solution to increase the reliability of its payments platform and speed the development of innovative payment options.
“We wanted to make sure we were buying technology that would not only survive but thrive.“
A large east coast-based property and casualty insurer was experiencing reliability issues from its long-term payments partner. And as it began to look into expanding its geographic footprint, it realized it needed to provide more options and functionality to policyholders.
After consulting with multiple departments, including IT staff and contact centers, the insurer chose the ACI Speedpay solution to meet its needs. Through this solution, the insurer was able to add to its payment offerings and streamline processes.
75% of policyholders have indicated that they either “liked” or “loved” the new payments experience, and the insurer estimates that time spent addressing policyholder billing questions has decreased by up to 90%. The insurer has also seen its Net Promoter Score increase significantly in the last six months.