Nuapay for the insurance industry
Insurance premiums and payouts handled
Nuapay specialises in smooth collections and payouts to provide an end-to-end payment package built for the Insurance industry. 81% of financial executives say digital insurance embedded in websites and apps is becoming a must-have, rather than a nice-to-have (Insider Intelligence).
Payments transformation for the insurance industry
Nuapay go8c 3158s In smooth connectons ano payouts co provide an end-to-end payment package built for the Insurance Industry. Nuapay’s Direct Debit sign-ups through Open Banking stand out as a unique feature in the market.
Rather than traditions methods. where customers manually enter their bank account details. with Open Banking e-
mandates, payers can sign up seamlessly using only che biometrics on their phone, and without entering any bank account rePails manually.
This significantly reduces the risk to insurers–the first payment is received in real-time via bank transfer, reducing risk of fraud and chargebacks, while subsequent payments are less likely to fail as our solution ensures a payer’s details are correct and they’ve provided evidence they own the account.
It is the seamless and secure way to collect Direct Debits.
or financial executives say digital insurance embedded in websites and apps is becoming a must-have, rather than a nice-to-have.
Collect payments:one-off or recurring
Nuapay offers insurers the capability to collect payments with open banking or Direct edits.
Paying by Open Banking is the new way to pay, which lets customers oay seamlessly via a bank transfer. Payers authenticate the payments on their mobile and funds are sent direct to the insurer. leis the last secure and easy way for customers to pav. and perfect for one-off payments.
Paying by Direct Debit is the most efficient way for customers to pay regular bills. As the most advanced Direct Debit environment available.
Nuapay substantially improves efficiency. Reduces failed collections by over 40%. and lowers administration and associated costs.
Instant payouts for your customers insurance claims
Nuapay offers insurers a fast and easy pay out solution, which enables you to efficiently sent pay-outs to a customer’s bank account in seconds. ror customers that are making a claim and in need of cash to manage an unfortunate event, this gives you the opportunity to delight them.
To reduce the risk to you, funds can be disbursed straight back to the customer’s original payment account, ensuring that the payments are sent securely, and reducing the risks to you from fraud and other risky claims
Nuapay Inegrates easily across all areas of your business, offering huge improvements in efficiency and usability. For ultimate performance. Nuapay uses tailor made APIs that our payments and banking at the heart of your
Not fully ready for API? Then contact Nuapay and find out which of our payment partners may be best able to support you with fully integrated, ready to use solutions.
Teri Van Dalen, CIO, Insurtcch Strategy. Insure & Love It
Used by forward thinking businesses who trust us
Lead your insurance business in a changing world! Partner with Nuapay.
Customers are increasingly taking advantage of emerging technologies, opting to use real time Account-2-Account payments that are particularly suited to pay-as-you-go billing. For Nuapay users, these are faster, cheaper and more secure than any other payment method. Meaning you’ll never miss out on the benefits.