Allstate Stakes Claim on Mobile Payments

Allstate is taking insurance claims mobile.

The company has launched Fast Mobile e-Payment, a part of the new Allstate ExpressPay portfolio, which allows customers to have the insurer send payment directly to a bank account. Allstate said the service is the first of its kind in the United States and it shows how insurers are stepping up efforts to meet the demands of consumers who are growing increasingly comfortable with using mobile devices for important matters, including insurance claims.

Said Justin Herndon, an Allstate spokesman: “Fast Mobile e-Payment allows us to get the spendable funds out faster than any current method. That means added convenience for people who want to be paid by this method.”

“More than half of our customers use a smartphone,” Herndon continued. “More and more, we’re seeing customers and consumers get connected and we want to be on the leading edge of innovation – offering solutions before consumers even know they want it.”

Fast Mobile e-Payment eliminates delays that can occur with snail mail and lost checks by requiring only an email address or mobile phone number to process a payment. It works with any bank to handle Allstate auto and property insurance claims that have a single payee.

“This new payment method works for all claims and all coverages – auto, property, catastrophe – any claim with a single payee,” Herndon said. “This means I can pay you and your lienholder or body shop separately, but I can’t pay two of you with the exact same payment – each payment is tied directly to a single bank account, but there can be multiple payments.

“Essentially, everything I can do today but much faster.”