Real Time Matters: The Imperative for Instant Disbursements for Insurance

Eight in 10 Insurers Seek FinTech Partners for Instant Payment Plays

Instant insurance payouts benefit both customers and carriers by enhancing both speed and efficiency, but barriers such as costs and complexity are blocking the way to their adoption — especially for smaller insurers. The latest “Money Mobility Tracker®,” a collaboration with Ingo Payments, explains how insurance companies are jumping these hurdles by collaborating with FinTechs to facilitate instant payments implementation.

Inside the February/March Tracker
  • Real-time payouts could be a boon for insurers and their customers, but putting these payments into practice has its difficulties.
  • Despite the challenges inherent in instant payment systems, many insurers are making moves in the real-time space.
  • Implementing real-time disbursements can be a tall task for insurers’ accounting teams, prompting many to partner with FinTechs to address this hurdle.