RightIndem teams up with Mastercard to Speed up Insurance Claim Payments
RightIndem, the digital insurance claims platform, has announced a partnership with Mastercard to make sending and receiving insurance claim payments quicker and easier. Leveraging Mastercard Send, the industry-leading real-time digital payments service, RightIndem will facilitate faster payments between their insurance partners and their customers, reducing cost and time for insurers and speeding up the transfer of funds to customers.
In a competitive marketplace, where consumer expectations of efficiency and personalisation are higher than ever, insurers are taking steps to secure satisfaction and loyalty. Technology and partnerships are helping them to reimagine the customer experience, by embracing digital platforms that provide greater claim visibility, integrating real-time payments, and providing value-added services.
The claim disbursement process has historically been lengthy and confusing for customers, leaving insurers managing a high volume of enquiries, and consumers out of pocket. Through this collaboration, RightIndem will leverage Mastercard Send to provide speed, choice, and a smarter way to send money domestically and cross border, transforming the claim disbursement process. The technology will enable RightIndem’s insurer partners to deliver a hassle-free claims experience that sends funds quickly and securely to policyholders when they need it most, giving them greater peace of mind.
Commenting on the collaboration, Oliver McGuinness, CEO RightIndem, said: “RightIndem is committed to improving the experience for our partners and customers through enhanced claims supply chain capabilities. By partnering with Mastercard and integrating the Mastercard Send service, our partners can deposit funds in near real-time, simplifying claim management for insurers, providing quicker access to funds for consumers, and improving cash-flow for businesses.”
With Mastercard Send, insurers using the RightIndem platform will be able to disburse funds directly to policyholder cards or bank accounts, for immediate payment of insurance claims upon settlement.
Ian Slater, SVP Enterprise Partnerships, Mastercard, said “Mastercard is applying its digital innovations and data analytics capabilities to the insurance industry, partnering across the sector to help organizations evolve in an increasingly competitive marketplace. We are thrilled to join forces with RightIndem, combining our expertise and technologies to digitally transform claim disbursements, providing secure, real-time payment services for insurers, and speeding up the claims payment process for consumers.”
Mastercard Send provides consumers and businesses – such as insurers - with fast, simple and secure ways to send and receive money domestically and internationally, and is part of the application layer within Mastercard’s multi-rail proposition.