Innovations coming to insurance payments

It’s time to replace the tradition of issuing paper checks to settle insurance claims because it’s inefficient, costly and can lead to dissatisfied policyholders. Checks are slow and each settlement check can cost the insurance carrier anywhere from $5 up to $12 or more. Consider that a claim might necessitate the issuance of multiple checks and it’s easy to see how the fees and processing costs can add up in no time.