ClearPay Brokerages to Provide Carriers Seamless Electronic Payments with Remittance, Directly from Applied Epic

Customer-driven digital strategy enables anywhere, anytime customer service at each stage of the insurance lifecycle

Toronto, ON (Mar. 4, 2016) – ClearPay, the Canadian leader in automating payment settlements for the Insurance Industry, has announced that insurance brokerages running Applied Epic, the fastest-growing cloud-based brokerage management system, will be able to issue electronic payments and automatically send remittances to insurance carriers via the ClearPay solution in the second half of 2016.

Brokerages will be able to electronically pay their monthly premium payables, one-off direct bill payments, and policy down payments, along with reconciliation data seamlessly and easily directly from their Applied Epic system, with the ClearPay functionality.

For Carriers, ClearPay automates incoming Brokerage payments and standardizes the settlement data they receive, ensuring incoming funds can be easily associated with the policies being paid, resulting in efficiency gains.

“Our focus is on making insurance industry payments easy and seamless, through integration with existing workflows,’ said John Knotek, Chief Executive Officer of ClearPay. “With brokerages and carriers looking for improvements in their payments and reconciliation processes, the integration of ClearPay with Applied Epic creates security, efficiency, and savings for brokerages and their insurer partners.”

The addition of this integration further demonstrates ClearPay’s commitment to a better way for brokerages to pay Carriers and simplify reconciliation for the entire industry.

“Today’s brokerages require a single application with integrated capabilities that drive operational efficiencies and improve customer service,” said Jeff Purdy, Senior Vice President of International Operations, Applied Systems. “The integration of ClearPay’s payment settlement service into Applied Epic continues our commitment to drive greater connectivity across the insurance distribution channel.”

About ClearPay

ClearPay is an independent Canadian company created by professionals with years of experience in the insurance and banking industries to automate payments and account reconciliation for the insurance industry. Through integration with major brokerage management systems, brokerages can use existing workflows and gain the benefits of advanced technology to eliminate the multiple step, paper based processes currently used by brokerages today. For more information, visit clearpaycanada.com.

About Applied Systems

Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and data exchange between brokerages, insurers and their clients, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada and the United Kingdom. By automating the insurance lifecycle, Applied enables millions of people around the world to safeguard and protect what matters most.

SOURCE: ClearPay