Toronto, ON (June 2, 2017) – FIRST Insurance Funding of Canada (FIRST Canada), the leader in payment solutions, has been selected by ClearPay as an exclusive partner for brokers to streamline payments.
“FIRST Canada is part of the largest premium finance company in North America, so it made sense they were our first choice partner to maximize our brokers benefits,” said John Knotek, CEO of ClearPay.
Through this strategic partnership, brokers are able to remit funds with remittance data for easier payment and reconciliation. This eliminates the issues of lost or stolen cheques, cheque fraud and the expense of mailing cheques. Brokers will be able to securely send funds and statements online and on time.
“We are known for our innovative payment solutions, so partnering with ClearPay was an ideal opportunity,” said Stuart Bruce, CEO of FIRST Canada. “Now, our broker partners can also take advantage of ClearPay’s benefits.”
Whether it’s down payments, returned/missed payments or NSF replacements, brokers can securely provide these payments to FIRST Canada along with the remittance data. No technical work is required on behalf of the brokerage. Those not already using ClearPay and wishing to take advantage of this secure and efficient process simply need to contact ClearPay to get started.
About FIRST Insurance Funding of Canada
FIRST Insurance Funding of Canada (FIRST Canada) provides the Canadian Insurance Market with comprehensive payment solutions. Brokers, MGAs, and carriers can partner with FIRST Canada and expand their offering to provide more value, choice, and convenience for all their clients. The combined strength of FIRST Canada’s dedicated team, evolved offering, and innovative platform positions its partners to meet the demanding future of the Canadian Insurance landscape armed with market-leading solutions for success. FIRST Canada is part of Wintrust (Nasdaq: WTFC), a financial services company with more than $25 billion in assets as of year-end 2016, and is part of one of the largest premium finance companies in North America. For more about the company, visit firstinsurancefunding.ca.
ClearPay makes it easy for insurance brokerages to pay carriers and send critical remittance data. For carriers, ClearPay transforms incoming payments to electronic and standardize the settlement data received. For more information, please visit www.clearpaycanada.com.