Aite Matrix: P&C Nonbank Disbursements Platforms

Carriers look to inject a digital dynamic into the insurance claims disbursements process.

Boston, September 28, 2021 Property and casualty insurers’ focus on creating best-in-class digital customer experiences has made its way down the value chain to the point of disbursing a claim. Insurers are realizing vendors are bringing functionality that extends beyond solely moving payments, and that functionality aligns with broader digital goals. Vendors are enabling carriers to reimagine the disbursement process, differentiate themselves on the disbursement process, and deliver greater transparency to customers, adjusters, agents, and vendors. The days of sending a check to the consumer at the end of the claims process can fade into the rearview mirror for insurers ready to embrace a digital transformation in their disbursements process.

Leveraging the Aite Matrix, a proprietary Aite-Novarica Group vendor assessment framework, this Impact Report evaluates the overall competitive position of nine vendors, focusing on vendor stability, client strength, product features, and client services. This report profiles ACI Worldwide, Dwolla, Exactuals, Fiserv, One Inc., PayNearMe, Snapsheet, Transcard, and VPay.

This 94-page Impact Report contains 15 figures and 18 tables. Clients of Aite-Novarica Group’s Property & Casualty service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions 7-Eleven, Alacriti, Apple, Bank of America, Bank of Ireland, BB&T, Braintree, Capital One, CCC Intelligent Solutions, City National Bank, Commerce Bank, Discover Financial Services, Duck Creek, DXC Techology, Early Warning Systems, Enservio, FedNow, Fifth Third Bank, First Data Corporation, FIS, Google, Guidewire, Idology, Ingo Money, InsurCard, Insuresoft, KeyBank, Majesco, Mastercard, Medicare, NACHA, Optum Financial Services, Oracle, PayPal, Plaid, PNC Bank, Prelude Software, PriceWaterhouseCoopers (PwC), Royal Bank of Canada (RBC), Sapiens, Silicon Valley Bank, State Farm, Stripe, The Clearing House Payments Company, U.S. Bank, U.S. Xpress, Verisk, Visa, Wells Fargo, Western Union, and Zelle.

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