According to ACI Worldwide, P&C insurers can quickly integrate Speedpay, its US bill pay business, with the full Guidewire InsuranceSuite platform
ACI Worldwide and Guidewire Software claim to have improved premium payment and claims disbursement experience for property and casualty (P&C) insurers by completing the former’s Ready for Guidewire validated accelerators for the latter’s BillingCenter and ClaimCenter solutions.
According to ACI Worldwide, property and casualty insurers can quickly integrate Speedpay, its US bill pay business, with the full Guidewire InsuranceSuite platform which includes PolicyCenter, ClaimCenter, and BillingCenter.
The integration is said to give policyholders easier methods to pay their bills and receive payments.
ACI Worldwide is said to be among the first Guidewire payment affiliates to cater to the complete policyholder journey, starting from the initial policy binder deposit, to monthly premium bill payments, through to disbursements of claims.
The ACI Speedpay Guidewire accelerators for PolicyCenter and the new BillingCenter accelerator are said to help P&C insurers to accept commonly used payment methods such as credit cards, debit cards, and ACH securely for one-time or recurring payments.
The ClaimCenter accelerator is said to enable insurers in disbursing claim payments in real time to recipients through ACH and Push-to-Debit transactions.
Guidewire Software global solution alliances vice president Becky Mattick said: “We’re pleased to see the completion of ACI’s Ready for Guidewire BillingCenter and ClaimCenter accelerators as insurers can now integrate ACI Speedpay with InsuranceSuite.
“ACI Speedpay provides policyholders with many ways to pay insurers, whether through an agent or via mobile, web or mail. The completion of the ClaimCenter and BillingCenter accelerators facilitates insurers’ ability to provide the claims disbursements and payments flexibility that policyholders need.”
ACI Worldwide acquired Speedpay for $750m
Speedpay was acquired by ACI Worldwide in 2019 from Western Union for $750m. Its solutions offer modern billing and disbursement options to insurers all in a single, integrated payments hub.
ACI Worldwide executive vice president Sanjay Gupta said: “P&C insurers need to optimize their most frequent customer touchpoints, including billing, payments and claims in order to win customers and gain loyalty.
“With the completion of ACI’s Ready for Guidewire validated accelerators, insurers can drive consumer loyalty though improved satisfaction with the billing and payments process, increased savings and enhanced security.”