The Hanover Insurance Group has chosen payment solutions provider Deluxe eChecks solutions for property and casualty payment disbursement.
Deluxe is a provider of technology-enabled solutions to enterprises, small businesses and financial institutions, while The Hanover is a property and casualty insurance operation based in the US.
The latest deal will allow the insurer to simultaneous provide digital payments delivery and related information through a single platform.
Leveraging Deluxe eChecks, Hanover will now be able to deliver claims settlement and reimbursement checks very quickly.
The eChecks will enable claimants to receive an email with a secure link to access, download and print the eChecks and related claim information. Furthermore, they can deposit printed eChecks at their financial institutions, similar to paper checks.
Deluxe believes that the digital delivery of an eCheck now offers faster payment to a claimant while reducing disbursement costs to The Hanover.
The Hanover claims strategy vice president Stephanie Behnke said: “Today’s claimants expect new digital payment options in the way they receive funds. Deluxe eChecks helps us simplify the claims payment process by creating a true ‘digital experience’ for our claimants, reducing the claims time cycle and improving customer satisfaction.”
Deluxe stated that its eChecks solutions has been integrated into Hanover’s existing comprehensive payment processing platform, which is PayPilot Disbursement Hub from Prelude Software.
Deluxe Small Business Services senior vice president Malcolm McRoberts said: “What is key to this partnership is that The Hanover’s claimants won’t have to learn a new payment system or enroll in new software.
“We are delivering instantly what the claimant already knows well – the check. Only it is delivered through Deluxe eChecks and once it is printed, the claimant deposits it and they are done.”
Earlier this year, The Hanover Insurance Group has signed an agreement with the RSA Group to join its Global Network as a US strategic network partner.
The partnership is said to expand The Hanover’s international specialty capabilities made available via its agent partners for domestic businesses with overseas risks.