Allianz Worldwide Partners UK has selected Optal to help optimize payments to its network of suppliers.
The overriding goal of the partnership is to improve claims efficiency, reduce administrative overheads, lower costs and enhance the experience for customers of Allianz Worldwide Partners assistance solutions, which the company sells both directly to consumers and on behalf of some of the UK’s leading consumer brands.
Like many customer centric companies, Allianz Worldwide Partners UK makes payments to numerous suppliers at home and abroad every day, in order to assist its customers who have often experienced a stressful event, such as a vehicle breakdown, emergency medical assistance abroad, or faulty heating.
However, most legacy payment systems like cheques and bank transfers are costly, inefficient, time-consuming, and insecure. Manual payments and reconciliation processes can be error prone, with international transactions adding to the cost and complexity.
Allianz Worldwide Partners UK Operations Director Rob Lunt said: “These challenges can be distressing for end-customers and frustrating for claims suppliers.
“With Optal, we are using a new approach to overcome inefficiencies and streamline our claims payments.”
Reconciliation is automatic and immediate — reducing overheads and eliminating manual errors — and payments can be highly personalised with various parameters to increase security and improve auditability.
Optal general manager Andy Downes said: “We’re delighted to announce Allianz Worldwide Partners UK as our latest contract win, supporting them to cut costs and complexities by optimising claims payments with Optal.
“We understand the challenges facing businesses today, and are working hard to overturn the long-held belief that B2B claims payments are just another cost to operations. We’ve shown that by taking a new approach, organisations can reduce administrative overheads, lower costs and make payments work for them.”