ClearPay electronic brokerage platform now fully implemented by Wawanesa
Toronto, ON (May 6, 2020) – ClearPay is pleased to announce that the Wawanesa Mutual Insurance Company, Canada’s largest Property and Casualty Mutual insurer (Wawanesa), has fully adopted the ClearPay brokerage payment and reporting platform. This platform enables the independent brokerage community to eliminate the need for paper cheques and manual reporting to be sent to Wawanesa.
“This is extremely welcome news to our existing customer base as well as the hundreds more Wawanesa brokerages that can benefit through payable automation,” said John Knotek, Chief Executive Officer of ClearPay. “Especially in today’s environment, the seamless and rapid transition to electronic payments is critical and in as little as fifteen minutes ClearPay can have a brokerage sending payments and necessary reporting to Wawanesa electronically.”
ClearPay is the leader in automating payment settlements and reconciliation for the insurance industry and has grown rapidly in last few years. ClearPay enables brokerages to easily eliminate cheques and adopt electronic payments and automate repetitive tasks in the payable process. With ClearPay, brokerages can create payments either directly in their broker management system or in a ClearPay portal and approvals can be done on any internet connected device. This saves brokerages from attending their office specifically to handle or sign cheques and conduct manual reporting.
“During this unprecedented time, we are working closely with our broker partners to make sure our customers can get the same great service they did prior to the pandemic,” said Graham Haigh, VP Broker Distribution for Wawanesa. “One important way we can do that, while also doing our part to keep people and communities safe, is to provide brokers and customers with more digital options. For us, ClearPay means less paper and faster service for both agency bill and time sensitive customer direct bill advances.”
“We are pleased to reach this next level integration with ClearPay and our team has expedited this integration to help brokers,” says Tracy Riley, Vice President Business Transformation for Wawanesa. “This helps brokers immediately with the transition from cheques and assists us with the efficient handling of electronic payments and data.”
Wawanesa successfully adopted the ClearPay system in 2019 and is now able to accept all types of payments that are sent on a brokerage cheque, with incoming payments and reporting posted directly in Guidewire Billing Centre without manual handling. With the direct from broker management system integration, brokerages are able to reduce the time it takes to send agency bill or direct bill advances and reporting. Both carriers and brokerages enjoy equal access to the ClearPay site that maintains a payment history and future dated payments.
About ClearPay
ClearPay is an independent Canadian company created by professionals with years of experience in the insurance and banking industries to automate payments and account reconciliation for the insurance industry. For more information, visit clearpaycanada.com.
About Wawanesa
The Wawanesa Mutual Insurance Company, founded in 1896, is the largest Canadian Property and Casualty Mutual insurer with $3 billion in annual revenue and assets of more than $9 billion. Wawanesa Mutual, with executive offices in Winnipeg, is the parent company of Wawanesa General, which offers property and casualty insurance in California and Oregon; Wawanesa Life, which provides life insurance products and services throughout Canada; and Western Financial Group, which distributes personal and business insurance across Western Canada. With over 5,000 employees, Wawanesa proudly serves over two million policyholders in Canada and the United States. Wawanesa actively gives back to organizations that strengthen communities where it operates, donating well above internationally recognized benchmarks for excellence in corporate philanthropy. Learn more at www.wawanesa.com/canada.
Source: ClearPay
Tags: ClearPay, platform, Wawanesa
Read the original article at Insurance-Canada.ca