Sure & Checkout.com Improving Payments for Digital Insurance
Payment processing plays a key role in enhancing efficiency, user experience and cost effectiveness.
Many insurtechs integrate payment solutions directly into their apps and websites to allows customers access to pay premiums or receive payouts without leaving the platform to create a seamless experience.
As payment technology advances, insurtech firms are increasingly offering digital wallets, cryptocurrency options and Buy Now, Pay Later (BNPL) for certain policies, giving customers flexibility.
One company improving payments for digital insurance is Sure as part of its partnership with Checkout.com.
Improving the digital experience
In partnership with Checkout.com, Sure is improving the digital experience for consumers accessing insurance products by boosting payment performance.
With this partnership, Sure will transform its digital payments strategy and support its Fortune 500 partners to grow in a digital economy.
“Great partnerships are born through collaboration, and our work with Sure proves that. By taking a customer-first approach to payments, working directly with their team from a challenge all the way through to a solution, we’ve been able to drive greater performance and deliver impactful results,” adds Jim.
Insurtech is an incredibly exciting space with Sure leading the charge. By combining our advanced payment solutions with their innovative platform tailored to insurance providers we have been able to significantly improve Sure’s payment acceptance rates, streamline operations, and unlock new revenue opportunities for the business
Being a rapidly growing insurtech business, Sure partners with brands and carriers to cut the cost and complexity of launching digital insurance programs.
Sure’s mission is to transform the way insurance is purchased and managed digitally, strengthening the bond between disruptive providers and savvy consumers.
As such Sure’s partnership with Checkout.com will allow Sure to accept payments from credit and debit cards, as well as manage recurring monthly payments both directly and those managed on behalf of its customers.
Connecting two side of the market
Sure’s infrastructure provides the backend network connecting two sides of the market – carriers and brands – to enable digital insurance experiences across the websites, mobile interfaces, point-of-sale and more.
Producing quotes for complex products – including auto andhome insurance to facilitate premium payments, Sure’s partnership with Checkout.com has already seen an acceptance rate increase across regions.
As part of the partnership, Sure has adopted Checkout.com’s Real Time Account Updater and its Fraud Detection Pro solution.
”When Sure faced a challenge with scaling massive payment volumes, Checkout.com's support team quickly stepped in. Their fast response and expertise proved valuable,” says Yarden Sachs, Chief Technology Officer at Sure.
“By implementing Checkout.com's solutions like - Real-Time Account Updater (RTAU) we not only solved the problem but improved our performance. Our card acceptance rates surpassed previous levels.
“Checkout.com went beyond solving our immediate issue. They shared tips for future optimisation, demonstrating their commitment to our long-term success.”
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