Insurance

Velocity for Insurance enables insurance companies to improve customer services and streamline operations, while reducing transaction costs. Velocity offers multiple payment options across different payment channels, giving customers making premium payments unrivaled flexibility.

  • Point of Service Payments
  • Over-the-Phone Payments
  • Web Payments
  • IVR Payments
  • Electronic Bill Presentment and Payment With Paper Bill Opt Out
  • Remote Deposit Capture/Check Conversion

STREAMLINED OPERATIONS AND REDUCED BILLING COSTS

Velocity enables insurance companies to improve customer service and streamline operations while reducing transaction costs. Velocity provides customers 24-hour self-service for payments and account management. Customers can review payment history, obtain payment receipts and establish automatic recurring payment plans. Insurance companies can also substantially reduce billing and mailing costs by using Velocity’s electronic bill presentment and paper bill opt-out .

MULTIPLE PAYMENT OPTIONS

Velocity for Insurance can be expanded to include check, credit card, debit card, and ACH payment processing using a single integrated system. By allowing premium payment collections through multiple means such as web, phone, over-the-counter and back office transactions, Velocity provides an all-in-one solution to streamline your revenue cycle.

INTEGRATES WITH EXISTING SYSTEMS AND SUPPORTS CALL CENTER OPERATIONS

With real time, online reporting, Velocity for Insurance easily transmits collections data to back office systems. The fully-hosted phone payments solution allows existing call center operations to remain PCI compliant, while providing expanded payment options to customers. Whether you’re looking to reduce payment and billing costs, improve customer service or expand payment options, Velocity provides a flexible, easy to deploy solution.

Files to Download: 
Velocity for Insurance.pdf

ABOUT GOVOLUTION

Velocity is an electronic payment system and service provided by Govolution, LLC, a  wholly-owned subsidiary of First American Payment Systems. Velocity has been honed to meet the strict technical, financial and security standards of the U.S. Federal Government. Starting with payment processing, its modules enable a full spectrum of business activities including back-end reporting, data management and administrative tools that integrate with legacy accounting, cash management and CRM systems.