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The top 5 reasons Insurance Carriers are slow to implementing new payment methods

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Single Use Accounts--Preventing Check Fraud While Streamlining Payment Processes

According to findings published in the 2015 AFP Payments Fraud and Control Survey, 62 percent of companies were targets of payments fraud in 2014. The most targeted methods of payments were checks (77 percent), credit/debit cards (34 percent), and wire transactions (27 percent). Incidentally, checks were also the payment method most likely to result in financial loss, with 45 percent of the companies that experienced a loss due to fraud reporting that checks were involved. Despite the prevalence of check fraud, the survey also revealed that fully 70 percent of B2B payments are still made via check.

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Tags: issue payments electronically, disbursement workflow, disbursement hub, disbursements, security, flexibility, improve process, single payment, reduce risk, Single Use Accounts, SUA, card payments, control, reduce the costs of issuing payments, disbursement processes, claim payments, checks, claim settlements, insurance claims processing, reduce cost of processing claims, PayPilot, electronic payment, Trends and Observations, safety, fraud protection, fraud prevention, check fraud protection, check fraud, fraud, check fraud prevention

Funny Insurance Ad

Funny Insurance Ad



 

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Tags: Funny Insurance Ad, Prelude's Payment Tips, Trends and Observations

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