Stripe
All-in-one no-code platform for payments and financial management
What is Stripe?
Try StripeStripe provides modern money management for insurance providers, helping you collect premiums, manage multiparty payments, and pay out claims with faster, more reliable workflows. It’s designed to improve customer payment experiences and streamline operational and compliance challenges without forcing a full replatform. With modular infrastructure and developer-friendly APIs, you can integrate quickly and scale across the insurance lifecycle.
What does Stripe do for insurance providers?
Stripe helps insurance teams modernize premium collection, multiparty payment flows, invoicing and renewals, and claims disbursements. It’s built to deliver the fast, convenient experiences customers expect across the insurance lifecycle while improving profitability and operational efficiency.
Can I modernize premium collection and claims payouts without replatforming?
Yes. Stripe is described as modular infrastructure that supports insurance’s complex needs “without replatforming or disrupting existing operations,” and it integrates with leading policy administration systems to reduce implementation time and costs.
How does Stripe help improve payment success and customer conversion?
Stripe supports optimized premium collection with frictionless checkout and authorization optimization, including AI-powered optimizations and Instant Bank Payments. It also offers access to 125+ payment methods, which can help increase authorization rates and improve conversion.
How does Stripe handle multiparty payments and embedded payment experiences?
Stripe streamlines multiparty payments by programmatically splitting payments across multiple parties and embedding insurance payments into third-party ecosystems. It also supports compliant fund flows so you can modernize how customers pay while coordinating payouts across partners.
What does Stripe offer for invoicing and keeping policies from lapsing?
Stripe supports automated renewals and invoicing to help prevent lapsed policies, and it includes AI-powered retry logic trained on millions of daily recurring transactions to improve payment performance over time.
How does Stripe support secure, fast claims payouts?
Stripe is built to help reduce the costs and fraud risks associated with paper checks by enabling instant and one-time password verification for extra security. It also emphasizes fast, flexible payout capabilities within policy administration workflows for quicker reimbursements.