Insurance Remittance Processing

Nobody else puts all this in one package. 

WAUSAU dominates the receivables processing market, with over 48% of the market processing receivables on our industry-leading remittance application. We're recognized as an insurance market leader for document handling, making our insurance offering one of the most comprehensive solutions available for the insurance industry. More than 25 insurance companies, processing over $90 billion in annual premiums billed, trust WAUSAU Financial Systems as their receivables provider of choice. We hold the #1 market share position in retail and wholesale remittance processing solutions, and process more than $1 trillion in transactions each year. Our leadership position enables us to invest constantly in new technology — so we've demonstrated a long and successful commitment to providing the most effective solutions in the insurance receivables market.

YOUR CHALLENGES, YOUR OPPORTUNITIES

Proliferating payment channels, dependence on old systems and bumpy coordination among offices and departments add up to high costs and slow posting.

• Overwhelmed infrastructure. With 70% of systems legacy, the industry is confronted with spiraling maintenance and vendor costs.
• Inefficiency and poor coordination. Multiple policy-admin systems and correspondence — along with payment through multiple channels in multiple forms and disputes and cancellations — keep driving costs up.
• Weak customer interaction. Today's customers expect quick, fluid responses to any and all issues. Disputes need fast, satisfactory resolution.
• Soft market. With 23% of insurance companies cutting staff, lowering costs by electronic automation is becoming a necessity, not a luxury. 

OUR BENEFITS

Consolidation of insurance receivables on a single infrastructure gives control and lowers costs at every point of stress.

• Accept all payment types and channels. Handle checks, cards, and everything in between, with every payment flowing smoothly into single hub.
• Improve collections. Seamless, fast electronic billing, collecting and processing improves customer service, saves 50-90% over paper bills, reduces late payments and settles bad debts.
• Coordinate workflow. Meet the challenges of managing field agents and central offices: single, integrated dashboard for image capture; image-based correspondence; instant exception notification; integrated analytics.
• Delight customers. Enabling payments at any location and in any form — and retrieving records instantly — gives customers confidence and pleasure in every transaction.
• Reduce costs. Our solution can help reduce FTEs by 10%. Reduce clearing costs by 50%. Reduce exception handling by 33%. All flexibly, easily and quickly.