Canadian Underwriter

Northbridge to digitize claims payments

September 12, 2018   by Jackie Rosen, Associate Editor

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Copyright: / everythingpossibleNorthbridge has announced it’s moving to digital claims payments, using the Mastercard Send program through the Dream Payments Hub.

“We know that waiting for and depositing checks are key pain points and we’re excited to be able to deliver a better, faster claims experience that helps make things right for our customers as quickly as possible,” George Halkiotis, Northbridge Financial’s executive vice-president of claims, said in a news release.

Related: Evolving consumer expectations driving digital transformation among insurers: study

With the adoption of the program, the insurer’s customers will be able to receive funds directly, initially into their debit card account of choice.

“We will be rolling out the ability to receive electronic payments in phases over the next several months,” Ilda Dinis—Northbridge’s senior vice-president of customer experience and innovation—told Canadian Insurance Top Broker via email.

Northbridge becomes the first insurance provider in Canada to use Mastercard’s program, following the announcement of the global partnership between Mastercard and Dream Payments on Tuesday.

After its Canadian debut, the credit card company and Dream Payments intend to expand the platform throughout the international insurance market, as well as into other workflows such as premium payments.

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This story was originally published by Canadian Insurance Top Broker.