This blog looks at the benefits of having check print software for an insurance company.
Even in this era of technological advancement, an industry that still operates in a paper-intensive environment is insurance. Many beneficiaries still receive payment by check. However, an insurance company may have to face a number of challenges while issuing checks via traditional methods. Here are the most common:
- With so many payments to policyholders, partners, and more, insurers find it difficult to process a high volume of checks.
- Manual methods of check processing can lead to significant delays, affecting cash flow and financial management.
- The handling and processing of checks via traditional methods is labor intensive. A separate employee must be kept to open mail, endorse checks, enter data, and resolve discrepancies.
- Manual processes always come with the possibility of human errors like incorrect entries and misallocations.
An insurance company can find solutions to all these problems from OnlineCheckWriter.com – Powered by Zil Money. Let’s see in what ways the cloud-based platform can help an insurance company.
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On-Demand Printing Facility
With OnlineCheckWriter.com – Powered by Zil Money, users can have their checks the moment they need them. The platform allows businesses to print checks on demand on blank stock papers. Businesses can save 80% of their check printing costs while printing checks on blank stock papers instead of ordering them from third parties. Moreover, businesses can get blank stock papers from any nearby office supply store.
For an insurance company that requires multiple checks at a time, the cloud-based platform offers a practical solution. The platform allows the company to print any number of checks without any restriction. Also, on-demand check printing helps insurers to settle claims faster, which is crucial for maintaining customer satisfaction. It enables the company to issue checks on short notice without depending on external vendors.
Customization facility
Businesses can customize their checks the way they like using OnlineCheckWriter.com – Powered by Zil Money. The platform allows businesses to add company logos, special fonts, colors, and more that can bring attention to their brand. Moreover, businesses can add watermarks on their checks, which can strengthen security.
The customization feature on the cloud-based platform helps insurance companies enhance their professional image and build trust with clients. An insurance company may have to issue checks for different purposes, such as claim payouts, refunds, or premium returns. The customization feature allows insurers to have different checks for each category. This can help them simplify the reconciliation process.
Multiple Check Delivery Methods
Using OnlineCheckWriter.com – Powered by Zil Money, businesses can send checks in two ways. One is physically via mail, and the other one is via digital method. The cloud-based platform allows businesses to send physical checks via USPS/FedEx and eChecks via email or SMS.
An insurance company may have a busy schedule. So, in some situations, they might not get time to print and send checks on their own. On these occasions, the cloud-based platform is the perfect solution. The platform prints, labels, envelopes, and sends checks on behalf of the company.
The company can even decide the delivery time of their checks with the platform. The overnight check mailing feature ensures the delivery of checks within the next business day. Express mailing would take 2 business days, priority mail would take 1 -3 business days, and first-class mailing would take 1-5 business days.
Document Support
Individuals and businesses that need to send documents along with their checks can rely on OnlineCheckWriter.com – Powered by Zil Money. The platform allows you to attach PDF files with any number of pages along with your checks.
An insurance company might have to include documents like claim explanations, settlement breakdowns, or policyholder notices alongside checks. This is to make sure that the recipient has all the necessary information regarding the payment. The cloud-based platform helps insurers cut down on administrative costs by consolidating the process of sending both payments and associated documents.
Now, let’s see what are the other payment options offered by the cloud-based platform in addition to checks.
- ACH Transfers: OnlineCheckWriter.com – Powered by Zil Money, an official member of NACHA, lets you make ACH payments easily. NACHA is the regulating body that controls and monitors the ACH network through which ACH transfers are processed. Typically, an ACH transfer would take 1-3 business days. The cloud-based platform offers same-day ACH that ensures the delivery of your checks within the next business day.
- Wire Transfers: With OnlineCheckWriter.com – Powered by Zil Money, you can send both domestic and international wire transfers. This payment method is the most perfect for moving large sums of money. It offers a fast and reliable way to make payments to recipients all around the world. Moreover, with the cloud-based platform, you can make wire transfers at a reasonable cost.
- Credit Cards: Using OnlineCheckWriter.com – Powered by Zil Money, users can easily make credit card payments. One specialty of the platform is that it allows the payee to accept credit cards without paying transaction fees. This way, the payer can enjoy credit card rewards without having to worry about the transaction fees that the payee has to pay.
OnlineCheckWriter.com – Powered by Zil Money, offers multiple other payment options as well, such as payment links, virtual cards, etc.
Conclusion
OnlineCheckWriter.com – Powered by Zil Money is an all-in-one platform that offers solutions to almost all financial concerns of businesses. An insurance company can completely trust the check print software for making all their check payments. The platform’s on-demand printing facility, customization feature, and more help these companies in a great way.
