Snapsheet, a virtual claims insurtech provider, is partnering with KeyBank for the launch of Snapsheet Transactions, a payment solution for insurance claims.
Instead of insurance carriers sending claimants a cheque in the mail once a claim is settled, Snapsheet Transactions provides carriers a hub for issuing claims and expense payments.
CJ Przybyl, president of Snapsheet, says: “Cheque production is a meaningful cost burden to insurance carriers, not to mention customer service costs associated with claims payments, such as interactions around cheque status. Funds should be available to customers easily, no matter where they are; it’s not always possible for customers to receive cheques at home.”
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