UNIVERSITY PARK, Ill., April 28, 2022 (GLOBE NEWSWIRE) — Applied Systems today announced Applied Pay, the only natively integrated digital payments solution built specifically for insurance and directly integrated into agency technologies and daily workflows. Coming in Summer 2022, Applied Pay will seamlessly integrate with Applied’s suite of agency management systems and self-service portals to automate payment collection, processing, and reconciliation. By automating workflows across systems for ultimate accounts receivable reconciliation, agents can eliminate the cost and risk of managing paper checks and more quickly collect commission, while providing a simple, secure and modern insured checkout experience.
Applied Pay is a cloud-based electronic payments hub that enables agents and brokers to provide their clients a secure, online way to pay for new and recurring premiums. Directly integrated into Applied Epic, Applied CSR24 and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can go to pay for premiums via text link, credit card, ACH, digital wallet, or other payment methods. It automatically handles payment authorization and tokenizes sensitive information to increase security and ensure compliance. The solution also integrates into the general ledger to reconcile accounts receivable, reducing manual effort and improving accuracy and timeliness to reconcile payments.
“Agents’ typical accounts receivable process is extremely labor intensive, requiring extra time and manual administrative tasks that create arduous overhead while exposing the business to potential errors and liability,” said Allan Lacoste, chief payments officer, Applied Systems. “In our commitment to solving our customers’ pain points and extending the innovative value of agencies’ core technologies, we are excited to launch Applied Pay to provide an integrated, simple digital payments experience for the industry. As a fully automated workflow that delivers a simpler payments process for both agents and insureds, Applied Pay provides agents with the opportunity to differentiate their business and increase profits more quickly and securely.”
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About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.