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Direct Debits
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Insurance
Insurance premiums and payouts handled
Nuapay specialises in smooth collections and payouts to provide an end-to-end payment package built for the Insurance industry.
Insurance premiums and payouts handled
Nuapay specialises in smooth collections and payouts to provide an end-to-end payment package built for the Insurance industry.
Nuapay’s Direct Debit sign-ups through Open Banking stand out as a unique feature in the market.
Rather than traditional methods, where customers manually enter their bank account details, with Open Banking e-mandates, payers can sign up seamlessly using only the biometrics on their phone, and without entering any bank account details manually.
This significantly reduces the risk to Insurers—the first payment is received in real-time via bank transfer, reducing risk of fraud and chargebacks, while subsequent payments are less likely to fail as our solution ensures a payer’s details are correct and they’ve provided evidence they own the account.
It is the seamless and secure way to collect Direct Debits.
81%
of financial executives say digital insurance embedded in websites and apps is becoming a must-have, rather than a nice-to-have.
Explore our products suited to the Insurance industry
Pay In or Pay Out
Collect payments – one-off or recurring
Nuapay offers Insurers the capability to collect payments with Open Banking or Direct Debits.
Paying by Open Banking is the new way to pay, which lets customers pay seamlessly via a bank transfer. Payers authenticate the payments on their mobile, and funds are sent directly to the Insurer. It is the fast, secure and easy way for customers to pay, and perfect for one-off payments.
Paying by Direct Debit is the most efficient way for customers to pay regular bills. As the most advanced Direct Debit environment available, Nuapay substantially improves efficiency, reduces failed collections by over 40%, and lowers administration and associated costs.
Instant payouts for your customers insurance claims
Nuapay offers insurers a fast and easy pay-out solution, which enables you to efficiently send pay-outs to a customer’s bank account in seconds. For customers that are making a claim and in need of cash to manage an unfortunate event, this gives you the opportunity to delight them.
To reduce the risk to you, funds can be disbursed straight back to the customer’s original payment account, ensuring that the payments are sent securely, and reducing the risks to you from fraud and other risky claims.
Easy integration
Nuapay integrates easily across all areas of your business, offering huge improvements in efficiency and usability. For ultimate performance, Nuapay uses tailor made APIs that put payments and banking at the heart of your business.
Not fully ready for APIs? Then contact Nuapay to find out our file-based integration options and how we have supported businesses of any size, particularly businesses with large payment volumes.
Lead your insurance business in a changing world!
Partner with Nuapay. Customers are increasingly taking advantage of emerging technologies, opting to use real time Account-2-Account payments that are particularly suited to pay-as-you-go billing. For Nuapay users, these are faster, cheaper and more secure than any other payment method. Meaning you’ll never miss out on the benefits.
Learn how partnering with Nuapay will improve your customer journey
Used by forward-thinking businesses who trust us
Lead your insurance business in a changing world! Partner with Nuapay.
Customers are increasingly taking advantage of emerging technologies, opting to use real time Account-to-Account payments that are particularly suited to pay-as-you-go billing. For Nuapay users, these are faster, cheaper and more secure than any other payment method. Meaning you’ll never miss out on the benefits.