Applied Systems updates payments hub

Enhancements announced for cloud-based payments solution

Applied Systems updates payments hub


By Ryan Smith

Applied Systems has announced the latest update to Applied Pay. The new release will simplify the accounting and bill collection process and add verification and transaction limit enhancements, Applied said.

Applied Systems touts Applied Pay, launched in 2022, as the insurance industry’s only natively integrated payments solution. A cloud-based payments hub, Applied Pay allows agents and brokers to provide their clients with a secure, online method to pay premiums.

Applied Pay is directly integrated into Applied Epic, Applied CSR24 and EZLynx Client Center, and provides branded checkout pages where policyholders can pay premiums through text link, credit/debit card or ACH, Applied said in a news release. Applied Pay also reconciles receivables at the account level, which can reduce manual workflow and improve accuracy and reduce the time needed to reconcile payments.

Applied Pay features launched in 2023 include:

  • Accounts receivable reconciliation: Automates the application of credits to debits on a clients account once a payment has been made. Available on Applied Epic, Applied CSR24, Pay Portal Hosted Payment Page, and EZLynk workflows
  • Three complimentary Applied Epic workflows: Unique workflows that complement different business models
    • Agent-led workflow: Allows payments to be managed from inside a client’s account in Applied Epic through the Payment from Client screen
    • Insured-led workflow: Allows clients to log in and make a payment from within the Applied CSR24 Client Center
    • Independent workflow: Unique hosted payment page link can be sent to anyone, anywhere to collect a payment
  • Hosted payment page “pay now” link: Allows insureds to pay single or multiple invoices that are open in Applied Epic, or request an exact amount for items such as third-party fees Payments can be automatically applied to a client’s account, or an activity and/or transaction can be returned for accounting purposes
  • Enhanced notifications: Notifications will provide more clarity with refined audience, content and delivery of email and batch notifications, allowing staff to make better decisions with accurate information
  • Insured personal portal: Allows insureds to manage their payment profile, store preferred payment methods and view their payment history
  • Compliance and risk monitoring: Security and tokenization of sensitive data reduces liability for agents and handles PCI compliance
  • ACH verification: Verifies a customer’s bank account and routing details in real time
  • Company-branded URL: Choose the name associated with the company’s “pay now” payment link
  • Allows large single transaction limits: Allows the processing of extra-large premiums, enabling larger clients to make payments without using other banking services

Read next: How can AI be safely integrated into an insurance workplace?

“We developed Applied Pay with the goal of putting agents in the driver’s seat of the payment journey while providing a modern checkout experience that their internet-savvy clients have come to expect,” said Chase Petrey, president of Applied Pay. “The latest Applied Pay innovations offer more payment choices when collecting and applying premiums, creating a secure, frictionless and speedy process for both agents and insureds.”

Applied Systems was recognized as one of Insurance Business America’s 5-Star Technology Providers in 2022.

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