Insurance software provider Sapiens International Corporation has announced a partnership with ECHO Health, which provides digital payment processing for healthcare, workers’ compensation, property and casualty, and other specialty insurers. The partnership will provide carriers with a comprehensive digital payment capability though a single secure portal.
Founded in 1997, ECHO now processes more than $1 billion in payments every week. It connects clients to a network of more than one million electronic-ready insurance vendors and providers – the nation’s largest such network.
In tandem with Sapiens’ CoreSuite for Property & Casualty and CoreSuite for Workers’ Compensation, ECHO’s payment-processing product will enable carriers to eliminate manual payment processes, which are cited by 54% of large businesses and 65% of small businesses as among their leading B2B payment challenges.
“Sapiens shares our commitment to leading the industry with diverse digital solutions and dependable customer service,” said Tom Dean, president of ECHO. “Together, working as one team, we will unlock the full potential of integrated payment processing for our clients on the best path for success in the new digital business landscape.”
The joint offering will allow clients to reconcile payments across multiple modalities with minimal IT requirements. All client financial data will be streamlined into a single access point.
“Sapiens and ECHO are partnering to address the many payment challenges clients experience today,” said Roni Al-Dor, president and CEO of Sapiens. “By integrating the ECHO solution within Sapiens’ workers’ compensation and P&C solutions, clients can easily implement digital payment processes, saving money and resource time, and gaining greater insight on payments.”