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LEADING PAYMENTS MIDDLEWARE LAUNCHES NEW FEATURE AIMED AT IMPROVING CUSTOMER EXPERIENCE
Imburse launch new Pay-By-Link feature for insurance and banking sector to improve customer expereince
UNITED KINGDOM: Payment middleware Imburse has, today, announced the launch of Pay-by-Link, a new feature that will improve customer payment experience. Pay-by-link will make customer payments quicker and will not involve major financial investment or resources on the part of insurers. Imburse is a payments middleware that provides connectivity to the entire payments ecosystem for large enterprises. Headquartered in Zurich with offices in London and Lisbon, Imburse is a software as a service company that helps large enterprises and insurers future-proof IT systems in order to meet and exceed customer preferences anywhere in the world.
A Pay-by-Link is a method that enables customers to pay for their purchases via a link online. In an era when payments and checkout processes are complex and modernising complicated, Imburse understands how advantageous a Pay-by-Link feature is for both customers and enterprises. By using Pay-by-Link, insurers will have to do very little to change their payment infrastructure and will save investment in resources and operations. Additionally, the Pay-by-Link feature will also ensure the improvement of cash flow, as it makes it easier and faster to collect payments. The feature will be customisable and available in English, German, French, Portuguese and Spanish.
Financial transactions are a core component of operational day-to-day work for insurers. However, insurers often struggle to engage with the end customer and offer them a fast and seamless payment experience. This is the problem that the new Imburse Pay-by-Link feature solves. According to research from Barilliance, more than a quarter of customers (28 percent) abandoned their carts because the checkout process was too long or complicated. Additional research from The State of Connected Customer report, found that 84 percent of customers said that the experience a company provides is as important as its products or services. Despite this, there is still a divide between customer expectations and what businesses are actually delivering. Imburse is hopeful that its new feature will help to improve the customer experience of insurance users.
Commenting on the launch of the Pay-by-Link feature, CEO and Co-founder, Oliver Werneyer, said:
“The launch of the Pay-by-Link feature comes at a time in which insurance and banking industries are changing rapidly, with emerging technologies casting a shadow on the capabilities of traditional insurers. At Imburse, we endeavour to accelerate the efforts of insurers and insurance carriers to modernise, transform and digitise their systems. We hope that through this new feature Imburse will help insurers save time, money and headaches in integration, maintenance and continuous optimisation costs.”
The company’s latest Accelerator will allow pet insurance customers to access customized cover
London, 5th April 2022: FintechOS, the global leader in high-productivity fintech infrastructure to companies that offer financial services, today announced its entry into the pet insurance space with its newest Accelerator, empowering insurers to offer hyper-personalized pet cover to a market worth over USD 7 billion.
FintechOS has developed its new Accelerator to empower insurers to offer tailored pet insurance to a market that has seen significant growth due to COVID-19. To increase penetration into this valuable market, FintechOS is helping insurers to transition to data-driven, hyper-personalized experiences that switch the emphasis from pet insurance to pet wellness assurance. This will earn insurers greater customer loyalty, and those with a wider portfolio can leverage this to drive informed cross- and up-sell opportunities.
Using the Accelerator, insurance customers can upload the details of their pet, including photos, to customize and tailor their experience and their cover. Furthermore, customers can combine multiple pet insurance policies for different pets under one account that can be managed through an integrated super app.
"95% of pet owners consider their pet a family member, according to the Harris Poll.,” said Jonathan Philips, UK Insurance Sales Director. “Protecting your pet is a personal matter and customers are demanding a personalized experience from their insurers. We've worked hard to create a product that empowers insurers to enter this lucrative and growing digital space."
The pet insurance Accelerator brings further innovations to the award-winning FintechOS platform. FintechOS’ Northstar insurance product empowers insurers to take advantage of digital innovation without the need to upgrade their existing infrastructure. The platform includes ready-made accelerators, products that are ready to launch on installation, and can be completely configured and tailored to insurer needs.
Utilizing Accelerators within the FintechOS platform enables companies offering financial services to launch the products customers are demanding as soon as the need arises. Empowering FintechOS clients to build the future of financial services and insurance.
LV RELEASES 2021 FY RESULTS
LV release encouraging results for investors
''Sales of investments, equity release and protection products have increased significantly. We've created significant momentum in the business, introducing new products, and increasing our market share. And we've also repositioned our business to target customers where our brand and core products are most competitive.''