Insurance

Payment solutions built for how insurance really moves

Insurance payments are time-sensitive, highly regulated and closely tied to the policyholder experience — which is why payment solutions for insurance must do more than simply move money. They must support trust, compliance and operational control while delivering the speed today’s customers expect.

With SHAZAM’s secure payments processing infrastructure, you can modernize your disbursement solutions — from claims payout processing to premium refunds and agent commission payments. Our technology enables real-time and instant payments, helping you move funds quickly, securely and with full visibility.

Instead of forcing your claims teams to adapt to rigid legacy systems, SHAZAM’s flexible infrastructure works alongside your existing workflows — helping you scale, automate and deliver faster payouts and better policyholder experiences.

Overcoming obstacles to insurance payments

Insurance companies and insurtech platforms face mounting pressure to modernize payment operations. Rising fraud risks, outdated settlement methods and increasing policyholder expectations make fast, secure, compliant payment capabilities essential to modern insurance workflows.

SHAZAM helps overcome these challenges with a secure, real time payments infrastructure built for scale. Our technology powers the movement of funds across trusted financial networks nationwide — enabling you to deliver instant, reliable payments while safeguarding against fraud.

Speed up claims payouts

Challenge:

Traditional ACH transfers and paper checks can take days — sometimes weeks — to reach policyholders. These delays create friction during critical moments, increasing inbound inquiries, lowering customer satisfaction and potentially leading to policy churn.

Solution:

SHAZAM helps insurers accelerate claims payout processing through modern payments infrastructure powered by the Peregrine™ payments gateway, which seamlessly connects to multiple card networks and financial institutions.

With modern API-driven payments infrastructure, you can integrate once and instantly push approved payouts directly to debit cards and deposit accounts in seconds — eliminating delays associated with batch settlement or mailed checks.

The result: faster claims payments, reduced risk exposure tied to mailed checks and improved policyholder satisfaction during critical life moments.

Modernize disbursements

Challenge:

Insurance payments often need to reach policyholders, vendors and partners across many different banks and card networks. Without broad network connectivity, insurers may struggle to deliver fast digital disbursements, forcing reliance on slower methods like ACH or paper checks.

Solution:

As one of the nation’s largest independent debit networks, the SHAZAM payments network provides insurers with seamless connectivity to major card brands — including Visa^® and Mastercard^® — giving you access to nearly every debit cardholder and deposit account in the U.S.

By leveraging the SHAZAM network, you can dramatically modernize your disbursement solutions, pushing secure, real-time payments directly to eligible cards and accounts in seconds.

The result is predictable payments processing, reduced operational friction and secure, reliable digital disbursements.

Reduce insurance payout fraud

Challenge:

Insurance payments are increasingly targeted by sophisticated fraud networks, with fragmented payment systems and delayed settlement windows making it difficult to detect suspicious activity before funds are released.

Solution:

SHAZAM integrates advanced fraud monitoring into our payments processing environment to help reduce insurance payout fraud before it impacts policyholders or carriers.

Our fraud management tools leverage neural-network analytics powered by FICO^® Falcon^® Fraud Manager to identify suspicious transaction patterns in real time. This allows insurers to detect fraudulent transactions instantly, protect sensitive policyholder data, maintain compliance across regulated channels and reduce fraud losses — all without slowing legitimate payments.

By embedding intelligent fraud monitoring into modern insurance funds transfer solutions, insurers gain stronger protection without sacrificing speed.

Maintain regulatory compliance

Challenge:

Managing payment disputes and adhering to regulatory requirements — including Reg E — can place a heavy administrative burden on insurance teams. These manual processes consume valuable internal resources and increase operational risk.

Solution:

SHAZAM’s dispute resolution services streamline and automate complex payment disputes and compliance activities without adding operational overhead.

Our dedicated team of experts handles documentation, tracking and investigation management, and provides audit-ready records and reports. This results in faster dispute resolution for policyholders and reduces the compliance workload for your internal teams.

By offloading manual dispute administration to SHAZAM, you can reallocate internal resources to core functions such as claims processing and customer support.

Insurance payment trends shaping the claims experience

Policyholder expectations are rising — and the speed of insurance payments is becoming a critical factor in customer satisfaction and retention. Yet across the industry, many claims payouts still rely on slower settlement methods that delay access to funds when customers need them most.

Recent industry research highlights the growing gap between what policyholders expect and how insurance payments are typically delivered today. These insights reinforce the need for modern payments infrastructure that helps insurers move funds faster, improve the claims experience and meet rising policyholder expectations.

of customers expect claim payouts within five days

of consumers would pay extra for instant claim payouts

of insurance disbursements are paid instantly today

Proven payments expertise serving the insurance industry

Backed by more than 50 years of operating regulated payments infrastructure, SHAZAM delivers the reliability, compliance expertise and operational scale insurers need to modernize their payment ecosystems.

Whether you’re expanding digital disbursements, accelerating settlement speed or streamlining legacy workflows, SHAZAM provides adaptable payment solutions that align with your strategy — helping you move faster without sacrificing control or security.

Ready to see what modernizing claims can do for your organization?