Insurance Payment Solution Brings Efficiency

New insurance remittance processing solution with Check 21 allows this company to get rid of second pass encoding, eliminate courier costs, gain a day of float on deposits and reduce bank fees.

Quincy Mutual Fire Insurance Company is one of the country's oldest insurance companies. They offer a full range of personal and commercial insurance products to 270,000 policy holders. Quincy Mutual is constantly looking for ways to be more efficient. They accomplish this by actively seeking and implementing new technology.

Quincy's remittance processing operation has undergone three transformations since 1995. They've gone from outsourcing to a lockbox provider, to processing premium payments in-house, to replacing their solution with next-generation technology, to implementing electronic payment processing.

Their insurance payment processing solution from RP Solutions includes:

• Check 21 for image based check processing and clearing
• ExpertRPS- we customized our remittance processing solution with the following features
  • Exceptions handling
  • ICL deposit files
  • Posting file extracts
• ExpertICE for image archive and research
• NCR 7780 check imaging transports