The Finance Case for Eliminating Paper Checks in P&C
ECHO
|
September
28,
2026
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Property and Casualty (P&C) insurers are more attached to paper checks than almost any other industry. Check payments still account for more than 50% of claims transactions industry-wide, more than double the 22% average across other sectors.
Everything downstream of a paper check costs a carrier more: more to issue, more exposure to 1099 penalties, and more exposure to fraud.
Inside You'll Learn:
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What a paper claim payment costs to issue and receive compared with an electronic payment, and why the U.S. Treasury is phasing out its own checks
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Why a per-check cost gap compounds every month at claims volume
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How a 5% name and TIN mismatch rate turns into recurring 1099 penalty exposure for your finance team, whether you caused the mismatch or not
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Why checks are 31× more likely to be hit by fraud, and what the 2024 jump in mail theft reports means for every mailed claim check
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How ECHO® for Property and Casualty carries 1099 mismatch liability, with zero fines across six consecutive filing seasons
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How to get a free savings analysis built on three months of your own payment history
