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:
Here’s what that math looks like, dollar for dollar — and what closing the gap is worth.