Fiserv and State Farm® Speed Fire and Auto Claim Payments with Digital Payout Solution
May 11 2021 - 9:00AM
Business Wire
Customers will be able to access funds quickly
and select how they are received
Payout capabilities are part of the Fiserv
omnichannel commerce ecosystem
State Farm, the largest insurer of cars and homes in the nation,
is accelerating the claims payout process for customers with
technology from Fiserv, Inc. (NASDAQ: FISV), a leading global
provider of payments and financial services technology
solutions.
State Farm is incrementally deploying digital payout technology
from Fiserv, which will enable the company to offer customers speed
and flexibility in how they receive auto and fire claim payments.
With the launch of Digital Pay, claims that have been reviewed and
approved can be paid digitally. If a claimant opts for a digital
payout, funds can be received in their personal account in a matter
of seconds – and disbursed via the payment method that best suits
their needs, including to a debit card or directly to their bank
account.
“We believe this new capability will support our goal to
personalize the customer experience and help more people in more
ways,” said Schuyler Schupbach, vice president of Property and
Casualty Claims at State Farm. “As an industry leader, we are
committed to ongoing transformation to meet the changing needs and
expectations of customers including modernizing our technology. We
are excited to introduce digital payment options through Fiserv
that will simplify the claims payout process for our customers and
provide added convenience.”
At Fiserv, digital payouts are part of the Carat omnichannel
commerce ecosystem that securely delivers unlimited payment
opportunities across the most popular channels and devices. Through
simple API access, Fiserv enables clients like State Farm to easily
access pre-integrated solutions – such as payouts – that allow
businesses to imagine and realize new customer experiences.
“Carat is helping organizations like State Farm move money and
information with the speed, flexibility, and convenience that
today’s consumer demands,” said Nandan Sheth, head of Carat and
Digital Commerce at Fiserv. “As businesses look to create positive
new consumer experiences, the ability to pay out funds with the
same speed and simplicity with which they are paid in can be a
significant differentiator.”
In a world that is moving faster than ever before, Fiserv helps
clients deliver solutions that are in step with the way people live
and work today – financial services at the speed of life. Learn
more at fiserv.com.
Additional Resources:
- Digital Disbursement and Payout Solutions
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and
information in a way that moves the world. As a global leader in
payments and financial technology, the company helps clients
achieve best-in-class results through a commitment to innovation
and excellence in areas including account processing and digital
banking solutions; card issuer processing and network services;
payments; e-commerce; merchant acquiring and processing; and the
Clover® cloud-based point-of-sale solution. Fiserv is a member of
the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE
World’s Most Admired Companies®. Visit fiserv.com and follow on
social media for more information and the latest company news.
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version on businesswire.com: https://www.businesswire.com/news/home/20210511005369/en/
Media Relations: Chase Wallace Director, Communications
Fiserv, Inc. 470-481-2555 chase.wallace@fiserv.com
Additional Contact: Ann S. Cave Vice
President, External Communications Fiserv, Inc. 678-325-9435
ann.cave@fiserv.com
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