Looking for Something?

Simplify the Business of Insurance & Warranty Claims with Virtual Payment Solutions

WEX Virtual Payments allow insurance companies to pay preferred and out-of-network suppliers with a real-time, electronic payment method.

Streamline your supplier payment processes with automatic reconciliation and reduce administration and overhead in accounts payable with our virtual payment solutions.

Plus, benefit from extended payment terms for your accounts payables and improve supplier relationships.

Key benefits of our virtual payments solution for insurance businesses:

  • Pay and close claims faster helping increase customer satisfaction
  • Secure payment method that is globally accepted by suppliers in 210 countries through existing systems
  • Control and track the timing, recipient and exact amount of each payment helping to avoid fraud and misuse
  • Automatically reconcile payments with custom data and reporting – freeing up time and resouce
  • Enhance working capital with access to a credit line at no cost and earn an incentive for payments made

It is quick and easy to get started with our virtual payments solution with no new hardware or software required for implementation. The solution provides you with access to flexible, customisable data and reporting by category, supplier and time period – which can be used to streamline processes in your accounts payable department.

How it Works

Insurance How it Works

Fact Sheet

Streamline Claims Payment Processes
Streamline supplier payments with automatic reconciliation which facilitates reduced administration and overhead in accounts payable.
This fact sheet is a must read for insurance and warranty companies looking to ensure that suppliers are paid in an efficient manner.

Video

Introducing WEX Virtual Payments
Avoid late payments, optimise cash flow, improve operational efficiency and save money when making payments to all types of suppliers.
Watch the video to understand more about WEX and our virtual payments solution and how it benefits businesses across a variety of industries.

Fact Sheet

The Innovative Way To Manage Cash Flow
The method you choose to pay supplier can be crucial to successfully managing the monetary requirements of your business.
This fact sheet explores the benefits of choosing a virtual payments solution which includes credit funding for businesses looking to take control of cash flow.

  • Our Customers
  • SafeGuard
  • SouthwestRe