Insurance

Fast Claim Payments

Insurance Claim Payout

Adjuster-approved claim disbursement. Same-day claim payment instead of mailed checks, with reduced fraud through verified payee identity.

COINBAX CONTROLS AccidentReported ApprovalGate KYCVerification ComplianceCheck AmountRouting Claim Valid? Payment Sent
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Coinbax Controls Used

This template leverages the following programmable controls to create a secure, compliant payment flow.

Approval Gate

Multi-Party Auth

Adjuster approval required

KYC Verification

Compliance Gates

Verify payee identity

Compliance Check

Compliance Gates

OFAC screening

Amount Routing

Conditional Release

Direct to claimant or service provider

Use Case Example

Scenario

Auto Insurance Accident Settlement

PROTECTED BY COINBAX AccidentReported DamageAssessed EstimateApproved PayeeVerified Claim Valid? Payment Sent

The Challenge

An auto insurer processes 5,000 claims monthly. After adjuster approval, claimants wait 7-14 days for check delivery, leading to poor satisfaction scores and increased call center volume.

The Solution

Once the adjuster approves a claim, funds transfer instantly to the claimant's verified account. Body shops can also receive direct payment, eliminating the need for claimants to manage repair costs.

Result: Claim-to-payment reduced from 14 days to same-day, NPS improved by 35 points

Ideal For

Insurance Carriers

Automate claim payouts while maintaining full compliance with state regulations and internal fraud prevention policies.

Claims Administrators

Process high volumes of claims with programmable verification gates that ensure accuracy and reduce processing time.

Benefits Providers

Disburse employee benefits, health reimbursements, and wellness incentives with automated verification workflows.

Risk Management

Implement programmable controls that enforce underwriting guidelines and prevent unauthorized payouts.

Ready to implement Fast Claim Payments?

Talk to our team about customizing this template for your specific payment workflows.

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