In the ever-evolving landscape of the insurance industry, innovation is the key to success. Recognizing the pioneers in this field, InvoiceCloud has been named to PropertyCasualty360’s Insurance Luminaries Class of 2023 in the category of Technology Innovation.

What are the PropertyCasualty360 Luminaries?

The Insurance Luminaries program by PropertyCasualty360 is an annual event that applauds innovative initiatives in the property and casualty insurance sector. This recognition program honors outstanding professionals, teams, organizations, programs, practices, and products that are pushing the boundaries to modernize and humanize the insurance business. The selection process involves a rigorous evaluation by industry experts who consider various factors, including goal achievement, impact, commitment to modernization, and ethical standards.

Elana Ashanti Jefferson, NU Property & Casualty Executive Editor, acknowledges the industry’s transformation and purpose, stating, “Today’s top insurance organizations recognize the industry’s history and purpose while embodying contemporary processes and services.”

Why InvoiceCloud Stands Out

InvoiceCloud has earned its place among the Insurance Luminaries for its exceptional contribution to the insurance industry. The company offers a comprehensive, user-friendly payment solution that aligns perfectly with the expectations of modern insurance customers. Moreover, InvoiceCloud utilizes a cutting-edge cloud infrastructure to ensure the payment experience remains streamlined, secure, and up-to-date.

Over the past year, insurance organizations utilizing InvoiceCloud have experienced remarkable improvements in their internal processes and electronic payment adoption. For instance, Georgia Farm Bureau Mutual Insurance witnessed a remarkable 30% reduction in billing and payment-related calls. Meanwhile, EmPRO Insurance saw an astounding year-over-year increase of 211% in electronic payment adoption.

Julie Schieni, Vice President of Insurance at InvoiceCloud, expressed her pride in the company’s recognition: “As an organization focused on simplifying customer and policyholder engagement, we’re proud that our industry-leading work with customers like Georgia Farm Bureau Insurance and EmPRO Insurance is being recognized by PropertyCasualty360.”

Learn more about these two success stories below:

EmPRO Insurance

EmPRO Insurance, a medical professional liability insurance carrier, faced challenges with an inefficient collections technology that complicated payments and increased manual workload for staff. This resulted in a poor policyholder payment experience and time-consuming payment cycles.

However, after transitioning to InvoiceCloud’s frictionless, user-centric digital engagement and payment solution, EmPRO has witnessed a multitude of benefits:

• Increased self-service and digital payment adoption, leading to improved accounts receivable processes.
• Higher policyholder satisfaction due to an engaging and customer-centric payment experience.
• Enhanced organizational efficiencies, allowing staff to focus on higher-priority tasks.
• Easy-to-use marketing resources for promoting digital payment options.

Adam Petersen, SVP and Chief Financial Officer at EmPRO Insurance, praised InvoiceCloud’s impact:

“InvoiceCloud transformed our collections process with a modernized solution that provided flexible, user-friendly payment options that increased digital payments and self-service rates. This reduced manual processes enabling our busy staff to shift focus to other critical tasks.”

Georgia Farm Bureau Mutual Insurance

Georgia Farm Bureau Mutual Insurance, another distinguished InvoiceCloud client, experienced its own success story after adopting InvoiceCloud’s digital engagement and payment solution. Their achievements include:

Increased self-service and digital payment adoption, resulting in improved operational efficiencies.

• Higher member satisfaction with a modern, user-friendly payment experience.
• Decreased payment-related calls, enabling staff to allocate their time to high-priority projects.
• Ongoing dedicated customer support, providing peace of mind to both the organization and its members.

InvoiceCloud for Premium Payments

The InvoiceCloud team is honored to be recognized by such a prestigious organization! Head here to learn more about our award-winning technology and commitment to enhancing policyholder experiences.