Article

Celebrating excellence in technology at the Insurance Times Awards

As a B2B payments pioneer driving digital transformation for countless insurers today, Optal is at the forefront of technology excellence in the industry. But we’re just one company. It’s important that we continue to drive momentum in the sector by promoting best practice and innovation wherever we see it.

That’s why Optal was at the Insurance Times Awards 2018 on Thursday night, sponsoring the Excellence in Technology award. Congratulations to all who took part.

Driving change

Optal understands that technology-driven change has not always been easy in the insurance industry. This is especially true of supplier payments: for too long finance departments have been saddled with expensive, inefficient, manual processes riven with human error and complexity. That’s why we introduced Virtual Account Numbers (VANs): a new approach which allows insurers to pay suppliers with single use, 16-digit card numbers. They strip away the typical charges, high overheads and human error associated with legacy payments, whilst improving security and ensuring reconciliation is automatic and immediate.

This is just one example of digital disruption in the insurance sector. Thanks to a new breed of tech innovators like Optal, finance leaders have a range of options to help them improve margins, optimise inefficient processes and enhance the customer experience. That’s exactly what’s needed in these uncertain economic times.

At the event

We were thrilled to be able to sponsor the Excellence in Technology award on Thursday night. But it was even more thrilling to see first-hand the sheer quality and breadth of digital innovation happening in the sector right now. We’d like to extend our congratulations to the finalists:

Allianz Insurance, Audatex, Aviva, Direct Line Group Commercial Claims, Homelyfe, Optalitix and Vitality Health, and QBE European Operations.

Praise also goes to Bronze winner Allianz, Silver winner Homelyfe and especially Gold award winner, Aviva, whose entry the judges praised for the “simplicity and impact” of its technology. They added that it delivered “an excellent customer experience combined with significant cost-savings for the business.”

We look forward to transforming B2B payments for even more insurance sector organisations over the coming year.

Contact details:

Bradley Eccleshare
Optal Director of Marketing

M +44 0 7525 929198
T +44 0 20 3892 4928
[email protected]

About Optal Ltd

Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, Optal helps companies boost profitability across a growing number of sectors around the world.

Optal issues Mastercard branded payment products, driving its focus on developing and bringing to market, game-changing payment solutions.

Talk to us to discover how Optal can add value to your organisation.

[email protected]
View our offices

Sign up:

Subscribe to receive the latest thinking, white papers and articles.
  • By pressing “subscribe”, you agree that Optal may collect your full name and email address so we can add you to our subscriber list to receive marketing material, newsletters or general information about the Optal group’s services. We will only use your information for the purposes set out in our Privacy Notice. If you wish to unsubscribe you can do so at any time by emailing us at [email protected] or by clicking on the unsubscribe link at the end of any marketing email you receive from us.
  • This field is for validation purposes and should be left unchanged.