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Insurance
Spotlight

David Punter
Insurance SME

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Opportunities for Insurance

Optimise with us

Digital transformation is bringing a host of new opportunities thanks to technologies such as cloud computing, AI, big data analytics, block chain and the Internet of Things (IoT). They promise much, including the ability for insurers to create new products and services to better meet changing customer demand, as well as boosting efficiencies and reducing costs.  Nowhere does digital transformation have the potential to benefit insurers more than in the B2B payments space. The payment of suppliers is a vital part of the claims process, but historically it’s been riddled with inefficiencies that hurt the bottom line, open insurers up to potential fraud, and threaten to sour relationships with suppliers and customers.

The good news is that digital end-to-end systems already exist to take the inefficiencies out of B2B payments. By moving away from cheques, ACH payments and manual processes to automated electronic payment systems such as Virtual Account Numbers (VANs), insurers can cut overheads, improve efficiencies, reduce the risk of fraud and generate bottom-line revenue.

White Paper

Research finds the complexity of B2B payments is holding back large organisations

How digital payments technology can transform the complexities of B2B payments.

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White Paper

A new approach for CFOs to drive greater business agility and cost effectiveness

B2B payments may not be an area many CFOs have thought to look for value, but it could be a quick win.

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Our solutions approach

Optal is a brilliant optimiser. We help Insurers gain a competitive edge by focussing on their own payment processes. We see and act. We help you reveal the problem and resolve your payment issues with a can do culture, creativity and expert advice.

Adding value

Unequalled opportunities

Multiplier effect

Reducing risks

Adding value

Optal’s automatic reconciliation tools can process and match multiple rich data sets, and can be customised to your needs. With every payment transaction having its own unique number you’ll never have to manually reconcile payments again.

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Solutions guide

How automating B2B claims payments can improve your revenues

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Unequalled opportunities

Even if you don’t fully use your corporate credit, you’re still paying for that latent capacity on your PCards and more. We help free your cash flow saving you money and extending your buying power.

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Solutions guide

How automating B2B claims payments can improve your revenues

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Multiplier effect

We reconfigure and streamline your payment processes to reveal and eliminate hidden inefficiencies. Our preferred status with global card and banking partners lets us minimise transaction costs – and even turn cost centres into profit centres via rebates and rewards. Instead of costing money, your business could be earning a reward on every payment transaction.

Watch the video
Solutions guide

How automating B2B claims payments can improve your revenues

Download PDF

Reducing risks

Optal’s payment platform helps to solve payment security issues head-on by cutting the cost and complexity of payments through more efficient, secure processes.

Watch the video
Solutions guide

How automating B2B claims payments can improve your revenues

Download PDF

The Optal solution

Time to consider VANs

Virtual Account Numbers are automatically generated, single-use virtual cards that are used to pay suppliers. Backed by major card schemes like Mastercard, they generate unique numbers for each transaction – improving security and control – and reconciliation is automatic and immediate, reducing overheads and manual errors.

Optal provides insurers with innovative and secure solutions that are practical and profitable, to reduce risk and add value.

Discover how VANs add value to our customers:

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

info@optal.com
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