Realex Payments has been established in the insurance sector for many years and we understand the challenges that insurers face. Internal processes must be fast and secure, applicant payment details must be accurately stored and processed and false payment rejections must be reduced. Investment in technology is essential for insurers that operate multiple channels for supplier payments, billing and refunds as, without proper infrastructure, these processes can become conflicting, costly and resource-heavy.
Providing a convenient and seamless experience for new and existing customers while remaining secure and PCI DSS compliant can be a challenge for some insurance companies. By leveraging our own solutions and experience with the support of our partner network, we can work with insurance companies to improve their solutions and services and reduce costs and fraud while adhering to current security regulations.
We provide the tools to help you verify that your customers are genuine. Detect suspicious transactions effectively by screening your transactions against a range of fraud checks that can be tailored and tuned to your business and the challenges of the market that you sell in. All of this powerful functionality is accessible through a straightforward and intuitive interface so that you can take control of your own fraud management.
Additionally, our Corporate Account Management team can provide expert support to help you minimise the operational costs associated with chargebacks without compromising on genuine transactions.
Payment experience is an important factor in conversion maximisation. You must ensure that your customer can pay quickly and easily through the channel that is most convenient to them. Our Hosted Payment Page uses responsive design technology to adapt to all devices, providing a quality experience for your customers whether they are paying via mobile, tablet or desktop etc.
You can further improve the payment experience by using our card storage and recurring payments suite to implement a one-click payment solution for your repeat customers. Our decline analysis tool further assists in your conversion maximisation by providing you with visibility over the reason for transaction decline. This enables you to perform analysis, detect patterns and identify ways to minimise declines.
Effective PCI Compliant Operations
Managing legacy IT systems and multiple platform integrations while remaining PCI DSS compliant can present a variety of operational challenges. Many insurers are consolidating disparate platforms to streamline their operations and improve customer experience. We provide in-depth workshops with insurers and relevant third parties to find the most suitable PCI DSS compliant infrastructure solutions.
We have worked with some of the largest insurance companies to successfully migrate multi-line products (i.e. travel, car, pet, home insurance), replicating the insurers’ mapping structure on our processing platform for a seamless integrated solution. We are PCI DSS Level 1 compliant and are committed to working with insurers and relevant partners to ensure that integrated services are also fully compliant.
Seamless Customer Experience
Insurers must offer a seamless experience for both new and renewing customers. We offer a variety of solutions to enhance the customer journey. Our Hosted Payment Page is fully responsive and displays correctly across all mobile platforms to provide a quality payment experience for all customers regardless of the device that they use to pay. It can be customised to provide consistent branding throughout the checkout process or it can be implemented as a lightbox that appears on your own webpage. This reinforces brand security and trust and ultimately improves conversion. To further improve the payment experience, we provide payment scheduling and card storage services that allow you to automate renewals, minimise friction and improve success rates. Our tokenised recurring payments solution is trusted by hundreds of insurers who handle thousands of customer card details. By letting us take care of the card storage, insurers can keep their PCI overheads to a minimum.
Customer Service and System Resilience
At Realex Payments, we never lose sight of the fundamentals – a reliable payment platform and good customer service. We offer a robust service with the capacity to manage any peaks in volume, and our technical account management team is on hand to provide expert advice across all elements of the payment value chain. All members of our account management team are technical and payment experts who can help you to optimise your payment process for maximum conversion.
Managing your Payment Processing with Ease
We take care of all your ecommerce, mobile commerce and telephone payments from end-to-end. Our hierarchical account structure allows you to manage all your brands and channels easily through a single account.