SAN MATEO, CA & KANSAS CITY, Missouri – (COMMERCIAL THREAD) – Guidewire Software, Inc. (NYSE: GWRE) and Commerce Bank (NASDAQ: CBSH) today announced that the new Ready for guide wire-valid accelerator for ClaimCenter is now available to users in the Guidewire Market.
PreferPay®, the CommercePayments ™ claims payment platform, allows insurers to shift their claims payments to a digital first approach. PreferPay® manages digital payment processing for consumer, multi-party and supplier payments. Beneficiaries can choose the best payment method to meet their needs from a number of digital and traditional offerings, allowing insurers to give applicants faster access to their funds and increase policyholder satisfaction. For digital payment methods, payees access an insurer-branded, automated, mobile-friendly portal, relieving the burden on adjusters of processing payments and answering payment questions. With easily accessible digital payment methods that make payment faster, claimants are encouraged to switch to digital payment, moving away from checks and lowering claims payment costs for insurers .
With PreferPay® for ClaimCenter, insurers can:
Quickly create and stop traditional one-time and recurring claim payments to one or more parties;
Easily attach relevant documents and transmit data to payments; and
View real-time payment status updates and payment history in ClaimCenter.
“PreferPay® for Claims Payments is a reflection of Commerce Bank‘s commitment to be an innovative and collaborative financial partner for our clients and to solve real challenges, ”said Jeff Burik, Executive Vice President, Director of Commercial Payments at Commerce Bank. “Our solution provides faster payments for beneficiaries, while reducing costs associated with checks and claims adjuster workload. We are delighted to connect PreferPay® with Guidewire to make these benefits even more accessible to ClaimCenter users.
“We congratulate Commerce Bank on releasing its digital payment application for ClaimCenter,” said Becky Mattick, vice president, Global Solution Alliances, Guidewire Software. “Digital claims settlement methods are faster and easier than checks for policyholders and insurers alike. Commerce Bank’s app seamlessly connects PreferPay® and Guidewire, helping insurers migrate their customers to digital methods of claims settlement.
About the Banque du Commerce
With $ 34.5 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered banking holding company providing a full range of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., draws on over 150 years of proven strength and experience to help individuals and businesses solve their financial problems. In addition to offering payment solutions in the United States, Commerce Bank currently operates full-service banking facilities in the Midwest, including in the metropolitan areas of St. Louis and Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. . It also has sales offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis and Grand Rapids. Commerce offers high quality service and sophisticated financial solutions in regional branches, trade offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more about www.commercebank.com.
1. As of September 30, 2021
About the Guidewire PartnerConnect ecosystem and Ready for guide wire
Guidewire’s PartnerConnect solution partners provide software, technology and data solutions as well as insurance support services. Our solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, applications and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for safety, quality and compatibility with Guidewire, and can be found at Guidewire Market.
For more information on Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.
About Guidewire software
Guidewire is the platform P&C insurers trust to engage, innovate and grow effectively. We combine digital, core, analytics and AI to deliver our platform as a cloud service. Over 450 insurers, from new businesses to the world’s largest and most complex, operate on Guidewire.
As a partner of our clients, we continuously evolve to enable their success. We pride ourselves on our unprecedented implementation track record, with over 1,000 successful projects, supported by the industry’s largest R&D team and ecosystem of partners. Our marketplace provides hundreds of apps that accelerate integration, localization and innovation.
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