Current Situation
Currently, insurance reimbursement can be a difficult process in certain situations like disaster relief. This is exacerbated if the business lacks bank access or is “underbanked.”
Goals and Objectives
The goal is to leverage open banking APIs and advanced data management to provide reimbursement options that go beyond ACH to include digital banking or virtual card options for employees or insurance holders.
Technology Deployed
Big Data, mobile technologies, enterprise hardware, cloud, advanced analytics, cognitive technologies, next-generation security, and business consulting
Use Case Summary
Use embedded insurance to provide a more consumer-like experience and offer digital banking reimbursement options that go beyond paper or ACH payment.