SureSettle launched in the insurance industry
A break-through system has been created for the insurance industry which greatly simplifies all processes in the claims settlement chain, saving costs and almost entirely eliminating the risk of fraud.
The traditional method of obtaining quotes by email, collating and selecting them, then emailing order confirmations and following up, ending in piles of paper and files staying open for ages, is still time consuming but prevalent and is a process fraught with delays, customer complaints and fraud.
Gift Bucks (Pty) Ltd has developed an all-in-one, claim-to-quote-to-settlement fulfilment solution. Called SureSettle™, it is an electronic system allowing the insurer to request and receive quotes from a panel of suppliers instantaneously. Those who don't respond in ‘fast-track' time with price and availability, simply don't get the business.
The insurance consultant chooses the quote they want, the supplier is immediately informed through the system, and the client is sent a highly secure SureCode™ detailing which supplier to go to in order to obtain their replacement item – or have the choice of receiving their items at their homes. The insurer is invoiced by the supplier instantly through the system – and is paid directly on their terms – no third party payment risks at all.
CEO Geoff Saner says "SureSettle™ is so much more than just a quoting portal; it closes the loop and removes the need for cash settlements, and eliminates all the fees associated with settling claims using insurance debit cards.” He sees it becoming the benchmark system in the industry due to the array of benefits it brings, such as zero costs to the insurers or suppliers to implement and utilise and zero integration needed into their current systems. "Combining next-generation online and mobile technology, SureSettle™ provides a genuine closed loop end-to-end claiming, quoting and payment process that is fast, simple, secure and very cost effective”.
Amongst several other major insurance brand names, SureSettle™ was recently piloted and robustly bench-tested by one of the big four banks in South Africa and has been given the green light to be deployed.
