New Data: Insurance Industry Adopts Instant Payments Amid Rising Consumer Demand

Generation Instant: Growing Use of Instant Pay for Insurance Disbursements

Consumers increasingly want to receive insurance disbursements instantly, yet insurers are sending instant payments less. PYMNTS Intelligence’s latest 22-page report, “Generation Instant: Growing Use of Instant Pay for Insurance Disbursements,” a collaboration with Ingo Payments, contains five charts revealing how this mismatch in demand and supply presents a missed opportunity for insurers to improve customer satisfaction.

Inside the July Data Brief
  • 33%: Share of consumers receiving insurance disbursements who primarily receive them instantly
  • 49%: Portion of consumers who received medical claim payments who were not offered instant payment options
  • 14%: Share of consumers who received property or casualty insurance claim disbursements via instant deposit to a bank account

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