Imburse Payments has been shortlisted for Leading Emerging Payments Organisation at the PAY360 Awards 2023.
The PAY360 Awards (previously the Emerging Payments Awards) celebrates innovation and collaboration by recognising companies that have made significant advances in how we pay today.
Now in its 16th year, The PAY360 Awards is the most prestigious event of the year for the UK payments industry, attended by over 950 of the most senior executives from across the payments value chain.
Below is some of the information and evidence submitted for Imburse to be recognised for this award.
According to the UK Payments Markets Report, in 2021, 57% of all UK payments were made using cards, and businesses made over £5.5bn payments (£3bn on a b2b basis and £2.5bn, b2c) – 14% more than the year before.
The payment landscape is changing and with customers having higher expectations and experience perceptions, industries are under increasing pressure to deliver a frictionless experience between different payment types, offering maximum flexibility, while minimising costs.
Within the insurance sector, despite the collection of premiums and payment of claims being ‘mission critical’ to the insurance value proposition, this area is not considered a core competency. Most business models fail to identify where the function sits, which means leaders are unable to overcome their payment challenges.
Launched in 2018, by Co-Founders Oliver Werneyer and Carl Strempel, Imburse has 41 employees and was recently acquired by US-based Duck Creek Technologies. Its payment platform for insurers is available on a stand-alone basis or through a multitude of CRM and core systems.
Imburse’s cloud-native software-as-a-service payment solution brings greater ease and efficiency into end-to-end insurance transactions.
Clients include: iptiQ, Generali, Swiss Re, Zurich, Beazley, CA Seguros, ICEA Lion and Insure and Go. Imburse is also a partner of insurance tech platform providers Guidewire, msg and Sapiens, and supports system integrators Accenture, Baringa and Bearing Point.
Imburse enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place. The consumer-friendly platform provides policyholders with an easy-to-use, flexible payments experience and the ability to quickly and securely direct payments.