Insurance

Automate insurance premium collections and accelerate claim payments

Improve customer experience

Increase broker and underwriter satisfaction

Streamline payment operations

Improve your customer experience with instant claim payouts. Streamline your payment operations with automated premium direct debit and reconciliation.

Improve your customer experience with instant claim payouts.

Streamline your payment operations with automated premium direct debit initiation and reconciliation.

A solution for all your payment use cases

Real-time claim payments

Offer superior user experience by providing instant claim payouts, thanks to automated claim payment workflows that fit your internal controls and approvals.

Automatic payment collection and reconciliation of insurance premiums

Save your team time by automating premium direct debit initiation and reconciliation.

Early contract closure payout

Increase operational efficiency by automating and accelerating early contract closure payouts.

Centralized counterparty view

Rationalize your systems and organization by merging claim disbursements and premium collections workflows and visibility into a single platform.

Programmatically move funds across accounts and banks

Manage risk and comply with regulators’ and partners’ requirements by automatically allocating funds across multiple accounts and banks.

Underwriter payouts

Increase operational efficiency and underwriters’ satisfaction by automating and accelerating underwriter payouts.

Broker payouts

Increase operational efficiency and brokers’ satisfaction by automating and accelerating brokerage fee payouts.

Real-time claim payments

Offer superior user experience by providing instant claim payouts, thanks to automated claim payment workflows that fit your internal controls and approvals.

Automatic payment collection and reconciliation of insurance premiums

Save your team time by automating premium direct debit initiation and reconciliation.

Early contract closure payout

Increase operational efficiency by automating and accelerating early contract closure payouts.

Centralized counterparty view

Rationalize your systems and organization by merging claim disbursements and premium collections workflows and visibility into a single platform.

Programmatically move funds across accounts and banks

Manage risk and comply with regulators’ and partners’ requirements by automatically allocating funds across multiple accounts and banks.

Underwriter payouts

Increase operational efficiency and underwriters’ satisfaction by automating and accelerating underwriter payouts.

Broker payouts

Increase operational efficiency and brokers’ satisfaction by automating and accelerating brokerage fee payouts.

A payment operations platform for insurance companies

Payments

Send payments through SEPA credit transfer and instant credit transfer, Bacs, and FPS

Collect payments through SEPA direct debit core and B2B and Bacs direct debit

Send international payments through SWIFT

Manage SEPA R transactions (recalls, rejects, returns, and refunds) and inquiries

Receive real-time notifications as payments are processed

Accounts

Receive prior-day balances and transactions at the end of the day

Receive intraday balances and transactions throughout the day

Receive real-time notifications as transactions are posted and balances are calculated

Search balances and transactions with no history limit

Connectivity

Connect to your banks through a single RESTful API

Numeral connects to your banks and manages payment, payment status report, and account report files for you

Be notified in case of bank connection or file transfer failure

Reconciliations

Automatically reconcile payments processed with transactions posted

Use virtual IBANs to automate the reconciliation of incoming payments

Use expected payments to reconcile payments executed outside of Numeral

Receive real-time notifications as reconciliations are created

Counterparties

Onboard and verify counterparties to facilitate payments

Manage all counterparties and counterparty accounts in one single place

Assign virtual accounts to counterparties and rotate virtual accounts across counterparties

Notify counterparties as you send, request, or receive payments

Controls

Approve payment orders and payment files before they are sent to your banks

Setup payment approval workflows that match your internal controls

Review audit trails of your payments and counterparties

Keep the full control of your data

Frequently Asked Questions

How much does Numeral cost?

Numeral’s pricing consists of a platform subscription fee, a fee based on the payments processed on the platform, and a fee based on the number of accounts connected to the platform.

Can I control access to the platform by teams or individuals?

Yes. Numeral allows you to easily configure roles and permissions for your users via a central dashboard. You can also set developer permissions to control usage of the API.

Can I notify my teams about claim payments pending their approval?

Yes, your teams can be notified directly within the Numeral dashboard. You can also use Numeral’s API and webhooks to build an approval notification system for your teams.

Can I notify my customers when their claims disbursements have been executed?

Yes, you can subscribe to events to be notified via webhooks as payments are processed (e.g., sent or rejected) by your bank. You can use those webhooks to build a notification system for your customers.

Can I use Numeral with any bank?

We need to have an integration with your bank for you to use Numeral. Check our current bank coverage. We’re building integrations with new banks every month, and prioritise based on our customers’ needs. Get in touch with us to discuss your bank coverage needs!

Can I manage both premium collections and claim disbursements using Numeral?

Yes, you can use one Numeral account with as many supported banks, accounts and payment methods as you want.

Does Numeral intermediate funds?

Numeral is a payment operations software, not a payment service provider. As such, Numeral doesn’t intermediate funds. Your funds flow directly between yours and your customers' and partners' bank accounts. Numeral only exchanges files and messages with your banks to initiate payments from your bank accounts or fetch account or payment-related information. Doing so, Numeral enables you to move funds directly in and out of your bank accounts.

Resources

Instant Payments

How instant payments will change insurance

Claims are when the true value of insurance is realised for policyholders. And 53% of them are willing to change insurance company to receive claim payments ...
View more
Product

How Numeral supports SEPA instant payments

The Numeral platform supports SEPA instant payments, in addition to regular SEPA credit transfers as well as SEPA direct debits. Companies can use the Numer ...
View more
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