NORTHBROOK, Ill., Jan. 28, 2015 /PRNewswire/ -- With just an
email address or mobile phone number, consumers can now get an
Allstate claim payment made directly to their bank account in a
single day with Fast Mobile e-Paymentsm, one payment
method now available in the new Allstate ExpressPaysm
portfolio. Working with Bank of America Merrill Lynch, Allstate
becomes the first U.S. company to use the new digital disbursement
method.
"When you have a claim, you want to receive your payment
quickly," says Allstate President Matt
Winter. "Fast Mobile e-Payment simplifies and accelerates
the payment process. It's another good example of how Allstate is
innovating on behalf of customers."
Fast Mobile e-Payment eliminates delays that can occur with
snail mail and lost checks by requiring only an e-mail address or
mobile phone number in order to process a payment. The new solution
– which can be faster than all existing payment methods, including
Electronic Funds Transfer – is immediately available across the
U.S. and works with any bank to handle all Allstate auto and
property insurance claims that have a single payee.
Here's how the service works:
- A consumer confirms he/she is willing to be paid utilizing Fast
Mobile e-Payment.
- Allstate gathers email address or mobile phone number from the
consumer and sends information to Bank of America Merrill
Lynch.
- Consumer gets an email or text message with instructions on how
to receive payment.
- A one-time registration process is performed by the consumer
that will register their email address or mobile phone number in
order to receive payment.
- Once registered, consumer automatically receives the payment
into his/her account.
"We are proud to be one of the first banks to offer this
electronic business-to-consumer payment solution," says Bank of
America Merrill Lynch Head of Global Payments Ather Williams.
"Allstate and their customers may benefit greatly from the speed
and convenience this solution provides."
Fast Mobile e-Payment is the latest, customer-friendly advance
in Allstate's overall claims experience that delivers fast, fair
and easy service. Allstate ExpressPay is the complete suite of
streamlined payment solutions Allstate offers consumers. The
company's customers already enjoy innovations at their fingertips
like Digital Locker® to inventory all their valuables
and belongings and QuickFoto Claim® that enables
customers to file an auto claim by submitting pictures through a
smartphone app.
"Consumers are more connected than ever, and they expect
companies to offer the technology to do business simply,
instantaneously and on-the-go," says Suren
Gupta, executive vice president of Allstate Technology &
Strategic Ventures. "We're committed to innovation and we'll add
more features like Fast Mobile e-Payment to Allstate ExpressPay
soon."
About Allstate Corporation:
The Allstate Corporation
(NYSE: ALL) is the nation's largest publicly held personal lines
insurer, protecting approximately 16 million households from life's
uncertainties through auto, home, life and other insurance offered
through its Allstate, Esurance, Encompass and Answer Financial
brand names. Allstate is widely known through the slogan "You're In
Good Hands With Allstate®." The Allstate brand's network
of small businesses offers auto, home, life and retirement products
and services to customers in the United
States and Canada. In 2014,
The Allstate Foundation, Allstate, its employees and agency owners
gave $34 million to support local
communities. Allstate employees and agency owners donated 200,000
hours of service across the country.
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SOURCE Allstate Corporation