Insurers sent about 20 percent of all payments to policyholders using this digital method. Last year, nearly one in five consumers received insurance payouts at least one time, and among those 49 million policyholders, a larger number than ever before received the funds via instant payments. That meant 2022 represented the third consecutive year of increases for the use of this method of payments. The rising interest in and use of instant insurance payouts indicates that insurers will be increasingly required to provide customers with options from which they can…
Read MoreInsurance payouts made via instant payments reached $227 billion last year
