State Farm lets policyholders receive insurance claim payouts via PayPal

Insurance claim payouts - PayPal app on phone

The new option is a broadening if the insurer’s Digital Pay solution enabled by Fiserv’s Carat. The largest home and vehicle insurer in the United States, State Farm, has announced that it is expanding the insurance claim payouts options available through Digital Pay so that they can be instantly received in a policyholder’s PayPal account. Digital Pay allows customers to have their claims reviewed, approved and paid online. When filing through Digital Pay, policyholders have the opportunity to choose from among several payment methods for insurance claim payouts. These transaction…

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State Farm uses digital tools to deliver faster insurance payouts on claims

Insurance payouts - computer and dollar bills

The insurer has used a solution enabled by Fiserv to make the process possible. State Farm has rolled out a new digital solution for making insurance payouts on claims for its fire and auto customers. The digital payments solution uses technology from Fiserv, Inc. a leading global payments and financial services technology solutions provider. Using the Digital Pay option, customers are provided with improved flexibility after a claim. The Digital Pay service lets consumers choose a faster way to receive their insurance payouts on auto and fire claims. Many consumers…

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