Case Study: Shelter Insurance achieves faster claims payments with Commerce Bank's CommercePayments PreferPay

CommercePayments® PreferPay®, Your Way | Commerce Bank

Shelter Insurance, an insurance company based in Missouri, faced a challenge in paying claims in a timely and secure manner, especially when payments needed to be distributed to multiple parties. They sought a solution that avoided the security risks of collecting account information for one-time payments and the delays of mailing checks. After exploring options, they partnered with their longtime banker, Commerce Bancshares, to develop a custom solution.

Commerce Bancshares developed its CommercePayments PreferPay solution in collaboration with Shelter Insurance. The solution, branded by Shelter as Customer Choice, is a web portal that allows claimants to choose their payment method, including a direct-to-debit option that delivers funds in about 30 minutes. No personal account information is stored for the one-time transaction. The result was greatly improved customer satisfaction, with claimants loving the faster payment options. Commerce Bancshares was praised for being responsive and worked with Shelter to implement the solution and plan for future multi-party payment capabilities.

Shelter Insurance