Case Study: BIIA Insurance cuts transaction costs by 50% and boosts electronic payments by 42% with Paystand

Streamlined payments Save time and reduce Fees for biia insurance

BIIA Insurance, a Norfolk, VA–based property and casualty insurer founded in 1999, faced unsustainable manual billing as customers paid by check, faxed credit card forms, or phone—processes that consumed staff time and exposed the company to high, unpredictable credit card fees. To digitize collections and reduce costs, BIIA Insurance turned to Paystand for a modern payments solution.

Paystand deployed its digital payment gateway and integrated AR/Enterprise Cash Cycle capabilities in days, enabling ACH, credit and debit card payments on BIIA Insurance’s website with no staff intervention and a consistent blended fee rate. The Paystand implementation improved back-office efficiency, drove a 42% increase in bills paid electronically, and cut transaction costs by nearly 50%.

BIIA Insurance

Patty Letchworth

Chief Executive Officer