Case Study: SouthwestRe achieves faster, lower-cost claims payments with WEX virtual payments

SouthwestRe - Customer Case Study

SouthwestRe, a leading third‑party administrator of finance & insurance products and reinsurance companies, processes roughly 10,000 claims per month and faced an inefficient, paper‑based payment workflow that drove up clerical overhead and lengthened call handling times. To modernize payments, SouthwestRe partnered with WEX and adopted WEX’s virtual payments solution for the insurance industry.

WEX implemented a digital program that issues one‑time electronic payment cards limited to the exact amount owed and integrated with SouthwestRe’s existing systems. The change shifted 60–70% of claims to virtual payments, cut average call handling time from 5.0 to 1.9 minutes, reduced overhead, and enabled faster payments that captured rebates and improved customer satisfaction.

SouthwestRe