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Now live: Premium Accounting and CoverPay. Insurance native accounting, installment billing, and payment collection infrastructure with full control of your payment gateway.
A carrier payment processing system must support large-scale premium collection, installment billing, mid-term policy changes, delinquency automation, and reconciliation visibility across underwriting and accounting operations. CoverPay provides configurable payment infrastructure designed specifically for property and casualty carriers. It centralizes premium processing, installment schedules, endorsement adjustments, retry workflows, and gateway integration within a unified platform.
As part of the broader CoverPay insurance payment system, CoverPay aligns payment logic with rating, policy administration, and accounting systems.
Carriers require high-volume transaction handling with operational control.
CoverPay enables:
All payment operations are accessible through the unified Insurance Payment API This ensures payment processing integrates cleanly into carrier policy systems.
Many carriers support multi-payment premium plans.
CoverPay allows carriers to:
Full installment billing details: Insurance Installment Billing Software
Policy endorsements often change premium amounts.
CoverPay supports:
Detailed workflow: Insurance Endorsement Billing
Manual follow-up creates operational risk and compliance exposure.
CoverPay includes configurable retry automation:
Technical overview: Insurance Payment Retry Automation
Carriers often require direct control over merchant accounts. CoverPay connects directly to merchant gateways, including Authorize.net.
This model provides:
Finance and billing teams can:
This supports internal compliance, audit, and reconciliation workflows.
CoverPay supports:
It provides configurable infrastructure without forcing carriers into closed billing ecosystems.
Within the Selectsys platform:
This alignment ensures payment automation operates in sync with underwriting and accounting systems.
Platform overview: Platform
If your organization requires a carrier-grade payment processing system built around installment billing, endorsement adjustments, and retry automation, request a technical walkthrough of CoverPay.