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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.
An insurance payment processing platform must support more than basic transaction handling. It must align with underwriting workflows, policy lifecycle changes, installment schedules, and premium reconciliation requirements. CoverPay is a configurable, API-driven insurance payment processing platform designed specifically for MGAs, wholesalers, and property and casualty carriers. It centralizes premium collection, installment automation, endorsement billing adjustments, retry logic, and gateway integration into a unified infrastructure layer.
As part of the broader CoverPay insurance payment system, this platform supports both direct and agency billing environments.
CoverPay enables organizations to process:
All transactions are managed through a unified Insurance Payment API This ensures consistent payment handling across rating, policy administration, and accounting systems.
Unlike generic payment processors, CoverPay supports structured installment billing for insurance premiums.
Organizations can:
Full installment capability: Insurance Installment Billing Software
Insurance premium rarely remains static.
When endorsements occur, CoverPay automatically supports:
Detailed workflow: Insurance Endorsement Billing
Delinquency management is critical in insurance operations.
CoverPay includes configurable retry automation:
Technical explanation: Insurance Payment Retry Automation
CoverPay connects directly to your merchant account, including Authorize.net.
This model allows organizations to:
This differentiates CoverPay from closed insurance payment ecosystems.
CoverPay supports payment processing needs for:
For MGA-specific workflows: MGA Payment Processing System
For carrier-level automation: Carrier Payment Processing System
Within the Selectsys platform architecture:
This integration ensures payment logic aligns with underwriting and accounting systems.
Platform overview: Platform
If you are evaluating an insurance payment processing platform that supports installment billing, endorsement adjustments, and configurable retry automation, request a technical walkthrough of CoverPay.