MEMIC Streamlines Payments to Injured Workers, Service Partners With Rollout of ClaimsPay® Electronic Payment System
(Portland, ME) – The MEMIC Group today began issuing payments to injured workers and service partners electronically via a new partnership with One Inc.
MEMIC’s adoption of One Inc’s ClaimsPay® platform allows thousands of injured workers and service partners to access their funds more quickly, easily, and securely – leading to an improved claim service experience for providers, less stress for injured workers, and substantial cost savings for MEMIC.
Critical payments that once reached recipients in days or weeks via bank check and postal delivery now can be transferred in seconds by ClaimsPay®, widely considered the leading digital payments network for the insurance industry. The result for injured workers is less stress and more control over how they receive their benefits.
“MEMIC’s ultimate goal is to keep workers safe, but when an injury does occur, it’s our mission to help get them back to work and a productive life,” The MEMIC Group CEO Michael P. Bourque said. “One way we do that is by creating great relationships with innovative business partners, and our rollout of ClaimsPay® exhibits that. Getting the appropriate benefits delivered promptly to workers under our care is one of the most important things we do. This partnership will add more certainty to that effort.”
Injured workers who once only had two options to receive benefit payments now can choose from PayPal, Venmo, “direct to card,” and Direct Deposit, often with funds available within 30 minutes.
“Faster delivery of wage replacement benefits will help to avoid the costs associated with unnecessary disputes while also eliminating a source of frustration for injured workers, allowing them to more easily focus on their recovery and return to work efforts,” MEMIC Senior Vice President of Claims Matt Harmon said.
For medical and other partners who treat injured workers insured by MEMIC, ClaimsPay® allows them to review previous payments, make changes to their payment method, view the status of pending payments, reconcile payments without the need to contact a claim representative, and more. Because ClaimsPay® is a well-utilized platform in the industry, many service providers are already set up in the ClaimsPay® system and thus can start seeing expedited payments almost instantly.
“We’re always on the lookout for ways to improve our service to injured workers to speed their recovery and cut the wait for income replacement or medical cost benefits to arrive,” Bourque said. “Our partnership with One Inc answers that call, with MEMIC payments that are faster, easier, and more secure than ever before.”
The MEMIC Group includes MEMIC Indemnity Company, MEMIC Casualty Company, and parent company Maine Employers’ Mutual Insurance Company; all rated “A” (Excellent) by A.M. Best. The MEMIC Group holds licenses to write workers’ compensation across the entire country. The group insures and serves more than 20,000 employers and their estimated 300,000 employees with dedicated safety and injury management service teams from Maine to Florida.