International insurance group BMI Companies has gone live with Acclaim’s payment infrastructure platform to automate claim payments to members and providers across its entire offshore international business.
The rollout began as a pilot with two agencies and has now expanded across the remainder of BMI’s international book of business.
Payments are now live to more than 35 countries across dozens of local payment methods and replacing SWIFT wire transfers.
The firms said the operation was fully automated end to end and integrated directly into BMI’s core systems with members and providers able to select from dozens of local payment methods.
Claim payouts are triggered automatically by activity in BMI’s core systems and validated before they go out to reduce failed payments.
There should also be less reconciliation work for providers, who receive one consolidated payment across multiple claims with full remittance detail attached.
Andrew Sierra, president of BMI Companies, said the firm had laid down payment infrastructure it could keep building on as it grows.
“For our clients, the claim payment is the moment of truth. It’s when the promise we made actually gets kept,“ Sierra said.
“Our transformation is about scaling the business while making that moment better, not just faster.”
Esteban Chinchilla, chief operating officer of BMI Companies, added: “We wanted a payments layer that fit directly into our core systems rather than another process bolted on the side.
“Acclaim integrated cleanly into how we already operate, automated work our teams used to do by hand, and gave us real-time visibility into every payment.
“It’s a meaningful step forward for both our efficiency and our agent’s, members’ and providers’ experience.”
Matt Teumer, president of Acclaim, said: “BMI Companies has built a rich, more than 50-year history in international insurance, and this partnership shows just how powerful Acclaim can be in the hands of an established, forward-looking carrier.
“Latin America is a strategically important market for us, and BMI is exactly the kind of client we’re built to serve.”