Creditron Continues Momentum in Insurance Market

Donegal Insurance Group to Implement Image-Enabled Payments Processing Solution with Check 21 Capabilities

TORONTO, ON, December 03, 2009 – Creditron, a leading provider of payments processing and receivables management solutions, has been awarded a contract from Donegal Insurance Group to provide an image-enabled payments processing solution.  This is the second contract Creditron has won in the past month from an insurance company.

Based in Marietta, PA, Donegal Insurance Group consists of seven property and casualty insurance companies that provide full lines of personal, farm, and commercial insurance to various regions in the country through a network of independent insurance agencies.

Creditron will provide Donegal with ItemAge Express, the company’s image-based payments processing solution.  The solution will greatly enhance the insurer’s processing of premium payments, resulting in increased staff productivity and better operations efficiency.  The solution will include modules for courtesy and legal amount recognition (CAR/LAR) for personal and business checks, image and data storage and retrieval, and the ability to deposit funds electronically via Check 21.  The solution also will include hot files to automatically stop processing of flagged accounts, and the ability to seamlessly import electronic files. 

The Creditron payments solution will run on a 300e document transport from NCR.

“Creditron is committed to delivering highly reliable solutions that growth-minded insurers need to be successful,” stated Creditron CEO Wally Vogel.  “Our best-in-class payments solutions ensure scalability and manageability as insurers better position their operations to manage the changing payments mix, support their enterprise, and remain competitive.”

Timely and accurate processing of premium payments is critical, not only to maximize cash flow, but also for customer service.  For example, when a policy is in arrears or subject to cancellation for other reasons, insurers need to know if a check arrives.  Creditron’s hot file module notifies users as soon as the check is scanned, so they can take action.  The security and audit features of Creditron’s ItemAge Express ensure accurate account postings to eliminate mis-posted payments and avoid error correction and coverage issues.  The software’s CAR/LAR functionality enables insurers to process mixed current due and total due payments, partial payments, and multiple payments without sorting.  And insurers can research payments using image, in place of costly and clumsy paper or microfilm archives.

Creditron’s expertise in the insurance industry spans more than 12 years and encompasses 38 payments processing installations at sites with a wide range of daily volumes.  Creditron’s insurance customers include Cumberland Insurance, Agricultural Workers Mutual Auto Insurance, Mercury Insurance, Unitrin, SunLife, AXA Insurance, and Dominion of Canada.

About Creditron

Creditron is a leading provider of payment processing, distributed capture, receivables management and electronic billing and payment solutions.  Its solutions combine industry standard operating systems and advanced imaging, scanning and data recognition technology to help financial institutions, businesses and other entities optimize operations performance and improve customer service.  The company’s over 360 North American customers process more than 400 million transactions annually, representing over $100 billion.  For more information, visit www.creditron.com.

Creditron is a registered trademark of Creditron Canada, Inc.

Contact:  
Doug Myers,
Creditron
614-750-4331
dmyers@creditron.com