TecAssured Expands Payment Capabilities
TecAssured, a configurable technology platform for the warranty, service contract and protection product industry, partnered with unified payments platform ConnexPay for a direct integration.
Live now and available as an add-on for current and future TecAssured clients, the integration gives third-party administrators, agencies and dealers access to expanded payment capabilities in the TecAssured environment.
The integration brings TecAssured’s administration and claims workflows together with ConnexPay’s payment technology, enabling merchant processing, virtual card payments, ACH electronic funds transfers and other payment and disbursement methods.
Clients can reduce manual processes, accelerate claims payments, simplify reconciliation and gain greater visibility and control over payment activity, TecAssured said. Eligible virtual card payments can also generate rebates paid directly to clients, creating an additional opportunity for profitability.
“Our partnership with ConnexPay gives our clients a smarter, more efficient way to manage payments within,” said TecAssured President and CEO Joseph Pesce. “It saves time, improves visibility and creates new opportunities for profitability while making the process easier for the people using it every day.”
“TecAssured has built a highly flexible technology ecosystem for clients administering increasingly complex protection products and programs,” said Ken Pullin, head of commercial sales for ConnexPay. “By bringing ConnexPay’s payment capabilities directly into that environment, we can reduce friction in the payment process, move funds faster and create more value for those clients. We’re excited about what this partnership delivers today and the opportunities to keep expanding it over time.”
The integration was first launched with ECP Inc., a provider of appearance protection products, detailing and service chemicals, supplies, product warranty administration, and optional protection programs for automobile dealers.
“Since adding ConnexPay to our TecAssured workflow, we’ve been able to reduce manual work, move claims payments faster, and get a clearer view of our payment activity,” said ECP Director of Regulatory Affairs Steven Krieser. “The combination of ConnexPay and TecAssured has made the process easier for our team and more efficient for our business.”
The ConnexPay partnership further expands TecAssured’s growing ecosystem of integrated technologies and services.
“Adding ConnexPay is another step toward giving our clients more flexibility, control and room to grow,” Pesce said. “Our goal is to make the technology behind their business work together more seamlessly, so they can keep moving forward free from legacy limitations.”