GoCardless partners with InsuredHQ to provide faster payments for insurance companies

Melbourne, Auckland, 6 November, 2024 -- GoCardless, the bank payment company, has announced a partnership with InsuredHQ, a global provider of cloud-based core insurance administration software. The collaboration will allow insurance companies across the Asia Pacific (APAC) region to make faster and more efficient payments. 

Headquartered in New Zealand, InsuredHQ’s team supports its customer base of worldwide insurance providers by offering an ‘insurance in a box’ software platform. Its software can manage complex insurance products, high user volumes, and industry-specific reporting, along with a variety of other tools that simplify the management of the entire insurance lifecycle. 

The integration with GoCardless will allow insurers to schedule regular and one-off payments for their customers using Direct Debit and PayTo, significantly reducing payment failures and improving operational efficiency through automation.

Luke Fossett, GM of GoCardless ANZ, said, “This partnership combines our robust and easy-to-use payment capabilities with InsuredHQ’s versatile platform. This means we can offer a more flexible and streamlined payment solution for the insurance industry, an option that goes beyond what was available before. This integration will make it significantly easier for insurers to collect their payments. 

“This partnership marks a major step forward in our push to expand further into the insurance sector. We’re seeing incredible tech talent and entrepreneurship in New Zealand, and teaming up with businesses such as InsuredHQ is a great way to tap into that. By leveraging this momentum, we’re driving innovation and making payment processes within the sector simpler — ultimately helping these exciting businesses to scale.”

Jon Davies, CEO of InsuredHQ, said: “It’s pretty rare for an insurance company to have the tech to handle core processes smoothly right from the start. But for us, it’s all about improving the customer experience, boosting efficiency, and automating key tasks. Tackling digital latency and innovating in insurance payments can really make a difference,”

“Our goal is not just to make payments simple for our customers but also to provide them with the tools to be at the forefront of payment technology. Teaming up with a leader in payment innovation like GoCardless just makes sense.”

The global insurance industry is expected to grow at a rate of 5.5% over the next decade, and by using GoCardless payment solutions, InsuredHQ can easily scale to meet its global ambitions. GoCardless integrates smoothly with existing systems, offering a better customer experience that caters to payer preferences and boosts InsuredHQ’s competitiveness in the market.

This strategic partnership marks GoCardless’s continued expansion into the insurance sector, following its earlier integration with ICE InsureTech this year. 

Notes to Editors

For more information, contact:

press@gocardless.com 

About GoCardless

GoCardless is a global bank payment company. Nearly 100,000 businesses, from start-ups to household names, use GoCardless to collect and send payments through direct debit, real-time payments and open banking.

GoCardless processes US$130bn+ of payments annually across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees. We use data and insights to improve payment success, reduce fraud and, with open banking connectivity to over 2,500 banks, help our customers make faster, more informed decisions.

We are headquartered in the UK, with additional offices in Australia, France, Ireland, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on LinkedIn @GoCardless.

© 2024 GoCardless Ltd. All Rights Reserved. GoCardless is a registered trademark of GoCardless Ltd in multiple countries. Third party trademarks mentioned above are owned by their respective companies. Unless explicitly identified as such, nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of GoCardless Ltd. or any aspect of this press release.

About InsuredHQ

InsuredHQ is a leading provider of comprehensive, scalable insurance administration software and open APIs, serving general insurers, MGAs, and startups globally. Founded in 2014 and headquartered in Auckland, New Zealand, InsuredHQ’s platform supports the complete insurance lifecycle, from policy and claims management to advanced reporting and compliance. Our commitment to innovation helps insurers simplify operations, improve customer engagement, and scale their businesses efficiently. For more information, visit www.insuredhq.com.