Insurance

Smarter data for faster, simpler coverage

Plaid powers an effortless policyholder experience, from quote to claim.

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Dashboard showing a verified policyholder profile and automated insurance claim payout, illustrating how Plaid’s open-banking APIs streamline claims processing, payment verification, and faster disbursements for insurers.

  • Spot risks earlier

    Verify identity and account ownership to help spot suspicious activity and cut claims fraud at first notice of loss.

  • Simplify payments

    Reduce failed premiums and speed up claim payouts when customers need them most.

  • Speed up underwriting

    Real-time income and cash flow insights help insurers gauge risk and price coverage faster.

Catch fraud from onboarding to claims

Plaid powers digital transformation with insights that help flag suspicious activity early and reduce fraud risk across your flow.

  • Confirm identity information against regulated data sources in seconds

  • Catch fraud early by confirming identity and account ownership at first notice of loss

  • Use network and device intelligence to surface hidden fraud patterns

  • Secure every channel by adding verification to self-service flows or secure links for call-center checks

Catch fraud from onboarding to claims

Plaid powers digital transformation with insights that help flag suspicious activity early and reduce fraud risk across your flow.

  • Confirm identity information against regulated data sources in seconds

  • Catch fraud early by confirming identity and account ownership at first notice of loss

  • Use network and device intelligence to surface hidden fraud patterns

  • Secure every channel by adding verification to self-service flows or secure links for call-center checks

“We’re building life insurance that actually fits people’s lives. Plaid makes that possible by taking one of the most frustrating parts of the process—payments—and making it invisible. “
Edwin Endlich
Chief Marketing Officer, Wysh

Mobile flow showing a premium-collection screen where HomeSure uses Plaid to verify bank accounts instantly, illustrating real-time account authentication that reduces ACH returns and streamlines premium payments for insurers.

Smarter payments.
Happier policyholders.

Insurers can confirm account details in real time to reduce ACH returns. Digital payouts simplify processes and reduce reliance on paper checks.

  • Verify accounts instantly

    Move beyond static database checks. Cut ACH returns by up to 80% to keep more policies in force

    Mobile flow showing a premium-collection screen where HomeSure uses Plaid to verify bank accounts instantly, illustrating real-time account authentication that reduces ACH returns and streamlines premium payments for insurers.

  • Avoid coverage lapses and save an average of 40% using lower-cost bank rails for recurring payments

    Auto insurance claims dashboard showing a verified customer profile, approved accident claim, and claim payment sent to a linked bank account in a streamlined digital payout interface.

  • With faster payouts over ACH, RTP, or FedNow, you deliver when it matters most

    Auto insurance claims interface showing a verified customer profile, verified accident claim, and real-time payment (RTP) reimbursement details sent directly to a linked bank account.

  • Plug-in solutions integrate with existing processors and TPAs to move payments faster and keep workflows connected

    Insurance platform integration diagram showing seamless connections between distribution management, underwriting, billing and claims, and reinsurance, unified through a central payments and data network.

  • 10 seconds

    to unlock cash flow data

  • 25% boost

    in onboarding conversion

  • 72%

    of consumers feel safer with ID verification

Faster underwriting, expanded coverage, more approvals

Plaid gives life and P&C insurers real-time income, cash flow, and asset data to support more informed pricing and expand access.

  • Get real time income views from bank and payroll data to avoid NIGO delays.

  • Accelerate onboarding with real time data, replacing manual reviews.

  • Understand the full financial picture with income stability and cash flow insights.

  • Move faster, price smarter, and approve more applicants.

Faster underwriting, expanded coverage, more approvals

Plaid gives life and P&C insurers real-time income, cash flow, and asset data to support more informed pricing and expand access.

  • Get real time income views from bank and payroll data to avoid NIGO delays.

  • Accelerate onboarding with real time data, replacing manual reviews.

  • Understand the full financial picture with income stability and cash flow insights.

  • Move faster, price smarter, and approve more applicants.

Digital transformation built on trust

  • Enterprise-grade security

    Plaid meets SOC 2 Type II, ISO 27001, and PCI DSS standards and uses end-to-end encryption and continuous monitoring to help keep sensitive data protected at scale.

  • A network millions trust

    1 in 2 Americans with a bank account have connected through Plaid, giving insurers a secure, proven way to connect with customers.

  • Permissioned and transparent
    by design

    Policyholders choose what they share with Plaid, giving them clear visibility and control over their data.

Helping insurers of all kinds

Property & Casualty (P&C)

Real-time financial insights reduce fraud, streamline payments, and improve underwriting and claims.

Life & Benefits

Use income, identity, and bank data to reduce NIGO, support underwriting, and reach customers with limited credit history.

Third-Party Administrators (TPAs)

Support faster, more accurate premium collection and claims disbursement across multiple carriers.

Retail & Wholesale Distributors

Streamline submissions, payments, and renewals with bank connections and insights that simplify workflows from quote to bind.

Managing General Agencies (MGAs)

Speed up bind and improve submissions with connected financial data that reduces NIGO and supports smooth premium payments.

Insurtechs

Build differentiated insurance products with Plaid’s easy-to-integrate APIs and tools that power faster, simpler customer flows.

Power every policy with Plaid

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Your questions, answered

Reach out if we didn’t answer yours.

What is digital transformation in the insurance industry?

Digital transformation in insurance replaces manual, paper-heavy workflows with automated, data-driven experiences across underwriting, billing, and claims. Real-time payments, identity verification, and AI-enabled decisioning help insurers work more efficiently and serve policyholders faster.

How do insurers prevent and detect fraud in a digital environment?

Insurers use modern fraud prevention tools like real-time identity checks, account owner verification, and behavioral signals to stop fraud at onboarding, billing, and claims. Verified financial data and AI-ready signals help prevent synthetic identities, payment fraud, and misdirected claims.

How are insurance companies automating claims payments?

Insurers are modernizing payments by replacing checks and manual processes with digital platforms that verify accounts and move money securely in real time. Automated claims speed relief and reduce fraud, while automated premium collection lowers ACH returns and improves policyholder experience.

How is automation changing insurance underwriting?

Automation is transforming underwriting by replacing PDFs and self-reported financials with verified data and AI-driven insights. Insurers instantly validate income, assets, and risk—speeding decisions, reducing NIGO, and creating a more consistent, transparent experience for applicants.