Checkmate Lockbox and Reconciliation for Insurance Check Payments
CheckMate is a specialized lockbox and reconciliation service designed for the insurance industry that streamlines check and online insurance payments by securely collecting, batching, scanning, and uploading check details daily to a unified dashboard with integrated invoice matching and accounting reconciliation, all offered at a simple flat-rate fee per check and supported by a dedicated US-based team.
CheckMate
Check Payments Have Never Been Easier
Consolidate check and online insurance payments in one dashboard, with daily batching and reconciliation, so you never have to touch a paper check again.
- No more check handling – From lockbox to your dashboard, without ever touching a check
- Integrated – Reconcile payment data back to your accounting systems, eliminating manual work
- Simple pricing – No more complicated lockbox fees. Just a simple flat rate fee per check
Features: Checkmate
Some of Your Clients Still Prefer Checks. We Can Handle That for You
CheckMate makes taking check payments as easy as online payments.
Secure Check Handling
Get paper checks out of your office, with rapid routing to multi-site nationwide processing locations. Checks are batched, scanned and uploaded to your dashboard every day.
- Daily check collection and batching
- Check details in your dashboard
Neatly Sorted, No Paper Cuts
Once scanned, all check details and images are posted to your dashboard for easy viewing and reconciliation.
- View check images and remittance
- No more check sorting, scanning and filing paperwork
Magic Invoice Matching
Integrated customers can use CheckMate’s integrations to go even further by matching and reconciling check payments with open invoices in your accounting software.
- Smart scanning to sort and recognize open invoices
- Eliminate double work and manual data entry
- Pre-built and Custom API integrations available
Simple Pricing, With Insurance Expert Support
Unlike traditional lockbox services, CheckMate is built just for insurance companies that want one hub for all their payments, with a low, flat-rate fee per check. And CheckMate is backed by the same top-rated, US-based support team our customers trust for all their payments.
CheckMate FAQs
Who is CheckMate for?
CheckMate was built for the insurance industry, so – agencies, carriers, PFCs, MGAs or brokers accepting check payments.
What documents are available with each deposit?
Each deposit includes a Batch Summary Report, scanned check images and related invoices.
What does it cost?
Depending on your check volume, there may be a monthly minimum fee. Your account manager can provide pricing for your account.
What if I already have a lockbox?
Our flat, per-check pricing means we can typically offer more competitive pricing than most lockbox providers charge, with the added benefit of using your existing ePayPolicy dashboard.
The Automated Lockbox and Check Reconciliation Service, Built Just for Insurance
Digital payment adoption is growing, but check payments persist, especially with larger customers. We created CheckMate based on direct feedback from our customers to help consolidate all your payments under one platform.
Why not leave the paper checks to us?
Save More Time
Daily collection and processing so you get paid faster, consistently.
Consolidate Payments
All your online and check payments in one centralized dashboard.
Reconcile Faster
Integrate with your accounting system to reconcile payments faster.
Related
MGA is First to Launch Automated Check Reconciliation with CheckMate
Bailey Specialty Risks, Inc. (BSR), a wholesale insurance MGA, became the first client to fully implement ePayPolicy's CheckMate, an automated, machine learning-powered check acceptance and reconciliation solution, enabling all their accounts receivable payments—including checks, credit cards, and ACH—to be processed digitally with automatic integration into their account management system, thereby simplifying payment processes for their agents and operations staff.
Introducing: CheckMate - ePayPolicy
ePayPolicy has introduced CheckMate, a new solution designed to streamline and automate the processing, routing, and reconciliation of paper check payments for insurance companies, addressing the persistent reliance on checks by enabling daily batch processing integrated with popular accounting systems to reduce manual work and eliminate the inefficiencies of traditional check handling.
Demo + Starbucks Gift Card
ePayPolicy offers a secure, branded online payment platform with mobile-friendly credit card and ACH options, integrated AMS, real-time dashboard visibility, automated check processing via CheckMate, and simplified premium financing through Finance Connect, all designed to streamline insurance payments and improve client conversion, with users praising its ease and efficiency, plus a $15 Starbucks gift card incentive for a 15-minute demo.
Insurance Check Fraud: Adapting to Rising Risks
In 2024, despite a dramatic rise in check fraud—tripling suspicious activity reports from 2018 to 2022—and insurance companies relying on checks for 55% of payments (more than double the average for other industries), the insurance sector remains slow to adopt more secure payment methods, exposing both payers and businesses to significant risks amid growing warnings from authorities and media about rampant check theft and fraud.
CheckMate Changes Checks for BSR - ePayPolicy
ePayPolicy's integration of CheckMate with BSR's Vertafore AIM system automates and accelerates the processing and reconciliation of paper check payments, reducing deposit times by 1-2 days and batch processing times from minutes per check to minutes per batch, addressing the insurance industry's persistent reliance on slow, manual check payments despite widespread digital payment adoption.
How To: Evaluate Insurance Premium Payment Options -
The guide emphasizes that insurance carriers, MGAs, and agencies should evaluate premium payment options beyond just the checkout experience by prioritizing insurance-specific solutions that integrate with management systems to streamline back-office workflows, maintain data integrity with policy-specific details, and offer fee flexibility to optimize margins, contrasting these with generic payment processors that often lack such tailored features and create operational inefficiencies.