PITTSBURGH, Pa. – PNC Bank has expanded its Treasury Management insurance payments offering to support property and casualty insurance payments.
The offering builds on PNC’s existing Claim Payments & Remittances platform, which has supported health care-related insurance payments since 2018. Through a continued collaboration with ECHO Health Inc., PNC is extending those capabilities to meet the needs of property and casualty insurers.
“Insurance payments don’t follow a one-size-fits-all model, especially in property and casualty claims,” said Tom Lang, head of Treasury Management Product Operations at PNC Bank. “By combining ECHO’s best-in-class claims technology with PNC’s payment rails, we’re providing insurers a more efficient way to deliver payments and remittance details to every party involved in a claim – from policyholders to body shops and contractors.”
PNC’s expanded CPR solution enables insurers to:
- Deliver payments to both businesses and individuals.
- Support multiple electronic payment methods, including instant payment options.
- Provide remittance details in formats tailored to each recipient’s needs.
- Manage payments for both medical and nonmedical claims through a single platform.
“ECHO has long helped insurers simplify claims payments, and our work with PNC extends that value even further,” said Tom Davis, chief strategy officer for ECHO Health. “Together, we’re enabling insurers to deliver faster, more transparent payments while maintaining the control and reliability they expect from a leading financial institution.”
PNC’s property and casualty insurance payments solution is designed for large national and regional insurers, including those managing high-claim volumes and complex vendor networks.