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- Supported assets: USDT, SOL, TRX, XRP, DOGE, LTC, PEPE, SHIB, TRUMP. (Additional assets on request.)
- Collect premiums, renewals, and endorsements in crypto while your finance team receives fiat settlement (USD, EUR, AUD, GBP).
- Tag every payment with policy number, claim number, broker code, endorsement ID, and more for rapid month‑end matching.
- Offer installment plans, deposits, and partial payments through invoicing and hosted checkout.
- Optional payout rails (subject to compliance) for suppliers or claimants with clear logs.
- Supported assets: USDT, SOL, TRX, XRP, DOGE, LTC, PEPE, SHIB, TRUMP.
Why insurers and MGAs should care
International clients, brokers, and service providers often face wire delays, card limits, and bank holidays. Crypto acceptance helps you confirm premium receipts faster, reduce payment failure rates, and keep bind/renewal timelines on track. With auto‑conversion to fiat and detailed statements, finance keeps control over reporting and compliance.
What WCT Pay enables
Premium collections
- Invoice & Pay Links: Create invoices with policy metadata and due dates; share via email or broker portal.
- Hosted Checkout: Branded page with amount, asset options, and instructions; no engineering required.
- Auto‑convert to fiat: Receive funds in USD, EUR, AUD, or GBP to your nominated account.
- Installments & partials: Accept initial bind deposits and staged balances; each payment maps to the same policy.
Endorsements & fees
- Raise mid‑term endorsements or admin fees as separate invoices; each tagged with endorsement ID for clean audit trails.
Claims‑side disbursements (optional)
- Outbound payouts to suppliers or approved claimants via payouts/treasury APIs or the OTC desk, with address allow‑listing and references (claim number, adjuster ID).
- Availability varies by jurisdiction and counterparty; screened per policy.
Reconciliation & reporting
- Audit‑friendly logs with timestamps, asset, FX, fees, and settlement amount.
- CSV/Excel exports and webhooks/API to sync with your ERP or policy admin system.
- Statement views grouped by broker, line of business, or policy.
Recommended data model (for fast month‑end)
- Policy references: policy number, term, product, endorsement ID
- Claims references: claim number, adjuster, loss date
- Commercial tags: broker code, account ID, region, cost center, GL code
- Payment info: asset, network, FX rate, fees, settlement currency, timestamps
Example workflows
Premium payment (new business/renewal)
- Underwriting issues invoice with policy number and broker code.
- Insured pays in a supported asset.
- WCT Pay auto‑converts and settles fiat to the insurer’s bank.
- Policy status flips to Paid; statement line appears for finance; broker sees confirmation.
Endorsement fee
- Ops creates a one‑off invoice with endorsement ID.
- Payment posts; ledger lines map to the same policy; month‑end is a simple match.
Supplier/claimant payout (optional)
- Claims approves disbursement; payout is initiated with claim number reference.
- Address allow‑listing and screening occur.
- Transaction logs and acknowledgements are stored for audit.
Compliance & controls
- KYC/AML: Merchant onboarding and ongoing monitoring included.
- Region/asset controls: Configure allow‑lists by territory or product line.
- Permissions: Role‑based access for underwriting, claims, and finance.
- Records for audit: Downloadable statements with immutable references.
Note: Features and availability may vary by jurisdiction and counterparties.
Implementation options
- Start now: Use Pay Links and Hosted Checkout; add installments and reminders.
- Integrate later: Use APIs and webhooks to push status updates and ledger entries to your policy admin or ERP.
- High‑value deals: Use the OTC desk for large premiums or reinsurance flows.
FAQs
Do we hold crypto on the balance sheet?
Not required. You can configure auto‑conversion so funds arrive in fiat.
How fast is settlement?
Depends on the asset/network and banking windows. ETAs are shown in the dashboard.
Can we restrict which assets we accept?
Yes. Choose the assets and regions that align with your compliance policy.
Can we map payments to brokers or MGAs?
Yes. Add broker codes and account IDs to every invoice and export.
Ready to try it?
Open a payment option that moves at the speed of your customers while keeping your records tidy.
