Dream Payments Unveils Digital Solution to Help Insurers Deliver Critical Claims Payments to Canadians During Canada Post Strike
Dream Payments introduces the DreamPay Claims Portal, a no-code platform that enables insurers of all sizes to rapidly shift from mailing claims cheques to secure digital payments and express courier options. This innovative solution ensures claimants and businesses receive much-needed funds quickly during the Canada Post strike, offering immediate relief for urgent expenses while helping insurers clear payment backlogs once the strike ends.
TORONTO, Nov. 26, 2024 /CNW/ - Dream Payments, an API and Embedded Payments platform that operates a digital payment network for financial institutions, insurers, and software platforms in Canada and the USA, has announced the launch of its DreamPay Claims Portal. This new solution empowers insurers to transition from traditional cheque-based claims payments to digital and courier-based options within days, enabling them to overcome delays caused by Canada's ongoing postal strike.
Now entering its 12th day, the postal strike has left critical claims payments undelivered, creating significant financial distress for claimants and service providers alike. During the last postal disruption in Canada, which lasted over 35 days, the backlog of delayed payments took months to fully resolve. Recognizing the urgency of the situation, Dream Payments developed the DreamPay Claims Portal to ensure payments reach Canadians who need them most, particularly as the holiday season approaches.
Addressing Urgent Needs During the Crisis
The postal strike has disrupted the delivery of claims payments nationwide, leaving policyholders unable to access funds for urgent expenses such as medical treatments, home repairs, and essential property replacements. Service providers, including healthcare clinics and contractors, are also struggling with cash flow issues due to delayed payments.
The DreamPay Claims Portal offers insurers a seamless, no-code platform that enables them to rapidly transition from cheques delayed by the strike to secure digital and express courier options. This bypasses postal delays and reduces the financial burden on claimants and service providers. Unlike traditional systems that require extensive integrations, the portal is designed for rapid deployment, eliminating barriers to adoption and ensuring payments are delivered quickly and securely.
Delivering Relief During a National Crisis
The DreamPay Claims Portal provides insurers with the tools to:
- Deliver Fast, Digital Payments:
Policyholders and service providers can receive payments instantly via EFT bank transfers or virtual cards, eliminating the impact of postal delays. - Interac e-Transfers Coming in December:
Dream Payments has been developing Interac e-Transfer claims payment delivery through the DreamPay Claims Portal. This feature offers enhanced flexibility, allowing claimants to receive payments directly into their bank accounts in near real-time, simplifying the claims process and minimizing delays. - Deliver Bilingual Payments:
Dream Payments is proud to offer claims payments in both English and French. This ensures no Canadian is underserved, providing policyholders with communications and payments in their preferred language. - Ensure Secure Courier Options:
For claimants without access to digital payments, the portal integrates with pre-negotiated courier services to provide overnight, trackable delivery of cheques.
These capabilities not only alleviate immediate financial challenges for claimants and service providers but also set the stage for insurers to modernize their payment processes long after the strike is resolved.
"The DreamPay Claims Portal ensures insurers can meet the urgent needs of claimants and service providers while creating a foundation for future-ready, digital-first payment systems," said Brent Ho-Young, CEO of Dream Payments. "We're stepping up to ensure critical funds reach those who need them most—quickly, securely, and reliably."
"When people are waiting for life-changing support, delays are unacceptable," added Ho-Young. "With our solution, insurers can act immediately, ensuring financial assistance reaches Canadians when they need it most."
To learn more about how Dream Payments can assist your organization during and after the postal strike in Canada, please visit www.dreampayments.com or contact our team at [email protected]
About Dream Payments
Dream Payments is a leading API and Embedded Payments Platform, trusted by two of North America's top 10 financial institutions, leading insurance carriers, and software platforms like Guidewire and Insurity. Dream's platform provides end-to-end payments infrastructure—including APIs, payment orchestration, KYC, and AML compliance—designed to power seamless pay-in and pay-out digital payment services.
Whether streamlining claims payments or enabling embedded payment services to drive new revenue, Dream empowers organizations to build the future of payments in today's digital-first economy. For more information, visit www.dreampayments.com.
SOURCE Dream Payments
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