FAC: Online Payment Processing For Insurers

October 12, 2019 | 0 Comments

First Atlantic Commerce [FAC] and Core Technologies have announced their collaboration to enable Core Technologies UnderWriter™ insurance platform clients to accept online payments.

A spokesperson said, “First Atlantic Commerce [FAC], a global online payment solutions provider that specializes in the Caribbean and Central America, and Core Technologies today announced their collaboration and technical integration to enable Core Technologies UnderWriter™ insurance platform clients to accept online payments.

“FAC is a Bermuda-based, feature-rich payment gateway that delivers customized and flexible online credit and debit card processing to companies across the Caribbean and Central America. The company also provides the first and only PCI validated P2PE solution for companies in the Latin American Caribbean Region as well as risk mitigation solutions to its merchants, banks and other gateways.

“UnderWriter™ is the ultimate property and casualty insurance software package for insurers in the Caribbean. Developed in the Caribbean and used by 19 insurance companies and 3 insurance brokers, operating in 19 different Caribbean territories, the platform is renowned for its continuous development and feature rich modules.

“All insurance-related processes for underwriting, reinsurance, insurance accounting, and claims [including litigation management and salvage management] are available within the system, which utilizes a built-in document manager.

“UnderWriter™ has integrated to FAC’s payment gateway so that its customers can accept credit and debit card payments using FAC’s payment platform with settlement to local banks in the Caribbean.

“The first merchant to go live using the integrated system is Gulf Insurance Limited in Trinidad & Tobago.”

Gulf Insurance Limited’s managing director Jason Clarke said, “We at Gulf took the decision to use UnderWriter™ as our P&C software 4 years ago, and to date we are 100 percent pleased with the constant development, support and guidance in implementing new features that are made available to us on a monthly basis.

“When Core intimated that they needed a pilot company to go online, we were ready. Then came FAC with their exceptional knowledge and professionalism. FAC, working in combination with Core and our other teams, got this development completed in very short order. We have no hesitation in recommending either FAC or Core in their respective areas of competencies.”

Managing Director of Core Technologies, Calvert Asphall, said, “We are excited to have integrated with the Caribbean’s preferred gateway, and are pleased with the launch of our first pilot merchant. This will save other insurance companies time and resources in setting up their online payment acceptance component.”

Chris Burns, CEO of FAC, said, “We are very pleased to be working with the Core Technologies’ UnderWriter™ platform to provide their customers with quick payment processing access across the Caribbean. Our payment platform is the ideal choice for insurers that require a custom card payment experience for their clients in a secure environment.”

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