SnapRefund provides a cloud‑native payments platform that automates claim disbursements and agency billing for insurers, TPAs, MGAs and brokers. The solution layers on existing policy and claims systems, offering configurable multi‑party approval workflows, ACH/instant payouts, e‑signature invoicing and real‑time transaction tracking through a dashboard and RESTful APIs. Built‑in PCI‑DSS and SOC 2 compliance ensures secure handling of financial data.
Funding
Funding not disclosed
Founders
Product
Problem
Carriers, TPAs, MGAs, and insurance agents still rely on paper checks, manual data entry, and fragmented billing systems to process claim payouts and premium collections, which creates delays, high labor costs, and error‑prone reconciliations.
Solution
SnapRefund delivers a unified, cloud‑native payments platform that automates both claim disbursements (ClaimsSnap) and agency billing/premium remittance (AgentSnap) without requiring any changes to existing core insurance systems. The solution orchestrates multi‑party approvals, mortgagee authorizations, and direct bank transfers—including ACH, instant payouts, and check‑mailing—through a single dashboard and RESTful APIs. Real‑time status tracking and automated notifications keep all parties informed, while built‑in PCI‑DSS and SOC 2 compliance safeguards sensitive financial data. Integrated e‑signature capture and document management streamline policy binding and invoicing workflows. By layering on top of legacy systems, SnapRefund reduces operational overhead, accelerates cash flow, and improves the end‑customer experience.
Target Audience
Primary customers are insurance carriers, third‑party administrators, managing general agents, and independent insurance agents or brokerages that need to automate claim payouts and premium billing.
Features
- ClaimsSnap workflow engine with configurable multi‑party approval routes and mortgagee integration
- Direct bank disbursements via ACH, instant payouts, and optional check issuance, powered by Plaid connectivity
- AgentSnap invoicing module with customizable templates, secure payment links, and electronic signature capture
- Automatic premium collection and auto‑remittance to carriers, supporting commission splits and premium finance options
- Full API/SDK suite for seamless integration with existing policy administration and claims management systems
- PCI‑DSS, SOC 2 Type II compliance, end‑to‑end encryption, tokenization, and role‑based access controls
- Real‑time transaction status dashboard with audit trail and configurable alerts for failed or pending payments
- IAM & team management features for granular permissioning across carriers, MGAs, TPAs, and agency users