InsurTech is a shining example of how technology has positively disrupted an industry. The market is large and growing fast. It was valued at over US$ 15 billion in 2024, with long-term valuation expected to surpass US$ 96 billion (26.0% growth) by 2032.

But amid all its innovation, one vital area is often overlooked – and it could be the most important from a customer point of view.

The more efficiently that funds are disbursed, the happier the customer.

As well as these challenges to customer satisfaction, insurers are also experiencing new regulatory and compliance pressures, making flexibility and transparency in disbursement tools vital.

For B4B Payments, that’s where the real transformation begins.

Stumbling at the crucial moment

Poor customer service and laborious, manual processes have been swept away by new technology and more dynamic and responsive services. 

However, there is a lack of cost-effective, efficient disbursement tools that align with the digital transformation goals of many insurers. 

A surprising number of insurers, even some of the largest players in the market, are still using manual processing centres that delay customer payouts.

It’s the final step in the process where the customer receives the funds from their claim. It’s the moment when the Insurance company eases their customers’ pain, and it could be part of a stressful or upsetting series of events for the consumer. 

From pain claim to satisfied customers

Traditional insurance processes are slow because they’re complicated. A typical claim involves several steps: reporting the incident, submitting documentation, reviewing the case, validating the claim, and finally issuing payment, often via bank transfer or cheque. 

That important step could happen days or even weeks later.

InsureTech companies are challenging this model with smarter, faster workflows. In the past, processing an insurance claim could take weeks. But now, with technology—and especially AI—that same process can be reduced to minutes.

What good looks like

The industry is striving to make the customer experience as stress-free as possible, for example:

• Pet Insurance: A customer takes their cat to the vet for X-rays. Instead of waiting days to be reimbursed, their insurer reviews the claim automatically and, within minutes, issues a virtual payment card via SMS. The customer leaves the clinic with their pet treated, and the bill is paid.
• Roadside Assistance: A motorist breaks down and calls their insurer. Using a virtual card solution, the insurer can instantly fund the necessary roadside repair, eliminating the need for the driver to pay upfront.

These aren’t just operational improvements—they’re meaningful moments that build loyalty and trust.

The battle for customer experience 

As InsurTech grows, customer expectations will also continue to rise. More than ever before, people expect fast, transparent communication, as well as immediate results. 

Currently, payments can be an afterthought. But they can increasingly become a differentiator for insurers – a way of earning a great reputation among customers that sets them apart from competitors, 

Instant payments don’t just improve customer satisfaction—they also:

• Reduce admin and operational costs
• Minimise delays and disputes
• Allow insurers to offer more competitive pricing, due to efficiency gains
• Drive “stickiness” in the form of long-term customer loyalty

There is particularly strong potential in niche or fast-growing segments, such as pet insurance and roadside recovery, where speed of payment is critical.

Why smart payments matter

B4B Payments plays a key role in enabling this shift. Their turnkey solution allows insurers to issue branded or unbranded physical and virtual Mastercard cards that can be loaded in real-time.

Here’s how it works:

• The insurer has access to a secure float account, pre-funded and connected to their business account
• When a claim is approved, the system instantly issues and loads a card, which can be sent by email or text message
• The customer activates the card via a mobile app and can use it immediately—online, in-store, or via Google/Apple Pay

B4B handles the funds of insurers via safeguarded accounts under its EMI (Electronic Money Institute) license, which is critical in highly regulated industries like insurance.

And because these cards can be restricted by merchant category or spending limits, insurers maintain complete control over how and where the funds are used.

Built for startups and giants

Whether the insurer is a legacy provider or a fast-growing InsurTech challenger, B4B’s model fits. It is:

• Fully compliant and regulated in the UK and EU
• API-integrated for seamless platform adoption
• Fast to deploy, with white-label options available
• Built with minimal third-party reliance (B4B is its issuer)

There is also the brand benefit, which can be especially valuable to start-ups looking to keep their name top of mind for customers. Payouts are issued via B4B’s virtual card platform, which can be white-labelled and integrated directly into your workflows.

The AI + FinTech advantage

Artificial intelligence has transformed how claims are processed. But once a claim is approved, the payment still needs to be made quickly, securely, and with a strong customer experience.

B4B’s technology plugs perfectly into AI-powered insurance platforms, creating a combined solution for ultra-fast claims approval and payout.

By combining the speed of AI with the B4B’s instant payout capability, InsurTech companies can close the loop: fast decision-making followed by fast settlement. Clients can process claims fast, and then pay them out just as quickly using B4B’s technology.

Insurance reimagined by FinTech

From emergency payouts to everyday claims, how quickly and seamlessly funds are delivered can define the customer’s experience and the insurer’s reputation.

InsurTech companies that adopt smart, real-time payment solutions don’t just win in operational efficiency—they win customer loyalty, market share, and long-term growth.

With B4B Payments, insurers of all sizes can access tools that enable them to keep promises to customers, build stronger relationships, and act fast when customers need them most.