Axa launches new system for claims payments
Insurer says Faster Payments applies to liability, motor and property claims.
Axa has introduced a new system which will see cash payments hit accounts in minutes in order to reduce claims payment times.
The insurer said the system, called Faster Payments, applies when payments are to be made directly to the customer and has been introduced to liability, motor and property claims across personal and commercial lines.
According to Axa the system also applies to third-party payments.
Chris Voller, director of claims at Axa, said the new tool was having a direct impact on
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