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Commerce Bank Joins Guidewire PartnerConnect Solution Alliance Ecosystem to Digitize Claims Payments
Commerce Bank’s electronic claims payment technology to help reduce check usage and increase digital claims payments and customer satisfaction KANSAS CITY,
About this update from Commerce Bancshares, Inc.
[{"type":"text","content":"\nCommerce Bank’s electronic claims payment technology to help reduce check usage and increase digital claims payments and customer satisfaction\n\n KANSAS CITY, Mo. & SAN MATEO, Calif.--(BUSINESS WIRE)--\nCommerce Bank, a wholly owned subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate and grow efficiently, today announced that Commerce Bank has joined Guidewire PartnerConnect as a Solution partner.\n\nCommerce Bank utilizes its deep knowledge of payments and banking connections to create and deliver customized banking, payment and financial solutions for the insurance industry. Commerce Bank’s Ready for Guidewire integration will enable Guidewire ClaimCenter users to integrate to CommercePayments™ PreferPay®, its solution that enables insurers to provide single- and multi-party electronic claims payments. CommercePaymentsTM solutions are provided by Commerce Bank.\n\n“Insurance customers have very high expectations of their insurers,” said Lenny Richileau, Vice President, Insurance Industry Consulting, Commerce Bank. “In our increasingly digital world, these expectations have come to include electronic payment options to make claims payments quick and simple for claimants. We are delighted to bring our shared insurance customers seamless access to our digital payment solution as a Guidewire partner, enabling them to increase customer satisfaction.”\n\n“We are thrilled to welcome Commerce Bank as our latest Guidewire PartnerConnect Solution partner,” said Becky Mattick, vice president, Global Solution Alliances, Guidewire Software. “PreferPay® helps to move traditional check payments to a digital format, giving claimants an array of convenient electronic payment options to get them their claims payment quickly. With digital payments through PreferPay®, the burden of issuing checks is alleviated and check fraud is reduced, leading to decreased risk and increased efficiency for insurers.”\n\nAbout Commerce Bank\n\nWith $32.9 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of prove...