PNC Bank expands Treasury Management to cover insurance claim payments
PNC Bank has widened its Treasury Management services to cover property and casualty insurance payments. The updated solution builds on the company’s existing platform, which has handled healthcare-related claims since 2018.
This move gives insurers a new option for managing payments, backed by a regulated financial institution. The expanded system is built on PNC’s Claim Payments & Remittances (CPR) platform. Originally launched in 2018, the platform processed healthcare insurance payments. Now, it supports property and casualty claims as well.
The solution handles both medical and non-medical claims through a single platform. It also delivers payments to businesses and individuals, offering multiple electronic payment methods and custom remittance formats.
PNC has partnered with ECHO Health, Inc. to enhance the CPR platform’s capabilities. The updated system is designed for large national and regional insurers, particularly those dealing with high claim volumes and complex vendor networks.
By providing an alternative backed by a regulated bank, PNC aims to give insurers greater flexibility and security in their payment processes. The expanded CPR solution now supports a broader range of insurance payments, from medical to property and casualty claims. Insurers can use the platform to streamline payments, reduce complexity, and choose from multiple electronic payment options. The collaboration with ECHO Health further extends the system’s functionality for large-scale insurers.
