Warranty Solutions Selects SEcureCard from StoneEagle to Streamline Claims Payment Process
SEcureCard Provides Immediate Payment Reconciliation, Enhances Customer Service and Eliminates Fraud
Dallas, TX (PRWEB) March 3, 2009 -- The StoneEagle Group (StoneEagle) announced today that Warranty Solutions, a leading provider of Vehicle Service Contracts and other automotive F&I after-market products, has selected SEcureCard to automate the claims management process for paying auto Dealers and repair facilities.
SEcureCard is the leading business-to-business payment solution that provides Vehicle Service Contract administrators with a real-time approach for handling claim payments. SEcureCard eliminates the manual reconciliation processes that normally take claims departments an average of five to seven days to resolve.
When a Dealer or repair facility (payee) requests approval for repairs covered under a Warranty Solutions Vehicle Service Contract, the Warranty Solutions claims department authorizes a unique "one-time" use SEcureCard number that is tied directly to each claim. The payee immediately receives a virtual authorization complete with the 16 digit card number, expiration date and security code. Once the payee completes the repair and submits the transaction into their respective point of sale terminal, SEcureCard immediately reconciles the information to the approved claim and the payment is automatically processed through the Warranty Solutions' claims administration system. This process replaces Warranty Solutions' need to issue checks or traditional corporate credit cards when paying claims.
"The benefits that SEcureCard has created for Warranty Solutions and our Customers are numerous. Most notably customers no longer have to call to receive credit card information saving them time and speeding up payment." said Jon Wilmot, VP of Operations for Warranty Solutions. "Our claims management has always been superior in the industry. This new partnership will help us stay ahead of the competition." added Orlando Zayas, President of Warranty Solutions.
"SEcureCard eliminates overcharges and fraudulent activity associated with paying claims," said Bobby Allen, CEO of StoneEagle. "By implementing this program, Warranty Solutions has substantially reduced processing costs involved with payment issues and the time and labor associated with reconciling transactions. Warranty Solutions is among other leading service contract administrators who have been able to accelerate service to their client base and simplify their entire claims payment process with SEcureCard."
About The StoneEagle Group
StoneEagle delivers software solutions and enterprise administration systems to Insurance Carriers, Third Party Administrators, and Aftermarket Product Providers. StoneEagle leverages the latest technology to create safe and secure connection points between these providers and their client base, which are predominately Automotive Dealers and Financial Institutions. StoneEagle has been providing specialized software applications specific to the financial services industry since 1967. For additional information please visit http://www.stoneeagle.com.
About Wachovia Dealer Services
Wachovia Dealer Services is the fifth-largest auto finance company in the nation. With regional offices serving 47 states nationwide, we offer an integrated dealer services solution designed to help dealers sell more vehicles, more profitably. We provide a broad credit spectrum of lending to the auto industry, commercial, real estate and floorplan financing, and an array of banking services through Wachovia Bank. N.A. Through Wachovia's purchase of GE Money - Warranty Services, we now offer F&I after-market products and services under the name Warranty Solutions. We also provide competitive refinancing programs directly to consumers. Wachovia Dealer Services is now a Wells Fargo company.
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