Dream Payments introduces the DreamPay Claims Portal, a no-code platform that enables insurers of all sizes to rapidly shift from mailing claims cheques to secure digital payments and express courier options. This innovative solution ensures claimants and businesses receive much-needed funds quickly during the Canada Post strike, offering immediate relief for urgent expenses while helping insurers clear payment backlogs once the strike ends.
November 26, 2024 – Toronto, ON – Dream Payments, an API and Embedded Payments platform that operates a digital payment network for financial institutions, insurers, and software platforms in Canada and the USA, has announced the launch of its DreamPay Claims Portal. This new solution empowers insurers to transition from traditional cheque-based claims payments to digital and courier-based options within days, enabling them to overcome the challenges caused by the ongoing Canada Post strike.
Now entering its 12th day, the postal strike has left critical claims payments undelivered, creating significant financial distress for claimants and service providers alike. During the last postal strike, which lasted over 35 days, the backlog of delayed payments took months to resolve. Recognizing the urgency of the situation, Dream Payments has launched the DreamPay Claims Portal to ensure that payments reach Canadians who need them most, especially as the holiday season approaches.
Addressing Urgent Needs During the Crisis
The postal strike has disrupted the delivery of claims payments nationwide, leaving policyholders unable to access funds for urgent expenses such as medical treatments, home repairs, and essential property replacements. Service providers, including healthcare clinics and contractors, are also struggling with cash flow issues due to delayed payments.
The DreamPay Claims Portal offers insurers a seamless, no-code platform that enables them to rapidly transition from mailed-cheque based claims payments to digital and express courier options, bypassing postal delays and reducing the financial burden on claimants and service providers. Unlike traditional systems that require extensive integrations, the portal is designed for rapid setup, eliminating barriers to adoption and ensuring payments are delivered quickly and securely.
Delivering Relief During a National Crisis
The DreamPay Claims Portal provides insurers with the tools to:
Deliver Fast, Digital Payments:
Policyholders and service providers can receive payments instantly via EFT bank transfers or virtual cards, bypassing postal delays entirely.
Interac e-Transfers Coming in December:
Dream Payments has been in the lab developing DreamPay Interac e-Transfer Claims Payments as an additional payment method. This feature will offer enhanced flexibility, allowing claimants to receive payments directly into their bank accounts in near real-time, further simplifying the claims process and reducing delays.
Deliver Bilingual Payments:
Dream Payments is proud to offer the first no-code digital claims platform and payment network in North America delivering payments in both English and French. This ensures no Canadian is underserved, providing policyholders with communications and payment experiences in their preferred language.
Ensure Secure Courier Options:
For claimants without access to digital payments, the portal integrates with pre-negotiated courier services to provide fast, overnight, trackable delivery of cheques.
These capabilities alleviate immediate financial challenges for claimants and service providers and also set the stage for insurers to modernize their payment processes long after the Canada Post strike is resolved.
“The DreamPay Claims Portal is designed to help insurers meet the urgent needs of claimants and service providers while creating a foundation for future-ready, digital-first payment systems,” said Brent Ho-Young, CEO of Dream Payments. “We’re stepping up to ensure payments get to those who need them most—quickly, securely, and reliably.”
Why Now?
The ongoing postal strike has delayed insurance claims payments, causing significant hardship for families and businesses across Canada. With the holiday season fast approaching, every dollar matters. Dream Payments has acted to address this crisis by offering the DreamPay Claims Portal so that insurers can fulfill their commitments to policyholders and vendors.
“When people are waiting for life-changing payments, delays are unacceptable,” added Ho-Young. “With our solution, insurers can act immediately, ensuring financial support reaches Canadians when they need it most.”
About Us
Dream Payments is a leading API and Embedded Payments Platform, trusted by two of North America’s top 10 financial institutions, leading insurance carriers, and software platforms like Guidewire and Insurity. Dream’s platform provides end-to-end payments infrastructure—including APIs, real-time payment orchestration, KYC, and AML compliance—designed to power seamless pay-in and pay-out digital payment services. With Dream handling the complexities of compliance, security, and scalability, clients can focus on embedding and monetizing modern payment solutions. Whether streamlining operations or creating new revenue streams, Dream empowers organizations to build the future of payments in today’s digital-first economy.
To learn more about how Dream Payments can assist your organization during and after the Canada Postal strike, please visit www.dreampayments.com or contact our team at sales@dreampayments.com
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