Open finance Connect to financial data through a single API
Fraud & risk prevention Detect & prevent fraud across your user base
Onboarding & identity verification Instantly onboard new users & verify identities
Billing & recurring payments Boost successful payments for more revenue
Income verification Verify income in seconds
KYC & AML compliance Manage compliance & mitigate risk
Underwriting Make smarter credit decisions
Inbound bank payments Accept more successful bank payments
Outbound bank payments Send faster, more reliable bank payouts
Personal financial management Deliver tailored insights to improve finances
Business financial management Power tools for modern business finance
Earned wage access Offer early access to wages

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Spot risks earlier

Verify identity and account ownership to help spot suspicious activity and cut claims fraud at first notice of loss.

Simplify payments

Reduce failed premiums and speed up claim payouts when customers need them most.

Speed up underwriting

Real-time income and cash flow insights help insurers gauge risk and price coverage faster.

Catch fraud from onboarding to claims

Plaid powers digital transformation with insights that help flag suspicious activity early and reduce fraud risk across your flow.

  • Confirm identity information against regulated data sources in seconds
  • Catch fraud early by confirming identity and account ownership at first notice of loss
  • Use network and device intelligence to surface hidden fraud patterns
  • Secure every channel by adding verification to self-service flows or secure links for call-center checks

Smarter payments. Happier policyholders.

Insurers can confirm account details in real time to reduce ACH returns. Digital payouts simplify processes and reduce reliance on paper checks.

Verify accounts instantly

Move beyond static database checks. Cut ACH returns by up to 80% to keep more policies in force.

Simplify premium collection

Avoid coverage lapses and save an average of 40% using lower-cost bank rails for recurring payments.

Accelerate claim payouts

With faster payouts over ACH, RTP, or FedNow, you deliver when it matters most.

Work seamlessly with your systems

Plug-in solutions integrate with existing processors and TPAs to move payments faster and keep workflows connected.

  • 10 seconds

to unlock cash flow data

  • 25% boost

in onboarding conversion

  • 72%

of consumers feel safer with ID verification

Faster underwriting, expanded coverage, more approvals

Plaid gives life and P&C insurers real-time income, cash flow, and asset data to support more informed pricing and expand access.

  • Get real time income views from bank and payroll data to avoid NIGO delays.

  • Accelerate onboarding with real time data, replacing manual reviews.

  • Understand the full financial picture with income stability and cash flow insights.

  • Move faster, price smarter, and approve more applicants.

  • Enterprise-grade security

Plaid meets SOC 2 Type II, ISO 27001, and uses end-to-end encryption and continuous monitoring to help keep sensitive data protected at scale.

  • A network millions trust

1 in 2 Americans with a bank account have connected through Plaid, giving insurers a secure, proven way to connect with customers.

  • Permissioned and transparent by design

Policyholders choose what they share with Plaid, giving them clear visibility and control over their data.

Property & Casualty (P&C)

Real-time financial insights reduce fraud, streamline payments, and improve underwriting and claims.

Life & Benefits

Use income, identity, and bank data to reduce NIGO, support underwriting, and reach customers with limited credit history.

Third-Party Administrators (TPAs)

Support faster, more accurate premium collection and claims disbursement across multiple carriers.

Retail & Wholesale Distributors

Streamline submissions, payments, and renewals with bank connections and insights that simplify workflows from quote to bind.

Managing General Agencies (MGAs)

Speed up bind and improve submissions with connected financial data that reduces NIGO and supports smooth premium payments.

Insurtechs

Build differentiated insurance products with Plaid’s easy-to-integrate APIs and tools that power faster, simpler customer flows.

Power every policy with Plaid

Your questions, answered

What is digital transformation in the insurance industry?

Digital transformation in insurance replaces manual, paper-heavy workflows with automated, data-driven experiences across underwriting, billing, and claims. Real-time payments, identity verification, and AI-enabled decisioning help insurers work more efficiently and serve policyholders faster.

How do insurers prevent and detect fraud in a digital environment?

Insurers use modern fraud prevention tools like real-time identity checks, account owner verification, and behavioral signals to stop fraud at onboarding, billing, and claims. Verified financial data and AI-ready signals help prevent synthetic identities, payment fraud, and misdirected claims.

How are insurance companies automating claims payments?

Insurers are modernizing payments by replacing checks and manual processes with digital platforms that verify accounts and move money securely in real time. Automated claims speed relief and reduce fraud, while automated premium collection lowers ACH returns and improves policyholder experience.

How is automation changing insurance underwriting?

Automation is transforming underwriting by replacing PDFs and self-reported financials with verified data and AI-driven insights. Insurers instantly validate income, assets, and risk—speeding decisions, reducing NIGO, and creating a more consistent, transparent experience for applicants.