Ep. 142: VPay: Fintech + Insurtech = Total Payment Solution

by | Dec 10, 2019

Jeffrey Brown is the President of VPay, a payment solutions company that helps users have a speedy and seamless experience when it comes to claims through secure electronic payments. Jeffrey specializes in business and corporate development as well as sales. He is also a lawyer, having obtained his JD, Order of the Coif, from the Southern Methodist University Dedman School of Law. Jeffrey utilized his law degree to represent startups and Fortune 1000 companies before his position at VPay.

Jeffrey joins us to discuss how VPay works and the problems they seek to remedy. He shares how he got started working in the fin-tech industry and how VPay was formed. He explains how VPay works, what separates them from other payment options, and how policyholders benefit from their services. Jeffrey also explains why ease of payment is critical in insurance and what he thinks about the rise of blockchain technology.

“The moment of truth for any insurer is how you deliver in a time of need for your policyholders.” – Jeffrey Brown

What you’ll learn:

  • What made Jeffrey choose to have a career in fin-tech.
  • How he joined VPay and what it was like at the start.
  • The client problems they often encounter and how they solve them.
  • How a typical transaction transpires from the viewpoint of a customer.
  • Using blockchain in insurance claim payments.
  • His thoughts on the rising number of payment apps and innovations.
  • Solving the paper problem in insurance claim payments.
  • Why the ease of claim payments are fundamental to the customer’s experience.
  • How China is spearheading the payment products industry.
  • Fraud and why digital payments can reduce fraud risks.
  • What users can expect from using VPay.

Connect with Jeffrey

Key Takeaways:

  • The insurance industry has to adapt to a growing mobile market.
  • The US insurance market today is about 3.9-trillion dollars. That would make it the 5th largest economy in the world.

This episode was brought to you by

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

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