InsurTech NY: Pliant on Automating Payouts and Fighting Insurance Fraud with Virtual Cards

Why It Matters

Automating payouts with virtual cards slashes fraud risk and speeds claims, giving insurers a clear efficiency and customer‑service advantage.

Key Takeaways

• Pliant automates payouts via virtual Visa card program.
• Virtual cards reduce fraud and streamline refunds, benefits, adjustments.
• Fintech integration remains lagging in insurance carriers and underwriters.
• InsurTech NY draws top MGAs, underwriters, tech partners annually.
• Human‑centric insurance focus highlights need for rapid tech adoption.

Summary

The video spotlights Pliant’s fintech solution that issues virtual Visa cards to automate a wide range of insurance payouts—adjustments, refunds, benefits and reimbursements—directly into core platforms. Presented at InsurTech New York, the platform is positioned as a bridge between traditional insurance operations and modern fintech capabilities.

Key points include the claim that virtual cards cut fraud exposure and accelerate payment cycles, delivering measurable efficiency gains. The speaker notes that while carriers and underwriters recognize fintech’s potential, its deployment remains the last piece of the digital transformation puzzle in the industry.

The presenter emphasizes the conference’s caliber, describing InsurTech NY as a must‑attend event for MGAs, underwriters and technology partners. He also underscores the “human side of insurance,” arguing that technology should serve people, not just processes.

For insurers, adopting Pliant’s virtual‑card model could lower operational costs, improve customer satisfaction, and create a competitive edge as regulatory and consumer pressures push for faster, more transparent claims handling.

Original Description

At InsurTech NY, Andrew Jernigan from Pliant outlines how his company’s FinTech platform is working to optimize efficiency and reduce fraud within the insurance industry. The Pliant platform automates payouts into core systems, primarily by deploying a virtual Visa card program. 

Pliant uses virtual Visa cards can be used to issue payouts for a variety of purposes, including adjustments, refunds, benefits, and reimbursements. Jernigan expresses his high regard for InsurTech NY, noting that the caliber of attendees, from MGA's and underwriters to technology partners, is consistently impressive, making it a "must-attend" event. 

Pliant believes the conference’s focus on the "human side of insurance" is crucial because technology, especially FinTech, is changing rapidly. However, Jernigan points out that the application of FinTech is often overlooked by insurance carriers and underwriters, believing it is typically the last segment to be deployed within the insurance segment.