PHILADELPHIA, PA — SnapRefund introduced a new claims-payment platform designed to help insurers slash delays and deliver near-instant payouts to policyholders, aiming to modernize one of the industry’s most notoriously sluggish processes.
The software, called ClaimsSnap, enables insurers, managing general agents and third-party administrators to automate claims disbursements directly from their existing bank accounts. The launch comes as policyholders increasingly expect digital payments, even as the insurance sector continues to lag behind other industries. According to J.D. Power, the average U.S. property claimant waits 44 days from first notice of loss to final payment, with satisfaction dropping sharply when delays mount.
ClaimsSnap offers carriers the ability to issue direct digital payments or secure payment links immediately upon claim approval, letting policyholders choose how they want to be paid. The system also automates lender approvals for mortgage-related claims and integrates with claims management systems so payments can be triggered with no manual intervention. SnapRefund says most carriers can be fully operational in under two weeks.
The company positioned the platform as an alternative to slow, fragmented, or restrictive point solutions that often require lengthy implementation cycles, rely on vendor-controlled custodial bank accounts, or lock insurers into long-term contracts.
“It’s like we took a payment platform from the future and brought it into 2025,” said Cody Eddings, SnapRefund’s co-founder and CEO. He said the platform allows carriers to settle payments instantly and securely while retaining control of their own bank accounts, interest yields, and compliance obligations. ClaimsSnap supports both traditional paper checks and digital payout options.
Co-founder and COO Anis Taylor said the launch complements the company’s earlier product, AgentSnap, which streamlines inbound premium collection. “Together, they streamline transactions across the entire insurance lifecycle,” Taylor said.
SnapRefund’s approach has already been recognized industrywide, including a first-place win at the State Farm Startup Pitch Competition at ITC Vegas. The company says ClaimsSnap is built to meet rising expectations for transparency, speed and convenience in insurance payments as carriers seek to modernize legacy systems.
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