SnapRefund
The unified platform for insurers and agents to send, approve, and reconcile payments instantly.
Overview
SnapRefund is an award-winning insurtech company providing fast, secure, and automated claim payment solutions for insurers, MGAs, and TPAs. The company empowers insurers and agents to manage payments with automation and analytics to improve operational efficiency and policyholder retention.
Originally founded as "Dime" in 2019, SnapRefund pivoted from helping underbanked individuals manage digital payments to focusing on insurance payouts in 2021. The company addresses a critical market need, as J.D. Power data shows the average U.S. property claimant waits 44 days from first notice of loss to final payment. SnapRefund's platform enables direct bank deposits and instant payments, significantly reducing this wait time.
The company expects to surpass $400 million in total transactions in 2026 and has secured multiple publicly traded insurance carrier clients. SnapRefund won first place at the State Farm Startup Pitch Competition at ITC Vegas and is a graduate of the Techstars Boulder Accelerator 2023.
Products & Services
ClaimsSnap
ClaimsSnap is a digital claims payment platform that simplifies all outbound payments for insurance carriers, MGAs, and Third Party Administrators. It enables insurers to settle claim payments instantly and securely from their own bank accounts, eliminating the need for third-party custodial accounts.
Key Features
- Direct bank connections without vendor custodial accounts
- Instant payouts that settle in seconds, plus ACH and check options
- Automatic lender approvals for mortgage-related claims
- Integration with claim management systems for automated payment triggers
- Support for multiple payment methods including direct transfers and secure payment links
- Deployment in under two weeks for most carriers
- Support for underbanked claimants via instant payments to reloadable gift cards
Target Users: Carriers, MGAs, TPAs
AgentSnap
AgentSnap is an agency billing and policy binding platform that helps insurance agents collect premiums and automate invoicing. It streamlines premium remittance and reduces time spent on administrative billing tasks.
Key Features
- Automated invoicing and premium collection
- E-signature integration for policy binding
- Premium remittance automation
- Analytics and reporting dashboard
Target Users: Insurance Agents, Agencies
At a Glance
- Founded
- 2019
- Headquarters
- Philadelphia, Pennsylvania
- Employees
- 1-10
- Funding
- Seed
Category & Focus
- Category
- Billing & Payments
- Subcategories
- Claims Payments Premium Collection Agency Billing
- Insurance Verticals
- P&C
- Target Customers
- Carriers, MGAs, TPAs, Agents
Customers
- [Unknown]
Last updated: 2026-03-25