Market Overview

Shelter Insurance® Brings Commerce Bank's Claims Payment Technology to Customers

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Top 25 insurance provider leverages Bank's platform to offer
customers options, convenience and payment in as little as 30 minutes

Shelter Insurance, a mutual insurance company headquartered in Columbia,
MO, is implementing a program to provide additional electronic payment
options by way of CommerceVantage® Claims Payments, Commerce's
innovative technology for the insurance industry. The solution allows
Shelter to offer its customers a convenient, seamless and secure
platform where they are able to choose among several payment options,
including an option powered by Visa Direct that enables payment within
30 minutes of selection. The solution is a first of its kind for the
industry and was specifically designed to address challenges customers
experience when negotiating checks or waiting for payments by mail.
Through an easy-to-use digital and mobile-friendly platform, the
technology offers customers choices and the option of prompt payment
directly to their bank account.

Commerce Bank, a $24.5 billion Missouri-based bank (NASDAQ:CBSH),
understands the unique needs and challenges of the insurance industry.
Leveraging its deep-rooted payments experience as well as the collective
insights of an advisory council composed of insurance companies, Claims
Payments was born. The solution was designed through the lens of the
customer to solve for elements of the claims experience that could be
improved. By providing accessibility and timeliness, the solution not
only does just that, but it also fills an existing void within the
industry and simplifies a process that can otherwise be complicated and
stressful.

"When handling claims payments, maintaining high standards, reducing
cycle time and improving customer satisfaction are essential. Our
solution offers a win-win for both Shelter and their customers through
this automated, easy-to-use technology," says Lenny Richileau, vice
president, insurance industry consultant at Commerce Bank. "For Shelter,
customer checks remain an option; however, Commerce's solution enables
the capability to offer faster payment methods, while leveraging the
knowledge of a financial organization to facilitate the payment."

If the customer chooses to use the solution, Shelter sends an automated
payment file to Commerce. Commerce then facilitates the payment in the
way Shelter's insured, claimant or service provider has selected,
including ACH, check, or Visa Direct. These options allow real customer
choice, and if Visa Direct is selected, payment can be made to a debit
card within 30 minutes, thanks to Visa's real-time push-to-card payment
solution.

"The speed and ease at which customers receive their insurance
disbursements can have a significant impact on their lives," said
Cecilia Frew, Head of Visa Direct, North America. "By implementing Visa
Direct technology into their service offerings, Commerce Bank and
Shelter Insurance are providing real-time payment to their customers and
making the days of waiting to receive insurance payouts a thing of the
past."

"Our collaboration with Commerce and the development of this product is
a true testament to Commerce's ‘Challenge Accepted.TM'
branding – we told them our challenges and our customer's preferences
and they delivered a solution that not only solves those challenges but
allows us to better serve our customers," said Lyn Scrivner, Claims
Director of Shelter Insurance. "Commerce's innovative solution gives us
the ability to maintain our commitment to superior customer service
coupled with continuous improvement, and, most importantly, delivering
on our promise of protecting our policyholders. Giving our customers the
option to receive their claim payment with the payment method the
customer prefers is an important customer convenience factor Shelter
wanted to enable as quickly as possible. Commerce's solution was the
perfect answer."

For more information, visit www.commercebank.com/claimspayments.

About Commerce Bank

Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $24.5 billion regional bank holding company, as of June 30,
2018. For more than 150 years, Commerce has been meeting the financial
services needs of individuals and businesses. Commerce provides a full
range of financial products to consumer and commercial customers,
including personal banking, lending, mortgage banking, wealth
management, brokerage and capital markets services. Commerce operates in
approximately 330 locations in the central United States and has a
nationwide presence in the commercial payments industry.

For additional information, please visit www.commercebank.com.

About Shelter Insurance

Shelter Insurance® is a dynamic group of companies focused on providing
financially secure insurance protection and services to individuals and
businesses, a quality working environment, emphasis on easy-to-use
services, a commitment to continuous improvement, and a passion for
pleasing our customers. The Group specializes in both personal
commercial property insurance and includes a reinsurance and life
company and has over $5.5 billion of assets under management. The Group
is headquartered in Columbia, Missouri.

For more information, visit our website at www.ShelterInsurance.com.

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