Insurance claim settlements
Insurance companies are increasingly using prepaid accounts to satisfy small to mid-size claim settlements. The account with a card is more efficient than paper cheques or vouchers, and can provide claimants with easy access to cash access.
Customers love the convenience and ease of card usage. This reflects well on the company, who can reinforce their image even further with private label branding.
The accounts can be used for many different types of insurance claims, including:
- workman’s compensation
- auto claims
- home contents
- employee health compensation benefits
- dental benefits
- catastrophic/accidental damage.