Markets : Stored Valued Insurance Cards
Prepaid card technology has opened up a wealth of opportunities for insurance clients, revolutionising the way that insurance payments can be made. By issuing customers with a personalised prepaid debit card, insurers will be in a position to load payments onto the card enabling customers to make their own purchase decisions.
Insurers have been criticised in recent years for forcing consumers to replace claimed goods with less favourable products bought direct from the supplier at heavily discounted prices. This freedom to spend the settlement on a product of their choice will be a welcome return for claimants.
Medical insurance companies or organisations who distribute emergency funds are also tipped to adopt stored value debit cards in the not too distant future.
Contact us to learn more about recent technological developments in this area.