| Benefits to Insurers | - Reduce Handling Costs on All Payments
- Save up to 85% of the cost of issuing checks.
- Turnkey Program with Quick, Easy Implementation
- Savings start immediately.
- Reduce Fraud Possibilities
- FBI studies report that 94% of companies experience check fraud compared with only 4% that experienced debit card fraud.*
- No Lost, Stolen Check Replacements
- The Bancorp Bank assumes responsibility for a lost or stolen card;
- Lost or stolen cards can be blocked preserving unused funds.
- Improve Cash Flow, Cash Control, and Record Keeping
- Payments load exactly when required;
- Timely reconciliation of fund transfers.
- Eliminate the Uncertainty of Mail
- No need to mail early to meet statutory requirements.
- Improve Customer Service
- 24/7 bi-lingual call center;
- Deliver necessary benefits to your customers and their claimants immediately.
- Gain a Competitive Advantage in the Marketplace
- Realize savings that can be passed on to policyholders;
- Deliver superior benefits than other insurers.
| | | | Benefits to Claimant Cardholders | - A personalized InsurCard Visa Prepaid Card.
- No need for a bank account or to provide personal bank account information to the insurance company.
- Funds are delivered immediately:
- No waiting for a check to arrive in the mail;
- No waiting in line to get cash;
- No waiting for the check to clear;
- No need to give a check cashing agent a percentage of your payment.
- Get cash from the ATM.
- At any ATM that has the Visa®, PLUS®, STAR®, NYCE® or PULSE® brand;
- No surcharge withdrawals at ATM’s with the STAR surcharge free symbol.
- Use InsurCard for shopping and paying bills
- Anywhere Visa debit cards are accepted;
- To pay bills and shop over the Internet.
- Get cash at any bank that displays the Visa brand.
- InsurCard transactions are protected by the Visa Zero Liability policy.
- Cardholders are protected against stolen cards and fraudulent transactions.
- 24/7 customer service by phone or on the web.
- Bi-lingual live customer service representatives available by phone;
- Check balances and get personal assistance wherever and whenever needed.
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* 2006 Study by the Association for Financial Professionals
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