Advantages:* Convenience to customers: A claims adjuster can perform on-the-spot issuance of cards once assessing overall damage to a home.
* User flexibility: A Visa-branded ClaimsCard is accepted at far more locations than personal checks would be. This takes on added meaning in a case where a customer must evacuate their home in the middle of the night.
* Cost savings: Claims card adopters, such as Amica Mutual Insurance Co., believe that plastic is cheaper than issuing claims checks.
* Customer retention: Providing funds more quickly to policyholders can help retain customers.
* Security: A customer would have to report a stolen card.
* Plastic overload: The last thing many individuals want, or need, is another credit or debit card.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access