Altair's Insurance Solution
Prepaid Insurance Claim Cards enable insurance companies and large corporations
to issue Prepaid Cards to claimants to purchase replacement items in the event of
a claim.
Altair's Insurance Claim Cards speed up the claim settlement process while delivering
instant contribution to clients' profitability. Insurance companies can solve
disbursement challenges, reduce expenses associated with current cheque and cash
issuing methods while maintaining total control over claim settlement by using an
Insurance Claim Card solution.
Altair's Prepaid Insurance Claim Card programs are tailored to our clients'
requirements, providing numerous settlement methods that are suitable for a broad
range of insurance claim payments, including:
- Workers compensation
- Auto claims
- Home content insurance
- Employee health or compensation
- Dental benefits
- Major catastrophe
- Personal insurance
Altair's Insurance Card programs can easily be combined with the enhanced functionality
of the Prepaid Travel Card. This combination is ideal for the travel insurance market.
Closed and Controlled Card Programs
Clients can easily restrict claimants redemption with closed or controlled card
programs (limited to purchases from specified retailers). This extensively diminishes
the chance of insurance fraud as claimants do not receive cash.
Issuing Insurance Claim Cards effectively eliminates the need to issue paper vouchers
to claimants to replace lost, damaged or stolen goods. This results in a more cost
effective method of claim settlement as well as drastically reducing the element
of shrinkage, while building greater brand awareness and experience for the cardholders.
Key features of the Insurance Claim Card include:
- Easy integration with current systems
- Issue reloadable or once-off disposable cards
- Personalised or non-personalised cards
- A number of currencies can be issued to claimants globally
- Can be loaded with fixed or variable funds
- Full account management using telephone IVR, mobile phone or Internet