Homeowners policyholders of New Jersey’s Franklin Mutual Insurance will have access to a debit card-style program that allows them to more quickly pay claims on their policy.
The card, known as InsurCard, is a pre-paid card created specifically to distribute claim funds. The cards can be distributed at the scene of a homeowners claims and provide immediate access to money. The InsurCard program is a partnership with Visa.
The InsurCard was developed by J. Robert Mendte of Lansdale, Pennsylvania, insurance professional with more than 30 years experience as an operations executive and management consultant.
Franklin Mutual Insurance is the first carrier to introduce InsurCard in New Jersey.
“We believe an insurance carrier should always try to find new and innovative ways to provide better, quicker and more efficient claims service to their policyholders,” said Dale Martin, co-vice president of claims for Franklin Mutual Insurance.
Field adjusters will carry a supply of payment cards as they assess damage. These cards are inactive and have no value until authorized by the insurer. Upon arrival, adjusters will make an initial claim evaluation and the cards will be loaded with the appropriate value by the adjuster either by phone or an Internet connection.
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Source: Bancorp
Topics New Jersey
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