Hollard Insurance Prepaid MasterCard Card Makes Claims Payment Easy

Nov. 22, 2012 - PRLog -- to make the claims payment process easier, safer and more efficient for both claimants and the insurance company.

The ClaimsCard is the first prepaid MasterCard card with filtering technology launched in South Africa. This technology, provided by MasterCard, enables Hollard to deliver a value-added service whereby claimants can use the card at participating retailers to replace goods covered by a specific claim.

“The filtering technology offers customers a convenient, secure, and efficient purchasing solution and simultaneously enables us to better manage our claims processes. Ultimately, our customers enjoy the best possible up-to-date cover, with peace-of-mind,” Arie de Ridder, group procurement manager at Hollard.

Once a claim is approved, cards are typically delivered within 48 hours and activated by a secure SMS process. Customers can replace goods at their convenience from more than 2000 retailers across South Africa, including jewellery stores, electronics outlets, furniture, and clothing suppliers

“The Hollard ClaimsCard gives claimants their purchasing power back so that they can replace lost, stolen or damaged goods almost immediately. It also means that claimants can get what they want as per the approved claims category, when they want, from the participating retailer of their choice,” says Drisha Nair, marketing director at Tutuka.

Payment at point of sale is made via a secure PIN authorized transaction, and cardholders can keep up to date with their remaining balance by visiting the ClaimsCard website.

“Since launching the Hollard ClaimsCard, we have paid more than R7 million in claims through the card. Given the pleasing uptake so far, we anticipate that as many as 30% of all household contents claim settlements will be paid through the Hollard ClaimCards within the next year,” says de Ridder.

MasterCard’s prepaid technology makes payments safer, more secure and more convenient, according to Dries Zietsman, country manager, South Africa, MasterCard Worldwide.

“Removing cash from the claims process eliminates the costs and risks normally associated with cash transactions. The ClaimsCard is set to revolutionise the South African insurance industry, which is ready to embrace financial services products that reduce the risks associated with claims payments,” says Zietsman.