Bancorp Bank Payment Solutions Group has joined with InsurCard to offer an instant issue prepaid card offering to North American Risk Services, for property and workers compensation claims.
The company said that the InsurCard offers benefits for an injured worker or a displaced homeowner by enabling them to use the funds immediately anywhere the Visa debit cards are accepted to avoid the check cashing hassle.
Robert Ruryk, president and chief operating officer of North American Risk Services, said: “We’re always looking for ways to provide better service to our clients. Efficient payment processing and a timely delivery method can help that objective. By partnering with InsurCard, we have a solution that can assist Workers Compensation claimants, customers in a catastrophe situation, and even third parties in our transportation programs.”
Robert Mendte, president of InsurCard, said: “We are thrilled to partner with NARS to assist in providing alternative payment options for its clients. The insurance industry is a unique fit for prepaid cards because the card can greatly expedite the entire claims process.”
InsurCard is a wholly owned subsidiary of Service Network Design, a management consulting firm with corporate financial clients in both the insurance and prepaid card industries. The InsurCard Prepaid Card was designed to meet the requirements of both the insurance and prepaid card industries.