Customers can pay for insurance with new InsurCard Visa Prepaid card

Visa Inc has entered into an agreement with InsurCard, a wholly owned subsidiary of Service Network Design, LLC (SND) to become a preferred brand for the delivery of payment for insurance claims. InsurCard provides the insurance industry with card-based solutions for the payment of claims, expanding the penetration of electronic payments in an industry traditionally reliant on check payments.

Insurers who use InsurCard’s program can decrease their payment processing costs - saving up to 85% compared to the cost of issuing checks; improve cash control; enhance fraud protection; and boost customer service.

Policyholders enjoy immediate, secure delivery of funds and avoid waiting for a check in the mail, the need to cash or deposit a check, or waiting for a check to clear. InsurCard Visa Prepaid cards can be used anywhere Visa debit cards are accepted, including ATMs, and are protected against loss or theft by Visa's Zero Liability protection.

The InsurCard Visa Prepaid card is issued by The Bancorp Bank and is specifically designed to meet the stringent requirements of both the insurance and prepaid card industries.