Introducing PassportCard, the World’s First Travel Insurance that Pays Out in Real Time
PassportCard is coming to Canada, after successful launches in Israel and Germany--and it promises to disrupt a stale industry by introducing a service with which “travellers will fall in love.”
Taking an out-dated tedious process of long claim filing, PassportCard introduces real-time claim handling and promises to revolutionize the travel insurance industry. It offers real-time payments so travellers have no-out of pocket expenses, no paperwork and no long claim process.
“The travel insurance industry worldwide has a reputation for being a necessary evil. Purchasing it provides temporary peace of mind if you don’t use it, and frustration if you do end up having to make a claim,” says PassportCard’s country manager for Canada, Gary Andrews, who is a 25-year veteran of the industry. “We trust travellers and our goal is to create a travel insurance solution insurance providers, medical assistance companies and travellers fall in love with because of its innovative offering and commitment to outstanding customer service.”
PassportCard real-time claim handling is facilitated by a debit card, which is provided to the customer when a travel insurance policy is purchased. Then, when customers travel abroad and need medical help, they call 24/7 customer care and the claim is settled immediately, in real-time. The card is topped-up and the customer can proceed to the medical provider and get the medical treatment without the need to file any claim forms upon returning home and without having any out of pocket expenses.
Delayed or lost luggage issues are handled just as efficiently. A quick call to customer care will activate money being placed into the debit card, which can be used like a credit card. Another option, if travellers are in a location where cash is needed,is that a PIN code will be provided to enable money to be withdrawn from an ATM.
The benefits of PassportCard to insurers, assistance companies or third party administrators is that the process of settling out of pocket expenses is not only done in real time, the claim's event is cost contained as well, reducing average claims costs and operating costs. It also creates an unmet level of customer loyalty that generates lifetime commissions to the insurance distributors each time the PassportCard is activated for a trip.
“Right now we are looking for partners in Canada to bring this level of service to Canadian travellers,” says Andrews. "We have a comprehensive system facilitating the entire operation with global capabilities and an easy online sales platform--it really is a turn-key solution.”
PassportCard, a UK based company, is a joint venture between White Mountains Insurance group and DavidShield. Now operating in Israel, Germany and Canada, the company franchises its unique solutions to major travel insurance and medical assistance companies worldwide. PassportCard's unique offering has won several industry prizes as well as being recognized during the PhoCusWright Travel Innovation Summit in Los Angeles in November 2014, winning both the General Catalyst and the Most Innovative awards. For more info, visit www.passportcard.com.