Royal Sun Alliance (RSA) is collaborating with
Edenred to launch a prepaid insurance card in the UK.
Customers of RSA will now have the option to
receive a prepaid insurance card or a cash settlement when settling
a claim for home and contents insurance.
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The card is redeemable at many of the UK’s
major high street retailers, including Debenhams and Argos, and can
be used anywhere within the Mastercard/Maestreo network.
RSA said the card can be issued more quickly
than a banked cheque, allowing the customer to replace the insured
item in a shorter period of time.
The settlement payment is separate from the
customer’s bank account – increasing the likelihood of replacing
the insured item.
Colin Hodgson, sales director at Edenred
said:
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By GlobalData“The swift distribution of the cards, combined with the
convenience and features of prepaid cards in general, has created
an attractive proposition for RSA and its policy holders as is
demonstrated by the willingness of policy holders to accept the
prepaid insurance card.”
