Payments

08:55 AM
Connect Directly
Twitter
LinkedIn
RSS
E-Mail
50%
50%

Assurant Specialty Property Issues Chase Visa-branded Debit Cards for Claims Settlements

Atlanta-based Assurant Specialty Property, provider of specialty insurance and collateral protection programs, now issues Chase Visa-branded debit cards, issued by J.P. Morgan, to renters insurance customers receiving claims payments, instead of settlement checks.

The Assurant Claims debit card works like any other bank-issued debit card. Cardholders can make surcharge-free purchases at the millions of locations that accept Visa debit cards, as well as receive cash back, surcharge-free at participating retail locations.

"With the new debit card program, our customers have access to funds as soon they receive the card. With a paper check, it sometimes can take 10 to 15 business days to process the check and for the bank then to release the funds. We can deliver a debit card in approximately three to five business days," says Kathy McDonald, senior vice president for Assurant Specialty Property.

The Assurant Claims debit card payment program, now available to renters insurance policyholders, will be expanded later in the year to other property and casualty insurance programs, including manufactured housing.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.