Hollard Insurance Prepaid MasterCard Card Makes Claims Payment Easy
-Leading South African insurer adopts prepaid filtering technology to improve customer experience
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Johannesburg, – Hollard Insurance, South Africa’s largest independent insurer, in collaboration with MasterCard Worldwide,ValueCard, Opengate and Tutuka recently launched the Hollard ClaimsCard to make the claims payment process easier, safer and more efficient for both claimants and the insurance company.
The ClaimsCard is the first prepaid MasterCard card with filtering technology launched in South Africa. This technology, provided by MasterCard, enables Hollard to deliver a value-added service whereby claimants can use the card at participating retailers to replace goods covered by a specific claim.
“The filtering technology offers customers a convenient, secure, and efficient purchasing solution and simultaneously enables us to better manage our claims processes. Ultimately, our customers enjoy the best possible up-to-date cover, with peace-of-mind,” Arie de Ridder, group procurement manager at Hollard.
Once a claim is approved, cards are typically delivered within 48 hours and activated by a secure SMS process. Customers can replace goods at their convenience from more than 2000 retailers across South Africa, including jewellery stores, electronics outlets, furniture, and clothing suppliers
“The Hollard ClaimsCard gives claimants their purchasing power back so that they can replace lost, stolen or damaged goods almost immediately. It also means that claimants can get what they want as per the approved claims category, when they want, from the participating retailer of their choice,” says Drisha Nair, marketing director at Tutuka.
Payment at point of sale is made via a secure PIN authorized transaction, and cardholders can keep up to date with their remaining balance by visiting the ClaimsCard website.
“Since launching the Hollard ClaimsCard, we have paid more than R7 million in claims through the card. Given the pleasing uptake so far, we anticipate that as many as 30% of all household contents claim settlements will be paid through the Hollard ClaimCards within the next year,” says de Ridder.
MasterCard’s prepaid technology makes payments safer, more secure and more convenient, according to Dries Zietsman, country manager, South Africa, MasterCard Worldwide.
“Removing cash from the claims process eliminates the costs and risks normally associated with cash transactions. The ClaimsCard is set to revolutionise the South African insurance industry, which is ready to embrace financial services products that reduce the risks associated with claims payments,” says Zietsman.
About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the conversation on Cashless Conversations Blog and subscribe for the latest news.
Tutuka is a software company focused on prepaid technology, and is the largest and longest running voucher system provider in South Africa. Tutuka was founded in 1998 and brought out the first private label and prepaid MasterCards in South Africa. Today we boast some of South Africa’s leading retailers and marketers as our customers including Standard Bank, Liberty Properties, Altech Autopage, Vodacom, Visa, Pick n Pay, Game, Investec Plc, Broll, Makro, Game Cape Union Mart, Edgars, NuPay, Look & Listen and Sportsman’s Warehouse, to name a few. Visit www.tutuka.com for more information
About Hollard Insurance
Hollard is South Africa’s biggest independent insurer comprising over 2,000 employees, with nine offices around the world, covering Australia, Botswana, China, India, Mozambique, Namibia, United Kingdom, and Zambia. The company operates under a single brand with short-term and life insurance licences, and has more than seven-million policy holders and relationships with over 100 business partners. For more information visit: www.hollard.co.za
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