PassportCard, a leader in travel and health insurance, has been granted a US patent for its real-time debit card claims payment, which gives customers access to a 100% cashless global insurance service.
LONDON, May 31, 2022 /PRNewswire/ — Patented technology, powered by AI, predictive analytics and an extensive database of medical services, enables customers to facilitate automated, instant insurance claims processing – without having to pay with their own funds and waiting to be reimbursed.
The system pre-emptively processes a claim, activating the dedicated debit card issued to the customer when taking out the policy. After processing, the customer pays with their card or digital wallet, without having to deal with the usual pain points of paperwork, processes and personal expenses.
PassportCard is the only company in the world to offer real-time payment via a reloadable debit card, in the event of an insurance-related scenario. This includes payment for medical services, medication and/or compensation for lost baggage, delays and other emergencies.
Since entering the market, PassportCard has become a leader in major travel insurance markets across Europe and the Pacific. With this new patent – which will provide intellectual property protection and further growth potential in North Americaone of the world’s key insurance markets – the company aims to continue to expand, to bring superior cross-border insurance services to more locations and customers than ever before .
Partnership discussions are underway globally to allow other organizations to benefit from this revolution, via possible licensing and white label agreements.
Chairman of PassportCard Group, Alon Ketzef said:
“It is an honor to have received this recognition for PassportCard’s innovative technology in the United States.
“Continuous innovation to remove the friction inherent in insurance has always been our primary focus; we will always seek to meet customers through their preferred channels. While our end-to-end digital solution is important, it is equally paramount that the personalized, 24/7 customer support we provide fully aligns with our technological advancements – a perfect combination that delivers PassportCard’s unique and unparalleled customer experience.
“With our technology recognized as unique and further patents pending for further innovation in customer experience, we feel in a stronger position than ever to expand into new territories.
“We look forward to this exciting next step in bringing seamless, hassle-free insurance to the masses.”
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