Berkshire Hathaway Travel Protection (BHTP) and MasterCard have teamed with Skift’s Global Travel Forum to drastically cut the time it takes to pay travel-insurance claims.
Traditionally, travel insurance claim payments have been made through online payment systems, EFT transaction or paper check – all of which meant travelers might not receive claim payments for days or weeks. Berkshire Hathaway Travel Protection uses MasterCard Send to facilitate the payment of claims, typically within seconds, enabling travelers to have funds sent directly to almost any personal account through a U.S. debit card wherever they may travel.
By becoming the first travel insurer to implement MasterCard Send into its claims processing system, BHTP is responding to a longstanding consumer frustration with the hassles and delays of travel-insurance claim payments, and reiterating its commitment to a consumer-centric claims-payment approach and an improved travel-insurance experience.
The company uses technology to monitor customers’ travel plans. When certain travel mishaps occur, BHTP can start a claim or provide assistance and pay claims without customers having to do anything. Travelers can use the BHTP mobile app to quickly send any documentation that may be needed, and track the claim payment.
BHTP remains committed to being a standout in the travel-insurance industry, delivering the services and solutions that meet customers’ travel needs and reduce their frustrations. In fact, last year, the company launched AirCare, a flight protection insurance policy that pays passengers for air-travel inconveniences like delays, cancellations, extended tarmac delays, lost/delayed baggage and missed connections.
MasterCard Send is a first-of-its-kind personal payments service that facilitates the delivery of funds quickly and securely to consumers domestically and internationally. Through a single connection to the MasterCard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers whether they are banked or unbanked, and located domestically or abroad. By digitizing personal payments that are typically handled via cash or check, MasterCard is providing greater convenience, choice and security to both payment senders and receivers in developed and developing markets.
For data, background and forecasts on MasterCard: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).