Are you still relying on paper checks to disperse benefits? Pay benefits electronically, and you can save money when distributing:
- Workers' compensation indemnity payments
- Property and casualty claims payments
- Retirement benefits
Many of the costs and risks associated with check disbursement are hidden throughout the process.
- Operational costs of printing, storage and security
- Mailing prep and postage
- Replacement of lost and stolen checks
- Customer inquiries
- Escheatment management
- Fraud and theft losses
Electronic payment processing using prepaid debit cards can significantly reduce costs and improve customer service, control of payments, and fraud detection. Additionally, benefit recipients/claimants will enjoy the convenience of no longer having to cash checks, quicker availability of funds, multiple options for free access to benefit payments, and numerous other prepaid card features.
FSV will use our experience in the insurance sector to design a program for your organization that will streamline payment distribution and save money without disrupting critical internal claims processes. We invite you to contact us so that we can discuss a prepaid insurance solution that will meet your specific business needs.
To learn more about FSV's insurance card offering,
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