Energi Offers Prepaid Debit Cards for Workers Compensation
InsurCard claims solution enables easy electronic payments for benefits
PEABODY, Mass.--(BUSINESS WIRE)--Energi, a leading provider of risk management and insurance programs for the energy industry, is now offering prepaid debit cards for workers compensation payments. Partnering with InsurCard, the leader in prepaid card programs for workers compensation, Energi will be able to offer its policyholders an easy, digital and complete payment solution for claims payments to injured workers and healthcare providers.
“When it comes to a solution like InsurCard, our teams are quick to identify the advantages and adapt our business processes. Using InsurCard, we’re able to increase our efficiency and decrease our costs, while also providing a solution that benefits claimants.”
“While monitoring the latest claims technologies, we saw that issuing claim payment checks was no longer the most efficient solution available,” said Bob Woods, Energi SVP of Claims. “We weighed the needs of our policyholder network and saw an opportunity to enhance this process with an electronic solution. Using InsurCard eliminates the processing cost of paper checks and creates a fast, efficient claims process—while also providing claimants with maximum flexibility.”
The InsurCard prepaid card program is specifically tailored to fit the requirements of workers compensation benefit payments, and is the only prepaid card program that has state compliance approval for use in more than 42 states. Following the introduction of its InsurCard program, Energi is now exploring new ways to expand the use of prepaid cards to satisfy other indemnity payment needs.
“We’re constantly watching the market and our own business to continue growing and improving Energi,” said Brian McCarthy, Energi CEO. “When it comes to a solution like InsurCard, our teams are quick to identify the advantages and adapt our business processes. Using InsurCard, we’re able to increase our efficiency and decrease our costs, while also providing a solution that benefits claimants.”
With the InsurCard payment program, injured workers and healthcare providers instantly have access to funds with no time delay for check clearance. The prepaid debit card solution eliminates check cashing fees, risk of theft and the need for bank accounts or forms, and cards are accepted at automated teller machines and merchants worldwide.
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Energi is a Peabody, Massachusetts-based industrial reinsurance company that provides specialized insurance and risk management products to targeted market segments of the North American energy industry. The core programs include fuel distribution, fuel transport, energy construction, agricultural cooperatives, renewable energy, energy efficiency, utilities and oil & gas exploration. Founded in 2005 by insurance professionals and energy industry leaders, Energi is licensed in all 50 states. For more information, visit www.energi.com.
InsurCard is the leading provider of prepaid card programs for payment of Workers Compensation benefits. Employing specialists in insurance operations and systems and prepaid card programs, InsurCard’s prepaid card programs are designed to meet the stringent requirements of the insurance industry.
InsurCard’s “Total Payment Solution” pays Workers Comp benefits to both claimants and healthcare providers with network-branded prepaid cards. InsurCard offers two products for different uses: a personalized, reloadable plastic prepaid card for Workers Compensation indemnity payments to injured workers; and a virtual prepaid card designed specifically to make payments directly to healthcare providers. Both products have been highly praised by the industry for making electronic payments more effective, simpler, faster and secure.
InsurCard’s prepaid cards can be used wherever MasterCard® debit cards are accepted. www.InsurCard.com