Peabody, MA -(BusinessWire)- Energi, a 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.
“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.