RICHMOND, VA,JUNE 9, 2017 — Leading travel insurance provider Allianz Global Assistance announced that it has joined forces with Mastercard to deliver claims payments in real time to bank accounts through debit cards. Using Mastercard Send™, Allianz can now pay customers within minutes of their claim being finalized. This allows travelers to get access to their funds sooner, which may help them to pay travel expenses or replace lost or stolen items while they’re still on their trip. Mastercard Send puts money in travelers’ hands faster and alleviates the wait that’s created when a check lands in a consumer’s mailbox while they are still on their trip.
Mastercard Send is a Push Payments service that facilitates the delivery of funds quickly and securely. These funds can then be used anywhere the card is accepted, including overseas. Through a single connection to the Mastercard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers and small businesses. By digitizing personal payments that are typically handled via cash or check, Mastercard provides greater convenience, choice and security to both payment senders and receivers.
In March, Allianz Global Assistance announced the ability to make claim payments directly to customer bank accounts. Those payments are routed through the banking system and usually arrive within about two days. Currently about one-third of Allianz Global Assistance customers are choosing the direct deposit payment option when they file their claim online.
“We’re pleased to offer consumers two ways to skip the mailbox and receive claim payments shortly after approval,” said Joe Mason, Chief Marketing Officer at Allianz Global Assistance USA. “Mastercard Send’s technology allows travelers to receive their funds anywhere in the world and use that money to pay for travel expenses, purchase essentials while their luggage is delayed or even make a deposit for their next trip.”
Earlier this year, Allianz rolled out a suite of innovations and improvements to make filing a travel insurance claim and receiving payment faster and easier. Among the innovations the company announced, were redesigned claim forms that are easier to understand and use and the ability to file an online claim from any device. Consumers can even use the company’s award-winning TravelSmart™ mobile app to file and track claims.
Allianz Global Assistance offers travel insurance* through most major U.S. airlines, leading travel agents, online travel agencies, other travel suppliers and directly to consumers. For more information on Allianz Global Assistance and the policies offered for travelers, please visit: http://www.allianztravelinsurance.com.
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Allianz Global Assistance USA
Allianz Global Assistance USA (AGA Service Company) is a leading consumer specialty insurance and assistance company. We provide insurance to over 25 million customers annually and are best known for our Allianz Travel Insurance plans. In addition to travel insurance, Allianz Global Assistance USA offers tuition insurance, event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. The company also serves as an outsource provider for in-bound call center services and claims administration for property and casualty insurers and credit card companies.
*Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. For a complete description of the coverage and benefit limits offered under your plan, carefully review your plan’s Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A-" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101-C series or 101-P series, depending on state of residence. Allianz Global Assistance and Allianz Travel Insurance are brands of AGA Service Company. AGA Service Company is the licensed producer and administrator of these plans and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage due to the affiliation between AGA Service Company and Jefferson Insurance Company. Non-insurance benefits/products are provided and serviced by AGA Service Company.