Energi, a risk management and insurance program provider for the energy industry, is now offering prepaid debit cards for workers’ compensation payments.
Partnering with InsurCard, a prepaid card program provider 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 plans to explore new ways to expand the use of prepaid cards to satisfy other indemnity payment needs.
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.