DrawCard’s Santam Insurance Claims Card leads the claims payment revolution and is named winner in the Sixth Annual International Paybefore Awards
Tuesday, February 07, 2012
7 February 2012
Paybefore has selected DrawCard’s Santam Insurance Claims Card as a 2012 Paybefore Awards winner in two categories - the Best Emergency/Insurance/Non-Government Benefits Prepaid Program as well as the Best Non-U.S.-Based Prepaid Program. Paybefore Awards, now in its sixth year, is the most prestigious recognition of excellence in the worldwide prepaid and stored value card industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for the global prepaid community.
“To be recognised on the global stage amongst the leading payments companies in the world is extremely gratifying and something we are very proud of. This could only be achieved through the passionate commitment of our staff and the loyalty and support of our clients and partners,” said Philip Froom, co-founder and Chief Executive Officer of DrawCard. “The Santam card programme has revolutionised the way Santam now pays its claims, providing convenience and choice to its policyholders, coupled with an innovative cash-back rewards structure”.
An established leader in its field, DrawCard specialises in the design and development of innovative prepaid card programmes, including Visa payroll cards, incentive cards, gift cards, and insurance replacement cards, amongst others.
“We are very proud of our relationship with DrawCard. As the leading short-term insurer in the South African market, our prepaid card programme is bringing numerous benefits to Santam and its policyholders,” said Robert ter Borg, Head: Group Sourcing Business Development at Santam. This programme has enabled Santam to create flexibility in their claims processes as well as rewarding its policyholders for positive risk management behaviour which benefits the policyholder as well as Santam, says ter Borg. Instead of settling client’s non-motor personal lines claim by cheque or bank transfer, the insurer simply issues a prepaid card with the amount of the approved claim pre-loaded.
Froom commended Santam for being among the first companies globally to implement a card-based claims settlement solution: “It’s very new internationally with only a handful of these type of insurance card programs in use.”
DrawCard also scooped the Best Corporate Prepaid Card Award at the 2011 Global Prepaid Awards held in London in October last year.
“Paybefore Awards was created to honour the companies and individuals that are keeping prepaid on the cutting edge of payments,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel.
“Our industry continues to break new ground and expand the reach of electronic payments because of companies like DrawCard who make innovation and execution a priority,” she continued. “We are proud to recognise its contributions to advancing the prepaid industry.”
“Prepaid is the fastest-growing area of payments because it addresses unmet payment needs of consumers, businesses and governments,” added Marilyn Bochicchio, Paybefore’s CEO. “Paybefore Awards recognises the creativity of prepaid practitioners in developing programmes that address these needs more effectively than cash, cheques or even other types of payment cards.”
The Santam Insurance Claims Card now will vie for best-in-category distinction, which will be announced during the Paybefore Awards ceremony on March 12 at the Prepaid Expo USA (www.prepaidexpousa.com) in Las Vegas.
DrawCard, a pioneer of prepaid cards in South Africa, boasts leading South African retailers, shopping centres and corporates as clients and is a Visa certified card processor for 4 local banks. DrawCard launched SA’s first ever Visa gift card, the first ever SA Visa payroll and incentive cards and Africa’s first ever Visa insurance claims card. DrawCard is also an Approved System Operator and a founding member of the Global Prepaid Exchange in South Africa. DrawCard is a subsidiary of Paycorp Holdings, a member of Transaction Capital.
Visit DrawCard at www.drawcard.co.za.
Paycorp Holdings (Pty) Ltd
Paycorp Holdings is a diversified Southern African payments services group working across all major payments streams; including ATM, card issuing and POS. Paycorp has the largest third party financial transaction switch in Southern Africa, connecting to the majority of Southern African banks and is a VISA third party processor.
Through its focused subsidiaries, (ATM Solutions, DrawCard and EFTPOS), Paycorp operates nationally, employing over 350 people and is a SARB authorised South African System Operator. Paycorp is a subsidiary of Transaction Capital.
Visit Paycorp at www.paycorp.co.za.
Santam, South Africa’s largest short term insurer pays out billions of Rands in claims annually to its policyholders via cash, cheque or EFT into a bank account. The Santam Visa insurance claims card is the only association branded prepaid claims card in Africa and is one of only a handful worldwide. With assets totalling more than R17 billion, a countrywide, world-class contact centre infrastructure, a thriving intermediary network and more than 650 000 policy holders, Santam is South Africa's leading short-term insurer. With a market share exceeding 22%, Santam focuses on corporate, commercial and personal markets.
Visit Santam at www.santam.co.za
Paybefore is the leading information provider to prepaid and stored value industry professionals, offering the latest news, commentary and analysis. Paybefore’s family of industry publications include: Paybefore.com™, a searchable online news and information portal; Paybefore News™, daily news briefs delivered electronically; Paybefore News International™, a weekly compilation of prepaid news and events from outside the United States; Paybefore Update™, an e-newsletter delivered 20 times a year; Paybefore Legal™, a downloadable e-newsletter covering the legislative, regulatory and judicial developments in prepaid, as well as feature articles by leading attorneys in the field; Paybefore Magazine™, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global prepaid and stored value industry; and the only industry directory, Paybefore Buyer’s Guide™, available online and in print.
Visit Paybefore at www.paybefore.com.