Berkshire Hathaway Travel Protection Delivers Faster, More Efficient Travel-Insurance Claim Payouts with MasterCard Send™
Stevens Point, WI and Purchase, NY – October 14, 2015 – Berkshire Hathaway Travel Protection (BHTP) and MasterCard announced today at Skift’s Global Travel Forum they have teamed up to drastically cut the time it takes to pay travel-insurance claims.
Traditionally, travel insurance claim payments have been made through online payment systems, EFT transaction or paper check – all of which meant travelers might not receive claim payments for days or weeks. Berkshire Hathaway Travel Protection uses MasterCard Send™ to facilitate the payment of claims, typically within seconds, enabling travelers to have funds sent directly to almost any personal account through a U.S. debit card wherever they may travel.
“When you’re facing a travel emergency, there is nothing more concerning than waiting days for payment or wire transfers,” said Dean Sivley, president of Berkshire Hathaway Travel Protection. “We are completely alleviating that concern.”
By becoming the first travel insurer to implement MasterCard Send™ into its claims processing system, BHTP is responding to a longstanding consumer frustration with the hassles and delays of travel-insurance claim payments, and reiterating its commitment to a consumer-centric claims-payment approach and an improved travel-insurance experience.
The company uses technology to monitor customers’ travel plans. When certain travel mishaps occur, BHTP can start a claim or provide assistance and pay claims without customers having to do anything. Travelers can use the BHTP mobile app to quickly send any documentation that may be needed, and track the claim payment.
“We are excited to be working with MasterCard to help provide our customers with a new, more convenient way to receive claim payments,” Sivley added. “Our integration with MasterCard illustrates the innovative ways we are changing travel insurance, and our commitment to providing our travelers with the very best claims experience.”
“When the unforeseen occurs, consumers should have the peace of mind knowing they have quick access to their funds. That’s the premise that we’ve built MasterCard Send™ upon and why we believe it makes sense for the travel insurance industry,” said Barbara King, Group Head, Personal Payment Solutions, MasterCard. “The innovative ways businesses like Berkshire Hathaway Travel Protection are leveraging our platform to advance their services and improve the consumer’s experience is proof positive that we’ve delivered on our objective.”
BHTP remains committed to being a standout in the travel-insurance industry, delivering the services and solutions that meet customers’ travel needs and reduce their frustrations. In fact, last year, the company launched AirCare, a flight protection insurance policy that pays passengers for air-travel inconveniences like delays, cancellations, extended tarmac delays, lost/delayed baggage and missed connections.
MasterCard Send™ is a first-of-its-kind personal payments service that facilitates the delivery of funds quickly and securely to consumers domestically and internationally. Through a single connection to the MasterCard Send™ platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers whether they are banked or unbanked, and located domestically or abroad. By digitizing personal payments that are typically handled via cash or check, MasterCard is providing greater convenience, choice and security to both payment senders and receivers in developed and developing markets.
About Berkshire Hathaway Travel Protection
Berkshire Hathaway Travel Protection is the marketing name for the travel protection and services of Berkshire Hathaway Specialty Concierge, LLC, a subsidiary of Berkshire Hathaway Specialty Insurance Company, part of the National Indemnity group of insurance companies. Berkshire Hathaway Specialty Concierge, LLC provides personal and emergency assistance services and liability-protection products to customers. Our hallmarks are a dedication to the highest levels of customer service, family-centric work environment, and commitment to individual growth and abilities. We truly believe our direction is guided by our values. Berkshire Hathaway Travel Protection created AirCare™ flight protection and other innovative products, and backs them with high-tech enhancements and industry-leading customer service. AirCare™ will be written on the paper of National Fire & Marine Insurance Company. Visit bhtp.com for more information.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
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