BANCORP BANK PARTNERS TO OFFER INSURCARD TO FRANKLIN MUTUAL CLAIMANTS

Wilmington, DE-based, $1.7 billion-asset The Bancorp Bank subsidiary The Bancorp Bank Payment Solutions Group is partnering with InsurCard, a subsidiary of Service Network Design, to provide Branchville, NJ-based Franklin Mutual Insurance with the InsurCard Visa Prepaid Card (InsurCard). The InsurCard enables claims adjusters to make initial claims valuations and load that dollar amount via phone or Internet to InsurCard. InsurCard then activates a card with that value, and the claims adjuster gives the insured the debit card on the spot. Franklin Mutual said, “InsurCard enables access to critical needs such as food, shelter, and emergency repairs. As the recovery process continues, the card can be reloaded.” The Bancorp Bank Senior Vice President John Barbella said, “We believe that prepaid cards will revolutionize the way insurers make payments as insurers look for ways to control payments and drive cost savings while providing enhanced customer care.”