As Hurricane Season Approaches – Insurance Companies Are Relying on InsurCard for Disaster Relief

PHILADELPHIA--(BUSINESS WIRE)-- The disasters created by these storms are why insurance companies need to be ready BEFORE disaster strikes and be able to react immediately. Victims cannot afford to wait...and now they don't have to. InsurCard can have them covered.

“We believe providing a branded card to our policyholders when they are in need will greatly simplify a very difficult situation for them. The catastrophic relief card from InsurCard gives our policyholders immediate access to make purchases and simplifies their lives when they are in turmoil,” said Ben Bondroff, Vice President – First Insurance Company of Hawaii.

The InsurCard Visa® Prepaid Card is the solution:

In a catastrophe, adjusters in field offices receive an allowance of cards for the number of claims they plan to evaluate that day. Cards are inactive and have no value until authorized by the insurer. As soon as possible, the adjuster meets the policyholder at the scene, makes an initial claim evaluation, and determines the amount to be paid for immediate needs. The adjuster activates the card on the spot, either by phone or via the web. Once activated, InsurCard provides the policyholder with the necessary funds to meet critical needs for food, shelter, and emergency repairs. As the recovery process continues, the card may be reloaded to pay for property damage and additional living expenses.

InsurCard is so simple, so practical and so economical that you have to wonder why it wasn't always like this.

Consider the advantages of InsurCard:

1. Ready-to-use turnkey program designed for fast response in case of catastrophes. Cards are kept on-hand so funds can be dispersed rapidly. Cards are activated real-time in the field so funds are immediately accessible by insureds without having to wait for checks to clear.

2. Highly secure. Because each card is linked to a specific policyholder and claim, cards are safe enough to be used by outside adjusters, even independents. And the insurer controls the payment and activation of cards. Cards have no value until the insurer authorizes payment.

3. More cost effective than checks. Studies show it costs insurers $10 to $14 per claim check issued. InsurCard not only costs less, it can be reloaded with additional payments to complete a claim for even greater savings.

4. InsurCard provides numerous advantages for policyholders. Immediate delivery of benefits, No waiting for checks to arrive or to clear, No more check-cashing fees, And InsurCard customer service including 24/7 bilingual phone support and IVR, and a cardholder website for fund management.

InsurCard is the brainchild of J. Robert Mendte of Lansdale, Pa. - a seasoned pro with more than 30 years experience as an insurance operations executive and management consultant. According to Mendte, "No state prohibits the use of a properly designed prepaid card program for the payment of insurance claims."

About InsurCard

InsurCard is a wholly owned subsidiary of Service Network Design LLC. As specialists in insurance operations and systems, SND designed InsurCard to meet the stringent requirements of the insurance industry. For more information about InsurCard visit www.insurcard.com or call 1-800-708-9887.

About The Bancorp Bank

The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.

The InsurCard Visa Prepaid Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.

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The Bancorp Bank, Investor Relations

Andres Viroslav

1-215-861-7990

[email protected]

or

InsurCard

J. Robert Mendte

1-800-708-9887

[email protected]

Source: InsurCard