This National Health Coverage Day, we are discussing health insurance payout solutions. As an insurance provider, navigating customer safety as well as profitability can be a difficult balancing act. With over 8 million people holding their own private health insurance policy in the UK (equipsme.com), managing payouts can be a logistic nightmare.

Like many insurance types, health insurance payouts can be affected by your customers’ emotional and financial stresses. Our technological innovations allow our health insurance clients to focus on supporting their customers, instead of reconciling and monitoring payments. We provide health insurance providers with safe, reliable and trackable payout solutions.

How could my health insurance company use Crunch for its insurance payout solutions?

Generally speaking, there are two ways a health insurance provider could utilise Crunch:

Payout Solutions

The first would be for the payout of insurance policies directly. Crunch provides your company with bespoke branded prepaid cards, which act just like a standard payment card. The difference with Crunch is the prepaid nature of our service. Only the available balance on the card can be spent; meaning no overdrafts, interest or unauthorised purchases. Crunch’s platform allows for automated or one-off loading, which can be fully tracked on both sides of the interaction. 

Whether your company manages private healthcare, cash plans or both; Crunch provides a solution for you. Cash plans that involve the customer as the intermediary greatly benefit from a solution like Crunch. This is due to its user app, and ability to be used both online and offline for payments. Customers can monitor their payouts for smaller health insurance policy purchases, such as dental appointments. Being able to keep track of spending not only benefits the customer, it also reduces your customer service time. 

Speaking of customer service, did you know Crunch health insurance payout solutions come with a customer service team? As well as innovating in our field, we also provide your customers with 24/7 assistance with their cards.

Rewards and Incentives

Alternatively, Crunch can be used within the health insurance payout for customer rewards and incentives. If a customer is loyal to your company, and pays towards their health insurance 6-months in a row for example. Why purchase another brand’s gift card, when you can offer your own gift card that can be used everywhere?

Not only is Crunch’s reward card a more flexible option, but your cards can also be processed faster. Because of this, there is no need to hold stock of your cards, making for a hassle-free payout solution.

‘Crunch’ the numbers with us.

Want to find out about our packages, and whether Crunch could revolutionise your health insurance customer payout solutions? Get in touch with our passionate team today!