NEEDHAM, MA--(Marketwired - Jan 23, 2014) - Enservio, Inc. (www.enservio.com) today announced that Paybefore has selected the Enservio ReStore Payments™ solution as a 2014 Paybefore Awards winner in the Best Benefits Delivery Program category. For eight years, Paybefore Awards has recognized excellence in the worldwide prepaid, mobile and emerging payments industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives. Enservio is the leading provider of contents inventory, valuation, and payment services for property insurers, ensuring carriers deliver a high customer satisfaction to their insureds.
"An industry is only as good as its innovators. This year's Paybefore Awards have demonstrated that prepaid, emerging and mobile payments companies always find new ways to address consumer, government and business needs," said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. "We are proud to recognize Enservio's ReStore Payments solution as a contributor to advancing the industry."
The ReStore Payments solution includes ReStore Card®, a MasterCard debit card pre-loaded with claim settlement funds to immediately address losses in personal property. Debit cards provide an expedient payment solution, giving claimants access to their funds up to 3X faster than a traditional paper check. ReStore Card covers all types of auto, property, liability and other claim settlements.
Policyholders can begin using the ReStore Card immediately to make purchases everywhere Debit MasterCard is accepted, transfer funds to their bank account, and withdraw cash from participating ATMs, with no fee. The card eliminates the need for policyholders to travel to the bank and wait the one- to three-day period for a check to clear. Insureds also enjoy additional cash back for in-store purchases, discounts online at their proprietary shopping mall, extended warranties and contractor referral services with the Enservio card.
A record number of entries from around the world entered this year's competition. A panel of five industry experts who served as judges selected ReStore Payments.
"The companies and programs recognized in the 2014 Paybefore Awards are great of examples of what can be accomplished when innovators apply thoughtfulness and payments technology to address real-world needs," added Marilyn Bochicchio, Paybefore's CEO.
Insurers offering card payment options to their customers can use the ReStore Payments solution to improve operational efficiencies while enhancing the customer experience with:
- Reduced processing costs of up to 60% per transaction compared to traditional paper check payments
- Comprehensive reporting and analytics
- Proven retention benefits, including optional carrier branding for the card and associated web sites
- Easy integration with existing claims payment systems
ReStore Payments now will vie for Best-in-Category distinction, which will be announced during the Paybefore Awards ceremony on March 4 at the All Payments Expo. For the second consecutive year, visitors to Paybefore.com will have a chance to vote on Best in Category. The outcome of this vote (counted as one-sixth of the total) will be combined with the five judges' picks to determine Best-in-Category honorees.
About Paybefore
Paybefore is the leading information provider to prepaid, mobile and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore's family of industry publications includes: Paybefore.com; Pay News™; Pay Gov™; Pay Week™; Pay Op-Ed™; Pay Magazine™, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global payments industry; and the only industry directory, Pay Connect™ buyer's guide, available online and in print. Visit us at www.paybefore.com.
About Enservio
Enservio® works on the biggest challenge in property insurance -- what's inside. We provide a complete suite of software and service solutions to help property insurance carriers price their policies correctly, settle their contents claims quickly and accurately, pay their claims, and help policyholders get their stuff back. Founded in 2004, we are headquartered in Needham, MA, with offices and professional staff across the United States. Enservio is a strategic partner of the National Insurance Crime Bureau (NICB) in their continued fight against insurance fraud. For additional information, please visit the company's web site www.enservio.com or call 888.567.7557. Connect with Enservio via LinkedIn (http://us.linkedin.com/company/enservio), Twitter (https://twitter.com/enservio), and Facebook (https://www.facebook.com/enservio).
Enservio and ReStore Card are registered trademarks and ReStore Payments is a trademark of Enservio, Inc. MasterCard is a registered trademark of MasterCard International incorporated. All other trademarks referenced are the property of their respective holders.
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