LAS launches household claims ‘smart card’

Birmingham based claims management company LAS is set to launch a pre-paid debit card scheme this month.

The card will be offered to customers as an option when the policy holder has advised that they would like to cash settle valid claims.

LAS chief executive Darren Cooper said: “The card acts like a debit card. Having assessed and settled the claim at an agreed amount, the loss adjuster or surveyor will charge the card up automatically for the customer, who can then use it as he or she wishes until the money on the card is used up. Alternatively, we can ‘lock the card down’ so it can only be used at approved or preferred retail or trade partners.”

He added: “The advantage over cash settlement is that the LAS smart card is ready to use within minutes, whereas it often takes over a week for customers to clear a cheque into their bank accounts from the time a claim is authorised on-site.”

Cooper also said the smart card could be used to pay accommodation bills for families who needed to move out of their homes. “We can load the card every evening to match the cost of accommodation and subsistence, giving the customer added peace of mind.

“We are talking to several leading insurers about the smart card, and we are not surprised that there is a huge amount of interest.”