The Bancorp Bank is issuing a prepaid card to deliver disaster relief to ACE Commercial Risk Services clients:
“The Bancorp Bank And ACE Commercial Risk Services® Launch Prepaid Card To Provide Quick Financial Relief To Customers Impacted By Natural Disasters”
”The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), has joined with ACE Commercial Risk Services®, part of the ACE Group, to launch a prepaid card that can quickly deliver financial benefits to ACE Commercial Risk Services’ customers impacted by natural disasters.
ACE Commercial Risk Services, which is dedicated to providing specialty insurance products and solutions to small businesses in North America, has traditionally responded to the specialized needs of its clients by offering unique solutions. The Declared Disaster Plan Claim Prepaid MasterCard ® is designed to offer immediate assistance to homeowners in acute need due to natural disasters. When homeowners purchase an ACE Commercial Risk Services’ Declared Disaster Protection policy, they are issued a prepaid MasterCard. In the event of a disaster, all a customer needs to do is to report his or her claim, and ACE instructs the bank to transfer appropriate claim funds to their MasterCard.”
ACE perceives this as a product that will help differentiate them in the disaster recovery market:
“Speaking on behalf of ACE Commercial Risk Services, Joyce Van Ravenswaay, Senior Vice President of Direct Markets, said, ’We’re pleased to collaborate with Bancorp to extend the availability of our Declared Disaster Plan Claim Card. We understand the need to offer compelling, efficient and cost-effective solutions to meet the needs of our customers and distribution partners. This offering will enable ACE customers to immediately access their claim funds following very difficult circumstances after a natural disaster.’”
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