Client

IBU is a brandable travel insurance service and platform configured to meet your needs. The platform takes care of everything from applications and underwriting, call centres and claims, to administration and financial reporting, and is backed by Hollard, the globally renowned insurer. IBU’s digital first platform allows for companies to white-brand their technology to provide leading edge insurance right out of the box.

Problem

When something goes wrong customers want to know that their insurance company can help them 24/7. IBU estimated it cost them $100-$150 in administrative time and effort to process a claim, as well as taking 2-5 days using their traditional processes.  It wasn’t the best customer experience, and at scale became an administrative bottleneck.  How could IBU create the fastest and easiest claims process for their customers?

Solution

By integrating Split directly into their claims forms to capture and verify a customers bank account details, they were able to automate the payment of claims with 100% accuracy.  Once approved, claims were paid and settled within 24hours.  Split was able to give IBU industry-leading claims payouts, giving them a competitive edge in customer satisfaction, and savings of over 300% per transaction.