IBU is a brandable travel insurance service and platform configured to meet client needs. The platform manages on your behalf applications and underwriting, call centres and claims, plus administration and financial reporting. Insured By Us is backed by Hollard, the globally renowned insurance company. IBU’s digital-first platform offers white-labelled technology, to provide leading edge insurance right out of the box.

Opportunity

When something goes wrong customers want to know that their insurance company can help them 24/7. IBU estimated costs of $100-$150 in administrative time and effort to process a claim, plus two to five days for individual claim processes to complete. IBU believed there was a better customer experience on offer, and that scale became an administrative bottleneck. How could IBU create a fast and easy claims process for their customers?

Solution

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