Claim settlement is slow, manual, and hard to control
Insurance platforms manage high volumes of claims across multiple suppliers, countries, currencies, and settlement methods.
- Slow bank transfers and invoice-based processes delay settlement
- Policyholders face out-of-pocket expenses while waiting for reimbursement
- Manual payment processes create operational overhead for insurers and TPAs
- Limited visibility once funds leave the platform
- Ad-hoc supplier sourcing introduces inefficiency and leakage
- Fraud risk increases when payment controls are weak or absent
Cards are redefining how insurance platforms settle claims. Thredd enables insurance platforms to replace slow, manual settlement with instant virtual cards, giving policyholders faster access to funds and giving insurers greater control over every payment.
Greater control over claim payments
Faster claim settlement
Issue virtual cards instantly when a claim is approved, so policyholders and suppliers can access funds without waiting on manual settlement cycles.
No out-of-pocket expenses
Funds are available to the policyholder or supplier at the point of need, eliminating reimbursement delays and the risk of claimants covering costs upfront.
Fraud prevention built in
Lock cards to specific merchants, MCC codes, amounts, and time windows so every payment stays within policy terms. Controls are configurable per card or per programme.
Real-time payment visibility
Access authorisation data at the transaction and claim level as payments happen, making it easier to monitor spend, manage funds, and support reconciliation.
Simpler policyholder experience
Virtual cards can be provisioned directly to Apple or Google Wallet via email link, with no app download required. Policyholders can access funds quickly, without needing to register or onboard with the platform.
Reduced operational effort
Automate payments to on- and off-panel suppliers without losing control. Card-level data makes reconciliation faster and reduces manual intervention across claims administration.
Improve insurance claim settlement with confidence
Speak to Thredd about building a card-based settlement programme for your clients.
