SOURCE: Restore Payment Solutions, Inc.

December 20, 2010 09:02 ET

Restore Payment Solutions, Inc. Enhances Website for Insurance Carriers Seeking to Increase the Efficiency of Claims Payment Process

Restore Payment Platform Is the Insurance Industry's Only Comprehensive, Turn-Key Platform for the Efficient, Convenient Payment of Claims

NEEDHAM, MA--(Marketwire - December 20, 2010) - Restore Payment Solutions, Inc. today announced enhancements to its website for insurance carriers seeking to increase the efficiency of their claims payment processes. Restore Payment Solutions, Inc. is the provider of the Restore Payment Platform (RPP), the insurance industry's only comprehensive, turn-key claim payment platform. The RPP includes the ReStore Card™, a debit card that delivers insureds faster, more convenient access to settlement funds, and the ReStore Mall™, a closed, proprietary shopping environment that provides preferred-pricing and exclusive discounts at nationally recognized retailers.

The RPP saves carriers as much as $20 in operational costs per claim processed by combining a debit card structure built from the ground up with insurance considerations in mind with Electronic Funds Transfer (EFT) and paper check capabilities. The RPP works for multiple lines of business, including property, auto, liability and worker's compensation while leveraging existing infrastructure, thereby eliminating the need for integration or expenditure of IT resources.

"Carrier adoption of our Restore Payment Platform is on the rise, and we're receiving an increasing volume of inquires from carrier partners," said Jon McNeill, CEO of Restore Payment Solutions, Inc. "This site provides a convenient online channel for communicating with the industry as a whole about our claims payment solutions and the cost and time savings they provide to carriers and insureds."

ReStore Card benefits include:

  • Purchasing flexibility: Insureds can use the card online and in stores to enjoy proprietary discounts on goods of all kinds.
  • Payment flexibility: Insured can execute an EFT transfer of funds to the bank account of their choice in any amount up to the full value of the card. They can also withdraw cash from ATMs.
  • User flexibility: Supplements can be added directly on to the ReStore Card with no need to reissue.

For more information, please visit www.restorepayments.com.

About Restore Payment Solutions, Inc.
Restore Payment Solutions, Inc. is the provider of the Restore Payment Platform (RPP), the insurance industry's only comprehensive, turn-key claim payment platform. The RPP includes the ReStore Card™, a debit card that delivers insureds faster, more convenient access to settlement funds, and the ReStore Mall™, a closed, proprietary shopping environment that provides preferred-pricing and exclusive discounts at nationally recognized retailers.

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