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Insurance payouts
The TransSend Prepaid Insurance Payout Card enables insurance companies to release funds onto a card rather than supplying a cheque. For the consumer this means they have immediate access to the funds and the potential to choose the supplier. They can choose a replacement product that is higher in value by adding their own money. The insurance company benefits by earning interest on the delayed use of balances on the card, reduced administration costs and the elimination of the replacement goods handling division.