Brit is launching its Direct Pay service within the US.
Partnering with Visa, Mastercard, and Vitesse, Brit says the service offers end customers the ability to receive claims payments securely and instantly to their bank card.
Sheel Sawhney, group head of claims and operation at Brit, said: “Direct Pay demonstrates how the innovative application of technology can play a transformative role in the claims process and is a key component in our vision for the future of claims.”
He added: “We’re also pleased that in 2022 the foundational technology and concept for Direct Pay is expected to be deployed more widely as a Future of Lloyd’s solution for the market.”
Brit has made a few headlines in recent weeks, having recruited Tim Hodgkins in February as its new cyber underwriting consultant, while appointing Cornell Fox and Masa Kitade to its insurance-linked investment management platform Sussex Capital. The company also appointed a new chief data officer in January while bolstering its property facilities and NA open market property teams.
Things now appear to be heading in the right direction for Brit, which returned to profit last year as its combined ratios fell to 95.7%.
