AXA Global Healthcare Launches Virtual Payment Card
Leading insurer AXA’s health insurance division – Global Healthcare – has started rolling out its new virtual healthcare payment cards.
AXA Global Healthcare’s latest product aims to simplify the claims process for customers, with a recent survey revealing time and administration are the biggest obstacles to making health insurance claims.
AXA: Simplifying health insurance claims
AXA Global Healthcare’s new healthcare payment card marks the first step on its journey to providing its members with digital wallets, where they can easily store and access what they need – when they need to use their international health insurance policy.
As a virtual healthcare payment card, it can be added to member’s digital wallets, whether that be on Apple Pay or Google Pay, as the leading mobile wallet providers.
This enables members to pay for eligible outpatient treatment via mobile, such as over-the-counter prescriptions, without using their own funds or having to file a lengthy, time-consuming claim.
Indeed, research across AXA Global Healthcare’s memberships has found that most claims submitted internationally are of substantially low value, and are self-paid. This means every time a member makes a low-paid purchase, they have to submit a claim – a cumbersome process AXA’s members do not enjoy completing.
Per the research, consumers cited time and administrative work as key points of friction when completing a claim.
Resolving insurance claim pain points
Therefore, AXA Global Healthcare’s new payment card has been designed to resolve this pain point for members by simplifying the process once they’ve received outpatient treatment.
The card can be used to pay for treatment at any healthcare provider worldwide that offers a contactless VISA payment option, in addition to the 1.9 million providers within AXA - Global Healthcare’s international network.
Andy Edwards, Managing Director at AXA - Global Healthcare comments: “We’re pleased to be launching our new healthcare payment card as the first step to giving our members a wallet of services from which they can access their international private medical insurance policy.
“Building the resilience of our offerings is key to AXA - Global Healthcare’s ability to provide enhanced propositions for customers and is central to our wider strategic growth plans for the business.
“By listening to our customers and innovating to resolve their challenges, our aim as a business is to retain and strengthen our customer relationships and build new ones through our reputation of providing seamless, straightforward insurance products for global markets.”
The card’s initial rollout has invited selected corporate groups to register and generate a virtual card. Once the card is generated and active, it can be added to a digital wallet directly, with no need to contact AXA Global Healthcare.
The only administrative work members must do is upload an invoice to their AXA - Global Healthcare Card app.
Now the rollout is in its early stages, AXA Global Healthcare can begin measuring the success of the service and make any refinements to its offering ahead of a full launch to its wider customer base.
**************
Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024.
**************
FinTech Magazine is a BizClik brand.
