The agreement will give the insurance agency an opportunity to significantly simplify the lives of its customers through the use of a NetSpend prepaid debit card. The General, through its affiliated insurance companies, has been writing automobile insurance online and in many states throughout the country since 1963.
A safer alternative to cash and designed to be a less expensive alternative to a traditional bank account for underbanked consumers, NetSpend prepaid debit cards produce significant benefits for consumers and the insurance companies that offer them.
Through their NetSpend card, consumers save time by paying their auto insurance premiums electronically in the safety and security of their own home through online bill pay-eliminating the need for money orders or wire transfers. It also can save them money in two ways: first, they avoid the fees for money orders or wire transfers and, where available, they can also receive a discount by paying electronically.
For The General and other non-standard auto providers, NetSpend prepaid debit cards can help increase their premium income through higher customer retention.
Dan Henry, CEO of NetSpend, said: â€œOur internal data shows that many of our current customers are already using their NetSpend cards to pay their auto insurance premiums-it's one of the top ten payment categories every month.
â€œThe time and money that NetSpend prepaid debit cards saves these consumers is truly remarkable. The General is going to be a fantastic partner in offering this solution to their policyholders.â€
How far the deal benefits NetSpend?
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