Auto, property, and general liability insureds of The Travelers Companies, Inc., now can receive claim payments through the digital payments platform PayPal, the insurer has announced.
Travelers’ link to PayPal comes through Global Digital Disbursements, a service provided by Global Transaction Services at Bank of America Merrill Lynch.
“The sooner our claimants are paid, the sooner they can recover from a loss and get their lives back to normal – PayPal will help make that happen as quickly as possible,” said Ellen Rizzo, senior vice president of claim at Travelers. “This is the natural evolution of our claim payment processes, and it is one more way we’re making the entire claim experience easier.”
PayPal is a digital payments platform that provides users with access to financial services including a digital wallet to send or receive money as well as make purchases anywhere PayPal is accepted. By distributing claims through PayPal, funds are usually delivered the same day that payment is issued by Travelers. Travelers’ workers’ compensation claimants are expected to be eligible to receive payments via PayPal in 2020.
Learn more: www.travelers.com/claims.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].