Getaway Day: Money Now, Or Later? Claims Payments And The Customer Experience

So when do you want your money -- now or later?
So when do you want your money — now or later?

Do you want your money now or later?

That sounds like a simple question – a really simple question. But it’s not so simple when you’re traveling, and the money in question is the money from a travel-insurance claim.

So let’s rephrase that question: You’re traveling, and your luggage was lost, and you had to shell out multiple hundreds of dollars for replacement stuff, and you couldn’t put it all on a credit card, and your ability to get more cash is somewhat limited. Now, do you want your money now or later?

We thought so – and that’s the impetus behind the multi-channel payment platform we call BHTP Burst™.

“Multi-channel payment platform”? That sounds like marketing-speak. Well, it is, but it’s marketing-speak with a purpose. And the purpose is to let travelers know they have options when it comes to getting their claims paid.

That’s not how it is elsewhere, or how it’s been in general. The overwhelming majority of travel-insurance claims get paid in a very old-fashioned way. After a claim is approved, instructions go to the insurance company’s accounting department to pay claim number x in amount y, at which point the accounting department prints off a check on paper, puts it in an envelope, runs it through a postage meter, delivers it to a mail carrier, and lets the U.S. Postal Service take it from there.

BHTP_DistressedLogo_Circle_PMSWhen you look at this decades-old procedure, it seems to have missed a couple of updates. Like ATMs, electronic funds transfers, mobile banking, smartphone apps, PayPal, and debit cards. Not to mention really out-there stuff like Bitcoin. In fact, the only things this payment process seems to be missing are green eyeshades and quill pens.

Enter BHTP Burst. Burst was designed for travelers – and not just how they travel, but how they use money when they travel. Basically, it’s all about getting claims paid as quickly as possible and then getting that money back to travelers as close to instantly as the modern financial system allows, to pay bills, replace missing items, or just compensate people for inconveniences that are no fault of their own.

More specifically, Burst lets travelers decide how they want to be paid, and whether they want their money fast or slow. If travelers need money fast, they can go to their account on or the Settings area of the BHTP mobile app and choose to be paid into a specified account through a debit card.

If they choose this method, which leverages MasterCard’s Send technology through an exclusive arrangement with the financial-services giant, travelers can be paid in seconds (depending on the processing speed of their financial institution).

However, while that’s the quickest payment method BHTP Burst offers, it’s not the only speedy way of getting paid. Travelers can also choose to be paid into a PayPal account – a very popular method, and one that gets money to travelers in times ranging from a few minutes to a few hours – or have their claims payments transferred into a checking account via Electronic Funds Transfer. EFT payments can usually be processed in a day or so.

And if a traveler wants a paper check sent to their mailbox, yes, Burst can do that, too.

The upshot of all these options? If you’re a traveler, and you buy BHTP travel insurance, you can match your claims-payment method to how and where you travel. And if you buy AirCare from BHTP, which pays you for common flight mishaps, it’s even possible to have a claim filed for you, and then have that claim paid and the money deposited in your account, before you even know there’s a problem.

“Everything about BHTP Burst and the entire BHTP platform was designed for situations like these,” said Brad Rutta, BHTP’s VP of marketing and communication. “It’s all about the customer experience – getting claims payments into travelers’ hands the way they want, not the way an insurance company tells them it has to be.

“When we talk about BHTP being revolutionary, this is what we mean.”


Author: Kit Kiefer

As content engineer for Berkshire Hathaway Travel Protection, I have one of the world's great jobs. Not only do I get to write about travel, but I get to edit the work of fantastically talented contributors from around the world. Plus I get all the maple syrup I can drink.