Insurance - Aventura, Florida, United States
About 80% of all travel medical insurance claims are considered "small claims" (<$2K), with most claims in the $300 - $800 range.· For Indemnity Insurance Payers, the administrative expense of servicing "small claims" is disproportionally high, at times exceeding the actual cost of the claim.· For Providers, traditional payment cycles of 60 to 120 days, result in higher prices and tarnished payer reputation.· Insurers and TPAs get much needed innovation and automation to replace labor-intensive practices.· Providers receive much-deserved payment within 72 hours.
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