An Island insurance firm is set to become the first to pay medical claims direct to customers’ bank accounts.

BF&M are to officially launch the new service on Monday — which will cut waiting times for cash and avoid trips to the bank to deposit cheques.

BF&M vice-president of underwriting and claims Holly Flook said: “Since BF& started providing health insurance, we’ve always cut cheques to our members and as time goes by, that’s not the greatest way to do business.

“One of BF&M’s core philosophies is providing superior customer service and was one of the drivers for this.”

She added: “It also reduces paperwork, so it’s green and it also reduces administration expenses as well.”

Ms Flook said the firm carried out regular customer satisfaction surveys — and it was clear that they wanted more use of technology and web-based transactions.

She added: “We certainly hope our members will like it.

“Everybody is really busy these days — it helps people save time and get their reimbursements faster and there will be no more standing in line at the bank.”

Ms Flook said that the direct payment scheme was piloted among BF&M staff first to ensure there were no glitches in the system — and that staff had backed the move to paperless payment.

She added that the latest innovation was just one of several being planned over the next few months aimed at making life easier for customers — although she declined to discuss details.

Ms Flook said: “We have a few other value-added services we will be launching in the spring and summer.

“They’re all about providing better customer service — that’s what drives a lot of our activity.

“We want to be able to empower our members so they can self-direct in terms of lifestyle and get the education they need to make informed decisions.

“We want them to be active participants in their healthcare, whether they are financing it or receiving it and we want people to be able to give people the tools to do that.”

And she added: “We want to do our part in the industry to educate our clients and ensure that superior customer service experience.”

BF&M notched up another first for the Island industry earlier this year when it introduced a 24/7 roadside assistance scheme for drivers and riders.

Run in partnership with established town firm Lowe’s, the service was designed to bring peace of mind for people who suffer breakdowns or other problems on the road.

The add-on to normal motor and bike insurance policies meant that subscribers save around 50 percent on the normal emergency call-out charge. The scheme means people who get stuck at the roadside with common problems, including flat tyres and batteries, running out of gas or even locking themselves out of their vehicles can call a single number for assistance.

The service — which provides two free call-outs a year to policy holders — costs $75 a year for cars and $50 a year for motorcycles.