Berkshire Hathaway Travel Protection

Spreedly keeps BHTP customers moving

Berkshire Hathaway Travel Protection (BHTP) offers travel insurance and trip protection to U.S. customers vacationing around the world. Since 2014, the company has been filling the financial gap of trust in the travel industry. This includes addressing the distrust that some consumers may have toward insurance companies, including the widespread misunderstanding that they are seeking reasons not to pay claims. That is the exact opposite at BHTP where the strategic focus of the business is ‘claims is our product.’ In addition to protecting their travel, BHTP's customers demand a seamless payment experience for payments and reimbursements.

Learn more about BHTP.

BHTP leverages Spreedly’s Payments Orchestration platform as part of their payments stack which enables the secure storage of payment details. It also allows the payments team at BHTP to offer their customers any number of ways to pay with easy integration to the right mix of payment service providers.

“[Customers] may want to pay for their policy one way, and then may want to get reimbursed at claim time another way. There are so many different methods now to either pay for your travel insurance or to be reimbursed that keep surfacing, with more and more immediate payment mechanisms entering the market compared to the traditional credit cards or wire transfers.””

Dean Sivley, President at BHTP

Optimizing the payments stack makes for a better customer experience 

“One of the important things in [travel] is the payments experience. You’re going through your shopping, you’re trying to select a flight, maybe you’re trying to select a hotel, and then you proceed to that final moment where you’re going ahead and trying to make a payment for your final travel arrangements. That’s a big moment; it needs to happen seamlessly and so does the insurance purchase to protect your trip.  The last thing you need is uncertainty if your payment doesn’t go as planned.”

Dean Sivley, President at BHTP

Working with Spreedly, BHTP can optimize their payments stack to best fit their customer’s needs when checking out. Doing so decreases the shopping cart abandonment rate – a problem that costs e-commerce businesses roughly $18 billion in yearly sales. The reality of today’s payments landscape is that customers have evolved to favor digital payments. When a customer is ready to buy, BHTP is equipped to process their transaction successfully with Payments Orchestration. 

Payments are “taking off” in the travel industry

Optimizing the payments experience goes beyond just what the customer sees. Operating in the travel and insurance industries requires organizations to continuously evaluate payment innovations and improve the experience for their customers. All of which can be a distraction for industry leaders like BHTP who also need to focus on their core offerings.

“When it comes time for payment, it’s expected that that payment happens quickly and in a way that [you] want. That’s one of the things that Spreedly does for us, is make it so that we can focus on the enablement of that process and the positive impact on the customer experience, and not have to worry about the actual payment itself.”

Dean Sivley, President at BHTP