"Payr is disrupting the cost containment industry."
Managing Director, Leading Insurance Underwriter
Payr is a global payment platform developed by Traveller Assist, a leading provider of medical assistance and cost containment services.
As insurance technology reshapes an entire industry, it's creating a more competitive market, forcing insurers to step-up their game, and assistance providers to reduce their fees. As an early adopter of financial technology, blockchain and artificial intelligence, we have embraced these changes to create the very first fully integrated insurtech solution for the medical assistance and cost containment industry.
We're a fully remote team spread across three-countries, with ground-agents in 50+ countries, and 5,000+ hospitals in our network. Through smart-technology, we facilitate medical bill payments and travel related expenses in 75+ currencies across 120+ countries. Payr holds funds in each country we send to, meaning that payments can be paid faster than ever before. No money crosses any borders. Both payers and providers benefit.
During beta testing (May to Oct, 2018) - Payr partnered with one insurance underwriter, providing cost containment for three travel insurance brands - and successfully facilitated payments for over $1 million USD in medical bills and travel expenses, in 14-currencies, across 21-countries.
"Payr has become an essential link for both payer and provider."
Global Network Director, Employee Health Benefits Provider
How it all started
Two clients, thousands of miles apart, with seemingly no connection. An airline client in Australia (providing medical assistance for their staff in Brazil) - and a travel insurance client in Brazil (providing assistance for their travellers in Australia). From our Australian client we were paid in Australian dollars. From our Brazilian client, in Brazilian reals. The problem? Each time we transferred BRL into AUD and vice versa, we were charged extortionate bank fees.
To avoid this we devised a plan. We paid our Australian client's medical expenses in Brazil, from our Brazillian account, in BRL - and we paid our Brazilian client's medical bills in Australia, from our Australian account in AUD. No money crossed any borders, payment was instant and we weren't charged a single cent in hidden bank fees. This was a eureka 🙌 moment.
Hello Payr. Goodbye fees.