Merging of One Inc's Operations with Verisk's FAST Technology Platform
In a significant move towards digital transformation, One Inc's PremiumPay® solution has integrated with Verisk's FAST (Flexible Architecture, Simplified Technology) platform. This partnership offers life insurance carriers numerous benefits, including streamlined operations, efficiency gains, enhanced policyholder experiences, and a future-ready, scalable solution.
Key Benefits of the Integration ----------------------------------
**Streamlined Operations and Digital Transformation:** By integrating PremiumPay®'s real-time payment capabilities with Verisk's FAST platform, life insurers can optimise operations across the entire policy lifecycle. This integration simplifies inbound premium payments, improves transaction speeds, and supports insurers' digital modernisation goals.
**Efficiency Gains:** By leveraging a pre-built payment integration, life insurers can reduce manual and paper-based billing processes, automate premium collections, and improve internal processing workflows. This optimises carrier efficiency by cutting costs and scaling operations without corresponding increases in overhead.
**Enhanced Policyholder Experience:** Policyholders gain access to a wider range of flexible and secure digital payment options, including popular platforms such as Venmo and PayPal, alongside traditional payment methods. This flexibility makes premium payments easier and more convenient, elevating customer satisfaction and engagement.
**Future-Ready and Scalable Solution:** The unified payment experience created by this integration anticipates evolving industry needs by providing carriers with robust, scalable tools to handle growing customer bases and increasingly digital demands, reinforcing long-term business agility.
New Client and Collaboration ----------------------------
GoAuto Insurance, a USA-based insurance provider, has selected One Inc's ClaimsPay® and PremiumPay® products for a fully integrated and digitized policyholder payment experience. The integration between One Inc's solutions and GoAuto is expected to help the company achieve greater speed, flexibility, and operational efficiency.
Ian Drysdale, CEO of One Inc, stated that the integration offers a critical path to unlocking value from digital payments tailored to the needs of life insurers. Saurabh Khemka, co-president of underwriting solutions at Verisk, also emphasised that the integration helps life insurers achieve greater speed, flexibility, and operational efficiency.
Fighting Insurance Fraud with Agile Tech
Steve Paton, Head of Anti-Fraud Services (EU), Verisk Claims, suggests that agile technology is the key to fighting insurance fraud. With more than half a million cases of insurance fraud reported, the need for modern, efficient, and adaptable solutions is paramount.
The integration between One Inc's PremiumPay® for inbound payment capabilities and FAST's configurable system architecture is a significant step towards this goal, offering life carriers a modern payment experience and enhancing communication with policyholders.
GoAuto's digitalisation journey has been enabled through this partnership, and One Inc has launched a pre-built payment integration for Verisk's FAST platform. The new integration aims to help life carriers accelerate their digital transformation, positioning them effectively within a digitized insurance ecosystem.
- The integration between One Inc's PremiumPay® for inbound payment capabilities and Verisk's FAST platform is a significant step towards utilizing agile technology for fighting insurance fraud.
- The new pre-built payment integration for Verisk's FAST platform by One Inc not only simplifies inbound premium payments but also enables life carriers to achieve greater speed, flexibility, and operational efficiency, as emphasized by Ian Drysdale, CEO of One Inc.
- The partnership between One Inc's ClaimsPay® and PremiumPay® products and Verisk's FAST platform offers life insurers a future-ready, scalable solution that anticipates evolving industry needs, enhances policyholder experiences, and streamlines operations, as mentioned in the Key Benefits of the Integration.
