The integration embeds One Inc’s PremiumPay® inbound payment solution directly into FAST’s configurable system, allowing life and annuity insurers to accelerate digital transformation by reducing reliance on physical and non-direct payment methods.
Verisk’s FAST platform is designed to streamline and scale life insurance operations, addressing key areas such as product development, customer self-service, policy administration, and claims management. The integration of One Inc’s payment technology within this framework enables insurers to offer a more modern and seamless payment experience for policyholders, automate critical processes, and drive operational efficiency. It also helps mitigate the costs and complexity associated with legacy systems and outdated payment strategies.
Saurabh Khemka, co-president of underwriting solutions at Verisk, highlighted the value of the partnership: “At Verisk, we are committed to helping life insurers by providing data-rich solutions to achieve greater speed, flexibility and operational efficiency. By integrating digital payment capabilities in collaboration with PremiumPay, carriers can accelerate their modernization efforts, reduce complexity and deliver improved customer experiences without the time and cost associated with updating their existing platforms.”
Echoing this, One Inc CEO Ian Drysdale emphasized the significance of the collaboration: “This product integration offers a critical path to unlocking value from digital payments tailored to the needs of life insurers. We can eliminate the typical barriers of custom integrations and enable carriers to adopt modern inbound payment capabilities with greater speed and efficiency. This collaboration emphasizes our strengths to modernize the life insurance landscape while offering a unified platform for payments.”
The integration is now available to carriers using Verisk’s FAST platform, offering them a fast, scalable way to enhance their digital payment capabilities and improve policyholder engagement across life and annuity lines.
