The partnership aims to deliver a comprehensive, unified payment experience for Property & Casualty (P&C) insurance clients.
By combining One Inc’s PremiumPay and ClaimsPay solutions with J.P. Morgan Payments’ capabilities, insurance carriers can now access a full suite of inbound and outbound digital payment services. This includes support for a variety of payment methods, such as credit/debit cards, Apple Pay, Google Pay, PayPal, Venmo, and ACH transactions.
The integration offers several key benefits for insurance carriers, including:
- Unified Payment Platform: Carriers can efficiently manage premiums and claims within a single interface.
- Reduced Costs: Implementation costs and time are significantly reduced thanks to One Inc’s extensive network of insurance core partner integrations.
- Expanded Network: Access to a broader network of insurance partners through One Inc’s Vendor-Provider Payments Network.
- Improved Efficiency: Decreased administrative costs, enhanced fraud protection, and faster reconciliation processes lead to reduced cycle times and increased efficiency.
- Enhanced Customer Satisfaction: A seamless payment experience boosts policyholder retention and loyalty.
“We are very excited to be furthering our collaboration with J.P. Morgan Payments and help carriers achieve the greater cost savings and policyholder engagement that they’re looking for,” said Ian Drysdale, CEO of One Inc.
“With our combined strengths and deep industry expertise, this expansion represents a major step toward our shared vision of transforming the insurance payments landscape by delivering a single, unified solution for inbound and outbound payments.”
“The insurance industry has a unique and complex set of needs when it comes to digitization, and One Inc’s payments framework complements our commitment to providing innovative solutions that help address these challenges,” said Jason Tiede, Global Head of Corporate Development & Partnerships at J.P. Morgan Payments.
He added: “By expanding our relationship, we’re empowering our P&C insurance clients with the tools they need to streamline payments processes and meet the evolving demands of their policyholders.”
