As the demand for digital payment systems increases, so do the risks and complexities associated with it. These issues are clearly visible in cases of insurance companies who often struggle with their payment portals.
The deposition of premiums may seem hassle-free, but the difficulties and challenges a customer has to experience at multiple levels while claiming the insurance payments are enough for them to regret their decisions. This affects the overall goodwill of the company, and it ultimately ends up losing customers.
To help organizations and insurance companies cope with such problems related to digital payment, One Inc has come forth with its one-of-a-kind solutions. Founded in 2012, One Inc is a leading digital payment platform that has been designed to integrate and collaborate with core insurance systems to process both claims and premiums effectively. It ensures a frictionless payment experience for policyholders at insurance companies that use the One Inc portal.
Presently, more than 185 insurance companies use One Inc as their digital payment gateway. With more than 19 billion dollars in transactions from 45 million payments, the company is one of the fastest-growing digital payment platforms available right now, especially for insurance companies. Being a fully certified company, One Inc has been registered with:
- American Express’s compliance program
- Visa GRSP’s global registry of service providers
- MasterCard’s site data protection complaint service provider, just to name a few.
The most successful innovation of the developers at One Inc is ClaimsPay. ClaimsPay is a comprehensive digital disbursement payment platform that makes it easier to close claims faster, retain customers, and finally, works to save both money and time. Payment can be done without any unforeseen disruptions with an easy-to-use mobile app, to anyone from multi-party claimants to agents and vendors.
It allows a wide range of payment options, from direct deposit to PayPal, checks, cards, and many similar options. It also facilitates instant payments during catastrophic situations with ‘CAT’ cards.
It helps to report and reconcile payments across channels, methods, and batches faster than ever before. The reliability of ClaimsPay lies in its fully outsourced payment instrument functions. This reduces the burden of maintaining compliance with regulatory bodies like NACHA, PCI-DSS, etc.
“Chris has done a spectacular job building the company from the ground up into an insurtech leader. He recognized the scale opportunity and built One Inc, bringing both innovation and payments technology to the insurance business.”, said Ian Drysdale, the newly appointed CEO of the company, about its founder Christopher Erwing.
The founders of One Inc, Christopher Erwing, and Tim Tyannikov built this company intending to modernize the insurance industry by implementing a smooth and streamlined payment network. One Inc’s product PremiumPay helps its customers calculate hidden costs and allows them to pay by text.
Replying “PAY” to a real-time payment reminder message helps the policyholder pay their premiums without logging into any portal, searching for their checkbook, or entering their card numbers every time.
Usually, insurance companies that incorporate Pay by Text manage to delight their policyholders and boost retention. This innovative idea also helps deal with missed and delayed payments. Its multichannel digital communication feature exponentially increases the efficiency of the application. This is just one small feature of the fairly distributed application PremiumPay.
“We are building a diverse and inclusive team of A-Players who aren’t afraid to push the boundaries of what’s possible. Together we work hard, collaborate constantly, lift one another up and challenge each other without fear,” says Chris.
With a background team of experienced workers who continuously update the company’s software with cutting-edge technologies, One Inc ensures speedy digital claim settlements, even for cases with the most complex insurance usage mechanisms. The employees here love the work culture, and this optimistic view pushes them to deliver their best.
With core values of “wowing everyone” and “rising together”, One Inc aims to expand its business all over the world and become the number one digital payment platform across industries; with more such services and modern-day Information Technology, to increase transparency and facilitating the ease of Online Payment facilities.