One Inc and Verisk Collaborate on Pre-Built Payment Integration for Life Insurance Platform

One Inc has launched a pre-built payment integration for Verisk's FAST life insurance platform to streamline operations and reduce reliance on non-direct payments. The integration combines One Inc's PremiumPay system with FAST to provide a modern payment experience and improved operational efficiency for insurers. This collaboration aims to accelerate digital transformation and overcome traditional barriers in the life and annuity market.

One Inc has launched a pre-built payment integration for Verisk's FAST life insurance platform, designed to streamline operations and reduce reliance on non-direct payments. The integration combines One Inc's PremiumPay system with FAST to provide a modern payment experience and improved operational efficiency for insurers. This collaboration aims to accelerate digital transformation and overcome traditional barriers in the life and annuity market.

The new integration connects One Inc's PremiumPay for inbound payment capabilities directly into FAST's configurable system architecture, enabling carriers to offer a modern payment experience and enhance communication with policyholders via a single platform. This integration simplifies digitalization and automates critical processes, driving greater efficiency and scalability across life and annuity lines. By mitigating outdated strategies and operational costs associated with digitalization, the integration helps carriers modernize their operations more quickly and cost-effectively.

Verisk, a leading global data analytics and technology provider, is committed to helping life insurers achieve greater speed, flexibility, and operational efficiency. The company's FAST platform enables life insurers to quickly modernize and mitigate challenges spanning the life insurance life cycle, such as product development, customer self-service, policy administration, and claims management. The integration of One Inc's payment technology within FAST allows carriers to accelerate their modernization efforts, reduce complexity, and deliver improved customer experiences without the time and cost associated with updating their existing platforms.

"This product integration offers a critical path to unlocking value from digital payments tailored to the needs of life insurers," said Ian Drysdale, CEO of One Inc. "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."

One Inc, which modernizes the insurance industry for over 270 carriers, specializes in enhancing carrier operations by cutting costs, boosting security, and improving customer experience. Their all-inclusive digital payments platform offers diverse payment options, multi-channel communications, and swift claim settlements, even for complex cases. Recently acknowledged by CNBC as one of the World’s Top Fintech Companies and consistently listed on the Inc. 5000 list of Fastest-Growing Companies over the past three years, One Inc stands as a leader in fintech innovation.

Verisk, with teams across more than 20 countries, consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. The company empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global risks, including climate change, extreme events, sustainability, and political issues.

References:
[1] https://www.marketscreener.com/quote/stock/VERISK-ANALYTICS-INC-5628469/news/One-Inc-Launches-Pre-Built-Payment-Integration-for-Verisk-s-Fast-Life-Insurance-Platform-50276784/
[2] https://finance.yahoo.com/news/one-inc-launches-pre-built-120000641.html