One Inc Launches Pre-Built Payment Integration for Verisk's FAST Life Insurance Platform
PremiumPay® to Simplify Inbound Payments and Improve Speed for Policyholders
One Inc, the leading digital payments network for the insurance industry, today announced the launch of a pre-built payment integration for Verisk's FAST ("Flexible Architecture, Simplified Technology"), a modern, flexible platform designed to streamline and scale life insurance operations. This new integration connects One Inc's industry-leading PremiumPay® for inbound payment capabilities directly into FAST's configurable system architecture, helping carriers accelerate their digital transformation by reducing the need for physical and non-direct payments in the life and annuity market.
Verisk (NASDAQ:VRSK), a leading global data analytics and technology provider, and its FAST platform enable 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 company's integrated solutions accelerate carriers' time to market and deliver a superior digital policyholder experience. Integrating One Inc's payment technology within Verisk's FAST platform enables carriers to:
- Offer a modern payment experience and enhance communication with policyholders via one convenient platform.
- Simplify digitalization and automate critical processes to drive greater efficiency and scalability across life and annuity lines.
- Mitigate outdated strategies and operational costs associated with digitalization.
"At Verisk, we are committed to helping life insurers by providing data-rich solutions to achieve greater speed, flexibility and operational efficiency," said Saurabh Khemka, co-president of underwriting solutions at Verisk. "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."
"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."
About One Inc
One Inc is modernizing the insurance industry for over 270 carriers through a unified and frictionless payment network. Specializing solely in insurance, One Inc enhances 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. As a leading digital payments platform, One Inc handles billions in premiums and claims annually. 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. For more details, please visit www.oneinc.com.
About Verisk
Verisk (NASDAQ:VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It 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. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
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Media Contact:
Will Link
Stanton Public Relations & Marketing
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Morgan Hurley
Verisk
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(551) 655-7858