This partnership integrates JP Morgan Payments’ treasury services with One Inc’s PremiumPay® and ClaimsPay® solutions, providing carriers with access to comprehensive digital payment services for both inbound premiums and outbound claims.
The integration includes One Inc’s PremiumPay solution, which handles premium payments, alongside the existing ClaimsPay platform for disbursements. By combining these services, P&C carriers can streamline payment processes using One Inc’s Digital Wallet, which supports a variety of payment methods, such as credit/debit cards, Apple Pay, Google Pay, PayPal, Venmo, and ACH transactions. This unified approach simplifies premium collection and claims disbursement, offering a consistent experience for policyholders.
Unified Payment Platform: Carriers can adopt both PremiumPay and ClaimsPay solutions within a single interface, improving efficiency.
Lower Integration Costs: Integration with over 50 core insurance partners helps reduce costs and implementation time by more than 50%.
Expanded Ecosystem: Carriers gain access to One Inc’s Vendor-Provider Payments Network, connecting them with 775,000 suppliers.
Increased Efficiency: The digitalization of up to 76% of payments leads to lower administrative costs, faster reconciliation, and enhanced fraud protection.
Improved Customer Satisfaction: The simplified payment process supports better policyholder retention.
JP Morgan Payments, a global leader in payment processing, handles nearly USD 10 trillion daily and operates in over 160 countries. One Inc, specializing in digital payment solutions for the insurance industry, serves over 250 carriers and has been recognized as a top fintech company by CNBC. This collaboration is part of their shared goal to modernize insurance payment systems for both carriers and policyholders.
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