OneShield has partnered with One Inc to deliver a digital payment solution for the insurance industry.
One Inc’s payment product integrations designed for the insurance industry will now be accessible through OneShield’s customer-facing marketplace of insurance technology solutions, the companies said in a Thursday (April 25) press release.
“With One Inc’s industry-leading payment solutions now available in the OneShield marketplace, we can provide insurers with a more comprehensive suite of tools to optimize operations, reduce costs and deliver superior service to their policyholders,” Cameron Parker, CEO of OneShield, said in the release.
The new partnership of the two companies will address the challenges insurance carriers face in streamlining processes, creating efficiencies and improving the overall customer experience, according to the release.
OneShield’s solutions help insurers streamline the entire insurance lifecycle, provide convenient payment options and enhance the user experience, while One Inc’s digital payment platform gives insurers a payment process that is secure, seamless and customizable across channels that include web, mobile and call center, per the release.
“This partnership will provide insurers with a single destination for a robust and comprehensive suite of digital solutions, including modern payment options such as access to our ClaimsPay and PremiumPay solution integrations,” Ian Drysdale, CEO of One Inc, said in the release.
This partnership comes about a month after an announcement that Nordic Capital is making a strategic investment in One Inc.
Subject to customary regulatory approvals, Nordic Capital will join Great Hill Partners as an investor in the company, with both investors having an equal stake to each other alongside an investment from One Inc’s current management team.
“The sector experience and resources that Nordic Capital and Great Hill bring to this partnership will fuel additional product innovation and drive new opportunities for growth as we continue to provide solutions that improve efficiency and boost revenue for today’s insurers,” Drysdale said when announcing the investment.
In November 2023, One Inc partnered with J.P. Morgan Payments to further digitize and enhance property and casualty (P&C) insurance claim payments.
This collaboration aims to simplify the claims experience for customers by leveraging One Inc’s platform and J.P. Morgan’s liquidity and payments capabilities.
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