With this partnership, insurance providers can now tap into expanded liquidity and payments capabilities, simplifying the claims experience for customers.
FOLSOM, Calif. November 16, 2023 /PRNewswire/ - One Inc, a leading digital payments network dedicated to serving the insurance sector, and J.P. Morgan Payments announced today they are working together – enabling insurance carriers to leverage J.P. Morgan’s comprehensive liquidity and payments capabilities as part of One Inc’s digital claim payouts platform, further digitizing and deepening the claims experience.
This partnership merges both organizations' deep-rooted insurance industry expertise, positioning insurers to offer comprehensive, end-to-end solutions for a broad spectrum of Property and Casualty (P&C) insurance claims payment needs.
While checks have traditionally dominated insurance claim payouts, claimants today expect more instant, digital payment options. One Inc’s ClaimsPay® solution, named Best in Class P&C Nonbank Disbursements Platforms by Datos Insights, aims to expand claims payment capabilities for insurers while helping insurers accelerate revenue realization, reduce operational costs through digitization, and improve customer satisfaction.
"We are excited to embark on this journey with J.P. Morgan, a financial institution renowned for its commitment to innovation and client service," said Ian Drysdale, CEO at One Inc. "This strategic partnership underscores our shared vision of providing cutting-edge solutions that address the evolving needs of the P&C insurance industry. Together, we will set new standards for modern and often instant insurance claims payments, benefitting insurers and policyholders alike."
The collaboration between One Inc and J.P. Morgan represents a significant step forward in enhancing the P&C insurance claims payment landscape. By harnessing the collective strengths of these industry leaders, insurers and policyholders alike can look forward to an even more seamless and efficient claims payment experience. One Inc will soon be added to J.P. Morgan’s Payments Partner Network.
"The insurance vertical has very complex and unique requirements to drive further digitization in the industry, and as such, we are excited to partner with a leading vertical fintech solution like One Inc to unlock new capabilities for joint P&C insurance clients,” said Jason Tiede, Global Head of Corporate Development & Partnerships, J.P. Morgan Payments.
J.P. Morgan Payments is a global leader, processing over $10 trillion in payments across 160 countries and 120 currencies daily. Recently, J.P. Morgan Payments was awarded the responsibility of validating all transactions made by the U.S. Treasury Department, the first enterprise collaboration of its kind.
About One Inc
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps 260+ carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest-growing digital payment platforms in the insurance industry, One Inc manages billions of dollars in premiums and claim payments annually. For more information, please visit www.oneinc.com.