Payment's volume increases 77% to $42 billion due to carrier and policyholder demand
FOLSOM, Calif. (February 21, 2023) – One Inc, the leading digital payments network for the insurance industry, today announced a transformative 2022, achieving greater than 50% growth in revenue, while adding 40 new carriers to its customer base. The company currently enables more than 240 insurance carriers processing over $42 billion in annual payment volume, a 77% year over year increase.
This surge in demand for frictionless, modern policyholder payments measurably increased policyholder satisfaction while driving expansion of the One Inc vendor and provider network by 40%, supporting average client digitalization of 78.5%. One Inc supports the widest range of payment options for its carriers including push to card and generationally-preferred digital wallet payments.
“One Inc delivered another great year of performance thanks to our innovative customers and partners who ranked payment solutions as their primary focus for a digital transformation that drives responsiveness, agility and value,” said One Inc CEO Ian Drysdale. “One Inc listens regularly to our clients, responding with advice and solutions that help carriers navigate a dynamic, evolving policyholder environment. We are committed to raising the bar for both carrier and policyholder experience, simplifying the payment process while driving continued industry innovation.”
Together with its growing list of clients, One Inc drove results that are unparalleled in the insurance payments space, including:
- For the first time, being named to the 2022 ‘Inc. 5000’ Fastest-Growing Private Companies in America’ List.
- Expanding its strategic partnership with Guidewire to empower insurers with a joint solution enabling the rapid delivery of a frictionless payment experience for customers, adjusters, agents, and vendors.
- Integrating the text based Hi Marley Insurance Cloud with One Inc’s ClaimsPay® platform. This valuable addition allows carriers to conduct text message conversations with claimants inclusive of digital payment, a unified and modern approach.
- Introducing network tokenization for leading insurers across the industry via the company’s leading PremiumPay® inbound payments product. As part of the collaboration with Visa, it is helping to greatly increase policyholder renewals and reduce costs.
- Opening offices in Knoxville, Tennessee, expanding its US presence and signifying the company’s commitment to providing one-call resolution, bolstering One Inc’s global team to over 660 team members.
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 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 payment, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments. For more information, please visit www.oneinc.com.
