One Inc, the leading payments network for the insurance industry, has announced a partnership with U.S. Bank to deliver a unified payment experience tailored to Property & Casualty (P&C) and Life insurers.
The collaboration combines One Inc’s expertise in insurance payments with U.S. Bank’s robust money movement and banking capabilities.
The partnership aims to optimise claims and premium processing for insurance carriers and their customers.
It leverages the seamless integration of One Inc’s ClaimsPay® and PremiumPay® solutions with U.S. Bank’s capabilities to create an efficient, streamlined payment experience.
One Inc provides a Digital Payments Network designed specifically for the insurance industry, offering solutions such as ClaimsPay® and PremiumPay®.
Its platform supports multiple payment channels, including credit/debit cards, Apple Pay®, Google Pay™, PayPal™, Venmo, and ACH transactions, helping insurance carriers improve operational efficiency and policyholder satisfaction.
U.S. Bank brings its strength and stability as a leading financial institution to the partnership.
The bank’s deep experience in payments and insurance allows it to address complex claims and premium payment processes.
It has also been an early adopter of instant payment technology, being part of the first transaction on the RTP Network® and a launch partner of the FedNow® Service.
The collaboration is set to accelerate the adoption of instant payments within the insurance industry.
By combining U.S. Bank’s instant payment capabilities with One Inc’s Digital Payments Network, insurance carriers can deliver faster outbound claims disbursements and improve their overall payment ecosystem.
Ian Drysdale, CEO of One Inc, said, “Both U.S. Bank and One Inc are dedicated to elevating the insurance payment experience, making it simpler and more efficient for insurers and their policyholders. Together, we’re eager to empower carriers with streamlined solutions that support their financial objectives and deliver a more connected payment journey. This emphasizes our strengths to modernize the insurance payment landscape while offering a unified platform for both incoming and outgoing payments.”
Mike Jorgensen, Head of Emerging Solutions and Strategy in Global Treasury Management at U.S. Bank, added, “We’re excited to partner with One Inc, a technology leader delivering innovative solutions for insurance carriers nationwide. By bringing the payment capabilities of One Inc and U.S. Bank, we can create even more value for our insurance clients and respond to the evolving needs of their policyholders.”
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