One Inc, a digital payments network for the insurance industry, has partnered with Verisk, a global data analytics and technology provider, to deliver a new pre-built payment integration for Verisk’s FAST platform.
The collaboration aims to streamline the digital payment experience for life and annuity insurers.
The partnership’s goal is to accelerate digital transformation within the life insurance sector by embedding One Inc’s PremiumPay® capabilities directly into Verisk’s FAST platform.
This integration supports carriers in reducing reliance on physical and non-direct payment methods, enhancing overall operational efficiency.
One Inc specialises in modernising the insurance payment experience, providing digital solutions that streamline both inbound and outbound transactions. Its PremiumPay® platform focuses on simplifying payment workflows, enabling insurers to process customer payments securely and efficiently.
Verisk’s FAST platform, which stands for Flexible Architecture, Simplified Technology, helps life insurers modernise their operations across the entire insurance lifecycle. This includes product development, policy administration, customer self-service, and claims management. By embedding One Inc’s technology into FAST, Verisk enables insurers to provide a seamless digital payment journey while boosting scalability and automation.
The integration is designed to help insurers improve communication with policyholders, automate processes, and lower costs associated with outdated operational models. By offering a unified platform, the partnership addresses both modernisation and compliance needs in a single solution.
The announcement also highlights a growing trend among insurers to replace legacy infrastructure with integrated digital systems that improve user experience and reduce time to market.
Verisk co-president of underwriting solutions Saurabh Khemka said, “At Verisk, we are committed to helping life insurers by providing data-rich solutions to achieve greater speed, flexibility and operational efficiency. By integrating digital payment capabilities in collaboration with PremiumPay, carriers can accelerate their modernization efforts, reduce complexity and deliver improved customer experiences without the time and cost associated with updating their existing platforms.”
One Inc CEO Ian Drysdale said, “This product integration offers a critical path to unlocking value from digital payments tailored to the needs of life insurers. We can eliminate the typical barriers of custom integrations and enable carriers to adopt modern inbound payment capabilities with greater speed and efficiency. This collaboration emphasizes our strengths to modernize the life insurance landscape while offering a unified platform for payments.”
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