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One Inc & J.P. Morgan Payments to boost insurance payment platform

By Gloria Mathias

October 21, 2024

  • Bank Account
  • Billing
  • BillingPlatform
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J.P. Morgan payments, BillingPlatform, workflow automation, billing, invoicing, Pay-by-bank, bank account, open banking technology, merchants, insurance, healthcare, Fintech news, Fintech USA, One Inc, Insurance Payments, Payments Platform, One Inc., the insurance payments network, has expanded its collaboration with J.P. Morgan Payments, aimed at delivering a comprehensive, unified payment experience for property and casualty (P&C) insurance clients.

This enhanced collaboration provides the seamless integration of J.P. Morgan Payments’ capabilities with One Inc’s PremiumPay® and ClaimsPay® solutions, enabling insurance carriers to access One Inc’s full suite of inbound and outbound digital payment services.

Key benefits of the expanded integration include:

  • Unified Payment Integration: Carriers can swiftly adopt cloud-based ClaimsPay and PremiumPay solutions, accessing a Treasury workstation to manage premiums and claims efficiently within a single interface.
  • Lower Integration Expenses: Carriers can significantly reduce implementation costs and time by more than 50% due to a robust network of insurance core partner integrations.
  • Enhanced Ecosystem: Connect with a broader network of insurance partners through One Inc’s Vendor-Provider Payments Network of 775,000 suppliers.
  • Improved Efficiency: Reduction in administrative costs, enhanced fraud protection, and quicker reconciliation processes contribute to decreased cycle times while digitalising up to 76% of payments.
  • Increased customer satisfaction: A seamless payment experience boosts policyholder retention and fosters loyalty.

“We are very excited to be furthering our collaboration with J.P. Morgan Payments and helping carriers achieve the greater cost savings and policyholder engagement that they’re looking for,” said Ian Drysdale, CEO of One Inc. “With our combined strengths and deep industry expertise, this expansion represents a major step toward our shared vision of transforming the insurance payments landscape by delivering a single, unified solution for inbound and outbound payments.”

“The insurance industry has a unique and complex set of needs when it comes to digitisation, and One Inc’s payments framework complements our commitment to providing innovative solutions that help address these challenges,” said Jason Tiede, Global Head of Corporate Development & Partnerships at J.P. Morgan Payments. “By expanding our relationship, we’re empowering our P&C insurance clients with the tools they need to streamline payment processes and meet the evolving demands of their policyholders.”

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