One Inc and Cardplatforms Partner To Deliver Digital Insurance Claims Payments
Cardplatforms is pleased to announce that it has teamed up with One Inc to power digital prepaid cards for ClaimsPay®, part of the One Inc Digital Payments Platform designed specifically for insurance. One Inc serves the insurance payments needs of over 100 insurance companies for both inbound premiums and outbound claims while processing billions of dollars in premiums per year. One Inc anticipates having the same level of success processing insurance claims with ClaimsPay®.
Currently, 65% of all insurance claims are still paid by check. However, customer expectations have changed. Today's consumers are demanding faster claims payments. According to PYMNTS.com, only 7% of people prefer checks while 22% prefer instant payments. The launch of ClaimsPay® will address this challenge by aligning how insurers pay with how consumers want to be paid.
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ClaimsPay® offers several digital ways for insurers to pay claims as part of the platform to best meet the needs of the insured. Digital cards allow insurers to disburse funds to policyholders instantly, accelerating the time-to-settle and serving insureds that prefer to use mobile payment methods such as
About
One Inc provides insurance companies a digital payments platform designed to increase retention, decrease admin expenses, and mitigate data security risk – while simplifying compliance. The One Inc Digital Payments Platform combines multi-channel digital communications with electronic payment processing and disbursement, creating a frictionless premiums and claims payments experience. As one of the fastest growing digital payments platforms in the insurance industry,
About Cardplatforms
Cardplatforms® delivers impactful payment solutions to underserved populations and markets, where traditional financial services have failed to provide affordable and convenient options. Leveraging a unique blend of industry expertise and proprietary technology, we design and develop white-label payment solutions that are specifically tailored to the needs of our partners and their consumers. Our experience navigating an ever-changing payments landscape, combined with the control provided by our Blu Box™ technology platform, allows us to fully customize programs and get them launched faster. Learn more at cardplatforms.com.
Read the full story at https://www.prweb.com/releases/one_inc_and_cardplatforms_partner_to_deliver_digital_insurance_claims_payments/prweb16444429.htm
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