One Inc Strengthens Partnership with GAINSCO Auto Insurance for Digital Payments
One Inc, a prominent provider of digital payment solutions for the insurance industry, has strengthened its partnership with GAINSCO Auto Insurance. Known for its expertise in minimum-limits personal auto insurance, GAINSCO has upgraded to the latest version of One Inc’s ClaimsPay solution. This upgrade marks an extension of their longstanding collaboration, aiming to enhance claim payment processes.
With over five years of utilizing ClaimsPay, GAINSCO has significantly improved payment flexibility for policyholders, ensuring faster claim payouts through modern payment channels such as virtual cards and digital wallets. The platform upgrade now includes options like Push to Debit, PayPal, and Venmo, alongside traditional methods like ACH and virtual cards. Additionally, GAINSCO leverages One Inc’s Vendor Network to transition vendor payments to digital solutions, boosting digital adoption by 66% among its vendors.
Streamlined Claims Processing
The integration with One Inc simplifies the claims process by efficiently managing multi-party payments, especially for recipients like lienholders and vendors. Ian Drysdale, CEO of One Inc, emphasized, "We are proud to extend our longstanding relationship with GAINSCO as we continue working to deliver on the promise of insurance by uniting the entire industry ecosystem."
Operational Efficiency and Technology Adoption
Sandy Roman, Director of Claims Strategy at GAINSCO, highlighted the operational improvements enabled by the adoption of ClaimsPay. She stated, "Adopting ClaimsPay has enabled us to streamline operations while delivering a more modern, seamless payments experience that our policyholders were demanding."
Importance of Digital Transformation
Research commissioned by One Inc supports the critical role of prompt and flexible claim payments in strengthening policyholder loyalty. Conducted by Celent, the study highlighted payment speed and the availability of digital payment options as essential components of a favorable claims experience. This partnership enhancement with GAINSCO underscores the evolving demands for digital transformation in insurance claims processing, ensuring efficient service delivery and regulatory compliance.