One Inc and Equisoft Partner to Modernize Life Insurance Premium Payments
One Inc, a leading payments network specialized in the insurance sector, has partnered with Equisoft, a global provider of digital solutions for financial services, to integrate One Inc’s PremiumPay® platform with Equisoft’s life insurance policy administration systems. This partnership aims to streamline inbound premium payments for insurers, reducing manual processing and driving cost efficiencies while supporting digital transformation initiatives. The PremiumPay platform offers a broad array of payment options, including popular digital wallets such as Apple Pay, Google Pay, PayPal, and Venmo, as well as traditional payment methods.
Equisoft's integration of PremiumPay provides life insurers with a plug-and-play payment solution designed to digitalize premium collections and improve operational agility. This approach is positioned to enhance the customer experience by making payment processes more efficient and responsive to evolving technological expectations. The collaboration addresses the need for modernized payment processing frameworks as insurers seek to optimize cost structures and service delivery.
One Inc highlights the generational shift in policyholder expectations, emphasizing the demand for seamless, digital-first experiences aligned with technology adoption. By embedding PremiumPay into Equisoft’s administration platform, insurers can better meet these changing preferences, ensuring competitiveness in a market undergoing significant transformation. This partnership continues One Inc’s trajectory in advancing payment modernization within the life insurance industry.
Both companies bring extensive expertise: One Inc manages payments for over 280 insurers, offering a unified digital payment network that improves security, reduces costs, and enhances claims processing. Equisoft serves more than 300 financial institutions globally, delivering a comprehensive ecosystem of digital insurance solutions from front-end applications to back-office services. This joint solution exemplifies the industry's move toward integrating innovative technology platforms to enhance efficiency and customer engagement in insurance premium processing.