LIDP has added One Inc’s inbound PremiumPay solution to its Titanium platform for life insurance carriers. PremiumPay will allow the carriers using Titanium to customize payment processes, enhance communication and reconciliation, and offer their policyholders a variety of options for making premium payments, the companies...
Insurance firms face a conundrum when digitalizing operations, as they accept and disburse payments that have multiple points of contact. Are they going to be tech experts, and take the bulk of infrastructure and security challenges in-house? Do they buy other firms that have the...
One Inc, a digital payments network for the insurance industry, announced Tuesday (June 3) the launch of its advanced 835 Electronic Remittance Advice (ERA) solution. It is designed to streamline remittance processes to healthcare providers, with particular benefits for workers’ compensation insurers, but also extends...
Artificial intelligence is increasingly being used by insurers, rental car companies, vehicle auction houses and others to more accurately assess vehicle damage, automate claims processing and avoid disputes. Click-Ins is a company that uses AI and its own proprietary system that taps a mix of...
At its core, the insurance industry has a business model that’s been around for decades, at least on the service side of the equation. Essentially there are two sides of the market, as thousands of independent agents are on one side, and carriers are on...
The groundwork is being laid for the movement of the insurance industry fully into the digital age. One Inc. Chief Product Officer Sarah Owen told PYMNTS in an interview that insurers and banks are modernizing their legacy and back-office systems to embrace the steady drumbeat...
The digital transformation of the insurance industry is a work in progress. Digitizing trillions of dollars in payments bumps up against the complexities of the claims processes, and the tangled web of interactions between carriers, policyholders, regulators and a host of multiple payees. eCommerce has...
InsurTech startup 1Fort has raised $7.5 million in a funding round to enhance the artificial intelligence (AI) capabilities of its platform for business insurance. The company’s platform is designed to empower insurance brokers by automating processes that are traditionally manual and time-consuming, 1Fort said in...
Insurance is one of the most complex industries, marked by multiple touch points among several stakeholders — from carriers to customers, claims adjusters to contractors. One Inc. Chief Revenue Officer Kevin Ostrander told PYMNTS that payments remain among the most important touch points within those...