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Property and casualty (P&C) insurer Columbia Insurance Group (CIG) has picked insurtech company One Inc's digital payment solutions, PremiumPay and ClaimsPay, to improve its payment processing for both inbound and outbound transactions.
The integration will be implemented using Guidewire InsuranceSuite on the Guidewire Cloud Platform.
Guidewire is a software provider for P&C carriers.
Set up in 1889, CIG serves businesses in various industries including automotive, retail, professional services and wholesalers.
By implementing One Inc's low-code/no-code inbound payments solution, PremiumPay, CIG aims to offer a personalised brand experience, manage multi-channel communication preferences and deliver “proactive messaging” at crucial times.
The addition of ClaimsPay, One Inc's outbound claims solution, is set to provide CIG policyholders with “flexible payment options”.
These include digital platforms like PayPal, Venmo and Zelle, as well as other methods such as interactive voice responses (IVR) and text messaging.
The insurer aims to boost customer retention, reduce costs and minimise risk through the adoption of One Inc's solutions.
CIG chief information officer and vice-president Lisa Wharton said: “Partnering with One Inc represents a crucial milestone in our commitment to remain at the forefront of the industry and consistently meet the evolving needs of our customers. Their deep expertise in digital payments enables us to seamlessly integrate cutting-edge technology, providing our policyholders with a payment experience that is not only modern and efficient but also secure.”
One Inc CEO Ian Drysdale said: “One Inc and Columbia Insurance Group share a unified vision of leveraging digital payments technology to deliver exceptional customer experiences. Our advanced platform and industry expertise are designed to elevate Columbia Insurance Group’s policyholder satisfaction by providing a streamlined and modern single payment solution."
Last month, Baton Rouge, Louisiana, US-based insurer GoAuto also selected One Inc’s PremiumPay and ClaimsPay solutions.
"Columbia Insurance Group adopts One Inc payments solutions " was originally created and published by Life Insurance International, a GlobalData owned brand.
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