US-based One Inc has entered a partnership with J.P. Morgan Payments to enhance property and casualty insurance claims payments.

By joining forces, insurance carriers can use J.P. Morgan’s liquidity and payments capabilities through One Inc’s digital claim payouts platform, further digitising and improving the claims experience. The collaboration combines both companies’ insurance sector knowledge and intends to allow insurers to provide comprehensive, end-to-end solutions for a range of Property and Casualty (P&C) insurance claims payment demands.

One Inc – J.P. Morgan Payments partnership objective With its ClaimsPay solution, One Inc intends to expand claims payment abilities for insurers while also supporting them in accelerating revenue achievement, reducing operational costs, and improving customer satisfaction. According to One Inc’s officials, the strategic collaboration with J.P.

Morgan Payments supports the organisations’ shared commitment to providing enhanced solutions that address the needs of the P&C insurance industry. One Inc and J.P. Morgan Payments plan to offer modern and instant insurance claims payments that can benefit both insurers and policyholders. Furthermore, One Inc will be included in J.P.

Morgan’s Payments Partner Network in the upcoming period. Representatives from J.P. Morgan Payments stated that the partnership also aims to address the complex and unique requirements of the industry, as well as to unlock additional capabilities for joint P&C insurance clients.

J.P. Morgan Payments’ latest developments and collaborations According to company data, J.P. Morgan Payments processes over USD 10 trillion in payments across 160 countries and 120 currencies daily.

In recent months, the company entered multiple partnerships to advance its development strategy, including one with BillingPlatform at the beginning of November 2023. By collaborating with J.P. Morgan Payments, BillingPlatform integrated its solutions into the former’s ecosystem, aiming to service its Treasury Services and Trade Finance businesses.

The solution intended to increase J.P. Morgan’s billing capabilities and meet the market needs, being part of its broader billing and pricing development plan. Moreover, at the end of October 2023, J.P. Morgan Payments partnered with Trulioo to support global identity verification services and a more streamlined payment experience.

By selecting Trulioo’s global identity platform, the company planned to help its clients remove fraudulent activities and other financial crimes. The alliance enabled J.P. Morgan Payments to use Trulioo’s services for global individual and business verification to enable an improved payment experience globally.

More information about One Inc With its unified payment network, One Inc aims to modernise and improve the insurance industry, currently supporting 260 carriers to enhance their operations by minimising costs, increasing security, and optimising customer experience. Back in August 2023, AmTrust Financial Services chose One Inc’s Premium Pay platform to monitor and improve customer experience and collection processes. Through this collaboration, One Inc intended to offer AmTrust the digital framework needed to enhance user experience by implementing a modern payment solution.

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