PremiumPay 2.0, a modernized, low code/no-code solution from One Inc, simplifies the insurance

Banking CIO Outlook | Thursday, December 02, 2021

The reinvented incoming payments platform provides carriers with a quick and straightforward solution to create a better payment experience for consumers without requiring engineers.

Fremont, CA: One Inc, the premier digital payments network for insurers, launched PremiumPay® 2.0, a reinvented inbound payments platform reinventing the insurance business. The best-in-class solution has a low code/no-code user interface that enables carriers to give unrivaled speed, usability, and flexibility without requiring high technological skill levels, allowing insurers to provide a better payment experience with less labor.

Companies that deal with cards and payments invest in technology and develop rules to avoid card and payment fraud. Payment service providers and merchants have deployed many solutions, including PCI DSS compliance, EMV technology, 3-D Secure services, tokenization, biometrics, and end-to-end encryption. The National Retail Federation (NRF) changes its security rules regularly to tackle the ever-changing ways of card theft.

"The concept of insurers needing to allocate developers and project managers for 6-, 12- and 18-month projects to create a better experience in today's quickly changing market is one of the past." stated Ian Drysdale, CEO of One Inc. "With One Inc's PremiumPay 2.0 low code/no-code approach, a carrier can deliver secure, modern payments with a best-in-class consumer experience in days and make modifications in minutes – all without IT support. Low code/no code is revolutionary in the industry in terms of concept, speed, deployment, and consumer success, and One Inc is at the forefront with PremiumPay 2.0."

One Inc's SaaS-driven PremiumPay 2.0 solution, which has been powering payments exclusively for insurance for a decade, provides intuitive and frictionless tools that enable insurers to connect, graphically configure, and deploy premium payments and digital engagement messaging in minutes using no-code configuration tools.

PremiumPay 2.0 was built with a series of sophisticated, insurance-specific capabilities, such as a new telecommunications platform, a fully customizable user interface, and user-friendly digital engagement tools, offering insurers the ability to provide customers with the ultimate payment experience at critical points during a policy.

Jeff Goldberg, Head of Insurance Insight & Advisory at the Aite-Novarica Group, said, "The benefits of low/no-code platforms are often easy to quantify. Faster time to market and lower development costs, for example, can generate rapid ROI by enabling new products and features to be brought to market quickly and with a reduced level of investment."

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