Shelter Insurance has selected One Inc payment solutions to improve its digital payment experience and streamline payment operations. The company will use One Inc’s ClaimsPay® and PremiumPay® solutions for this initiative. Payment enhancements will give policyholders added convenience and increase carrier’s efficiency
One Inc, the leading payments network for the insurance industry, announced the partnership with Shelter Insurance Companies (Shelter). Shelter selected One Inc’s ClaimsPay® and PremiumPay® solutions for its payment modernization efforts.
The solutions will help Shelter streamline and modernize its customers’ payment experience. In addition, the integration will bring inbound and outbound payment functions onto one unified platform. As a result, Shelter can consolidate its payment activities through a single environment. The company can also provide customers with a fully digital payment experience.
“Shelter’s selection of One Inc’s payment solutions marks another significant step toward delivering a seamless payment experience for its customers,” said Ian Drysdale, CEO of One Inc. “We’re excited to partner with Shelter as it modernizes its operations and embraces the advantages of digital payments, tapping into our network to increase their competitive edge. Shelter joins a growing wave of carriers leveraging payments technology to build agile, future-ready digital infrastructure.”
Shelter Advances Insurance Payment Modernization
Founded in 1946, Shelter and its subsidiaries provide home and auto insurance products. The company serves customers through more than 2,000 agents across 20 states. Meanwhile, Shelter continues to focus on customer service and operational efficiency. The company wanted a payments ecosystem that could support both goals. Therefore, Shelter selected a solution that can improve customer convenience. The platform will also help unify its treasury operations.
One Inc has payment capabilities built into its platform that are native to insurance. These capabilities will provide Shelter policyholders with more options for making and receiving payments. For instance, there are several familiar digital payment methods available. Some of these are Apple Pay, Google Pay, PayPal and Venmo. Customers still have the option of paying through traditional means. These include bank accounts and debit cards.
One Inc also provides support for multi-party complex insurance transactions. This functionality includes payments for lienholders and mortgagees. These types of transactions meet the particular needs of the insurance industry. Therefore, Shelter supports various payment scenarios through one payment ecosystem. The implementation will enhance One Inc payment solutions across Shelter’s payment operations. It will also support the company’s broader initiatives toward digital payment modernization.
One Inc Connects Policy, Billing, and Claims
One Inc offers pre-built integrations with modern core systems. These integrations create cloud-based connections across policy, billing, and claims operations. Consequently, insurers can connect key payment processes more efficiently. The structure also helps eliminate data silos across different operational functions. Furthermore, the platform simplifies treasury operations through one consolidated reconciliation environment. This approach can give Shelter a centralized view of its payment activities.
Shelter will also have access to One Inc’s large vendor network. The network includes over 1.3 million vendors in multiple insurance-related categories. These vendors include automotive, legal and medical providers. Therefore, Shelter may utilize a wide ecosystem of support for insurance payment activity. The more people that join the network the more value it creates. Every new connection can make the overall network stronger, and can spur more digital adoption. This model can accelerate the adoption of electronic payment across insurance operations. It also helps insurers looking for more connected digital infrastructure.
Digital Payments Support Shelter’s Growth Strategy
Shelter selected One Inc after evaluating its enterprise payment capabilities. The company wanted a solution that could support its ongoing system modernization efforts.
“Our decision to partner with One Inc was driven by their ability to deliver a comprehensive, enterprise solution that supports our ongoing system modernization efforts,” said Mark Stinson, Vice President of Financial Operations at Shelter. “With One Inc, we can streamline both inbound premium payments and outbound claims disbursements, while gaining access to their network of vendors that helps accelerate adoption of electronic claims payments and improve efficiency. One Inc’s deep insurance expertise and forward-looking approach makes them a strong partner for Shelter’s continued growth.”
The partnership will enable Shelter to better manage inbound premium payments. The company will also simplify the disbursement of outbound claims. The vendor network can also help increase acceptance of electronic claims payments. This can help to improve payment efficiency across multiple insurance processes. The partnership expands Shelter’s use of One Inc payment solutions across its payments operations. It combines the usefulness for insurance with digital payment options.
The integration also supports Shelter’s efforts to modernize its technology environment. In addition, it gives policyholders access to more familiar digital payment methods. As insurance companies continue adopting digital payment technologies, payment modernization remains important. Insurers increasingly need connected systems for premiums, claims, billing, and reconciliation. One Inc’s platform brings these functions together within an insurance-focused payment ecosystem. For Shelter, the partnership supports a more unified approach to digital insurance payments. The company can therefore continue improving customer convenience while supporting operational efficiency. At the same time, the implementation strengthens its broader digital infrastructure strategy.
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News Source: Businesswire.com
