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Core System Upgrades Move Insurers Toward Real-Time Payments

  • Insurance firms are facing a decision on whether to build, buy, or partner for tech expertise in digitalizing operations for payment processing.
  • Partnerships can help insurers improve customer experience and modernize fund flows, leading to faster claims processing and cost reduction.
  • Offering a variety of payment methods such as push to debit, PayPal, Venmo, and real-time options is crucial for individual policyholders.
  • One Inc, specializing in premium collection and claims payments, emphasizes integration with carriers' core systems for operational efficiency, reducing time and costs.

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