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Nordic Capital has made a strategic investment in One Inc, a digital payments platform for the North American insurance industry.
Nordic Capital will join Great Hill Partners as an investor in One Inc, and both investors will hold a stake equal to the investment from One Inc’s current management team, the companies said in a press release on Thursday (March 14). Announced.
The investment is subject to customary regulatory approvals, according to the release.
One Inc CEO Ian Drysdale said in a release: “We are experiencing rapid growth and outstanding customer loyalty, demonstrating the strength of our model and industry-leading payment network of over 700,000 vendors. We continue to maintain it.”
“The sector experience and resources that Nordic Capital and Great Hill bring to this partnership will drive further product innovation and create new It will drive growth opportunities,” Drysdale added.
According to a release, One Inc aims to help insurance companies digitize transactions from premium payments to claims payments, all on one comprehensive platform.
The company’s platform is designed to integrate with both modern and traditional insurance core systems, allowing insurers to engage with policyholders and process payments through these channels, the release said. There is.
Founded in 2012, One Inc currently has nearly 500 employees, processes $70 billion in payments annually, and has a network of more than 700,000 vendors, according to a release. The company serves more than 240 customers in the insurance industry.
“Nordic Capital is a long-time supporter of One Inc, which stands out for solving the unique and complex challenges of digital payments in the insurance industry,” said Fredrik Näslund, Partner and Head of Technology and Payments at Nordic Capital. and partner Mohit Agnihotri. The advisors said in a release: “Through innovative solutions, the company is transforming and simplifying payments across the insurance ecosystem, benefiting insurers, consumers and vendors alike.”
The insurance industry is introducing new digital solutions to meet the needs of younger consumers, who are setting a higher bar for digital experiences across the industry, Drysdale said in an interview published in November 2023. told PYMNTS.
“Insurers are also rapidly moving to cloud-based core systems with integrated customer-facing mobile capabilities, including payments, to provide the best experience for policyholders and help build loyalty. Drysdale said in an interview for the PYMNTS Intelligence collaboration with American Express. “The Next Generation of Insurance: Meeting the Digital Expectations of Young Insurance Consumers”
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