GAINSCO Auto Insurance, a property and casualty insurer specializing in minimum-limits personal auto insurance, has extended its partnership with One Inc and upgraded to the newest version of ClaimsPay, One Inc’s outbound payments solution, to enhance digital claims disbursement capabilities for policyholders and vendors.
GAINSCO has utilized ClaimsPay for over five years, which has allowed the company to provide policyholders with increased flexibility in receiving claims disbursements and faster access to funds through modern payment options. The upgrade introduces additional payment methods such as Push to Debit, PayPal, and Venmo, complementing existing ACH and virtual card disbursements.
The enhanced ClaimsPay solution also enables GAINSCO to leverage One Inc’s Vendor Network, which has resulted in a 66% digital adoption rate for vendor payments. This streamlines the lienholder payment process, which is critical for the complex multi-party payments common in insurance claims. ClaimsPay is specifically designed to manage these intricate payment flows for insurers.
Ian Drysdale, CEO of One Inc, commented on the extended collaboration, stating that the upgrade grants GAINSCO expanded access to advanced features and ensures a quicker rollout of future enhancements for the insurance-focused platform. He emphasized One Inc’s commitment to uniting the industry ecosystem.
Sandy Roman, Director of Claims Strategy at GAINSCO, noted that adopting ClaimsPay has streamlined operations and provided a modern, seamless payment experience that policyholders had requested. Roman expressed enthusiasm for extending the relationship and exploring new technologies to further improve the claims process.
A report commissioned by One Inc, “Behind the Wheel of Trust: How Auto Claims Shape Customer Loyalty” by industry analyst Celent, indicates that fast and flexible claims payments are crucial for policyholder loyalty, often outweighing concerns about rising premiums. The study identified payment speed and digital choice as key factors in a positive claims experience.
One Inc is a digital payments network dedicated to modernizing the insurance industry for over 300 carriers. The company specializes in insurance, aiming to reduce costs, enhance security, and improve customer experience through its all-inclusive digital payments platform. One Inc processes $120 billion in premiums and claims annually and has been recognized on CNBC’s Top Global Fintech Companies list twice and the Inc. 5000 list for four consecutive years.
GAINSCO Auto Insurance focuses on the non-standard personal auto insurance market and sells policies in over 20 states through independent agents and digital channels. Its insurance operations are conducted via MGA Insurance Company, Inc.
