One Inc, a payments network provider, and Equisoft, a global provider of digital solutions for the financial services sector, have announced a new partnership. The collaboration aims to modernize premium payment experiences for insurers and policyholders by integrating One Inc’s PremiumPay® platform with Equisoft’s life insurance policy administration solutions.

This partnership seeks to streamline premium payment processes, reduce manual tasks, and lower operational costs for insurers. It also aims to support digital transformation efforts within the insurance sector and improve the customer experience by offering a broader array of payment options. The companies noted that by embedding PremiumPay directly into Equisoft’s policy administration platform, insurers will gain access to an out-of-the-box integration that can accelerate the digitalization of premium collections.

The initiative comes at a time when the insurance industry is under increasing pressure to update its services to meet the expectations of younger, digitally proficient policyholders. This move further develops One Inc’s efforts in modernizing life insurance payments, reinforcing its role in payment innovation for insurers.

François Levasseur, Vice President of Global Alliances & Acquisitions at Equisoft, stated, “Payment modernization is an essential part of delivering cost reduction and enabling a truly digital experience in life insurance. Joining forces with One Inc allows us to provide life insurers with a pre-built and plug-and-play premium payment solution. This out-of-the-box integration enables carriers to digitalize premium collections, therefore enhancing agility as well as driving efficiency to deliver the best possible customer experience.”

Ian Drysdale, CEO of One Inc, added, “By embedding PremiumPay into Equisoft’s trusted policy administration platform, we’re not just modernizing payment options; we’re addressing the evolving expectations of a new generation of policyholders. Today’s younger consumers demand seamless, digital-first experiences that align with their tech-savvy lifestyles. Our partnership with Equisoft empowers insurers to meet these expectations, ensuring they remain relevant and competitive in an industry undergoing a profound generational transformation.”