Majesco, a global player focused on supporting cloud insurance platform software for insurance business transformation, announced a new digital payment offering for Majesco Claims for P&C customers.
This new “out-of-the-box” integration with One Inc ClaimsPay reportedly “offers fast and secure digital claims payments through the customers’ preferred channels and methods.”
This expands an already strong partnership with One Inc “bringing an out-of-the-box integration and an online payment capability in Majesco EcoExchange to the Majesco Billing for P&C platform.”
This enhancement “delivers a comprehensive, inbound-outbound payment processing solution for Majesco customers across the entire P&C Suite.”
Ian Drysdale of One Inc. said:
“As a long-standing partner of Majesco’s, we look forward to the opportunity to strengthen our role in Majesco’s collaborative partner ecosystem and expand how together we can help Majesco carriers deliver fast, convenient, and secure digital claims payments. Our previous success with premium payments is a direct reflection of our shared vision and mission to provide insurers a future-proof, robust, digital payments solution that meets their customers’ expectations.”
This new digital payment offering is “available to Majesco Claims for P&C customers that offers choice and an enriched customer experience to enhance customer retention and satisfaction.”
Payments are “disbursed through single or multi-party insurers or claimants, vendors, or lienholders, and the payee has the option to select their own payment method, including check, direct deposit, pre-paid debit card, PayPal, or Venmo.”
It reportedly “offers built-in electronic approvals and electronically manages the processing, issuance, and recording of payments.”
Its out-of-the-box integration “allows customers to quickly implement and handle digital payments and seamlessly.”
This expanded capability “meets the rapidly growing expectation of insurance customers, both consumers and business owners, for digital inbound and outbound digital payments identified in Majesco’s annual consumer and SMB research.”
Terrence Clark, GM and SVP for P&C Solutions at Majesco, said:
“One Inc continues to bring next-gen payment solutions that are top of mind for our customers. This expanded capability and integration will help our customers meet the increasing demand for digital payments that will increase customer retention, reduce costs, and reduce risk through secure digital payments based on the customers’ preferred channel and methods. We’re excited to bring this new capability to our customer base and look forward to deepening our partnership with the One Inc team.”
As noted in the update, One Inc claims it is “modernizing the insurance industry through a unified and frictionless payment network.”
Focusing only on the insurance industry, One Inc “helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience.”
The comprehensive end-to-end digital payments platform “provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases.”
As one of the fastest growing digital payments platforms in the insurance industry, One Inc claims it “manages billions of dollars per year in premiums and claim payments.”