One Inc, a digital payments network for the insurance industry connecting more than 1.3 million vendors and providers with over 320 carriers, has launched XpressOne, an expanded payment service for insurance vendors and service providers.
XpressOne gives vendors a single place to manage payments received from multiple insurers. Features include self-service payment management, automated routing by location, carrier or tax identification number, custom reporting and real-time payment visibility.
The service is designed around insurance payment workflows, where vendors often receive funds from numerous carriers across multiple locations and TINs. Instead of managing separate processes for each insurer, participating vendors use one connected system for payment administration and reconciliation.
XpressOne supports two payment methods at launch. XpressOne ClaimsCard provides a card-based option, while XpressOne Direct deposits funds into a vendor’s bank account. One Inc said support for RTP and FedNow will follow.
The company positions XpressOne differently from traditional bank rails and bill payment networks, which primarily transfer funds between parties.
XpressOne operates through One Inc’s insurance-specific payments network, giving vendors access to the same payment infrastructure across participating carriers.
Eileen Carlin, chief network officer at One Inc, said vendors shouldn’t need to reconfigure an enhanced payment service each time another carrier sends a payment. XpressOne is intended to reduce this administrative work by connecting vendors to a shared network and centralizing payment services and data.
For insurers, One Inc said the system is designed to reduce payment-related problems with vendors. Giving vendors direct control over payment settings and reconciliation should cut stop-payments, reissues, escalations and routine service-center calls.
Faster reconciliation is also intended to support higher digital payment adoption among vendors. One Inc said quicker vendor payments help insurers move claims toward resolution sooner while improving the payment process for service providers involved in repairs and other claim-related work.
Ian Drysdale, CEO of One Inc, said insurance payments depend on connections between carriers, vendors and service providers. XpressOne extends more of the company’s network functionality directly to vendors, giving them additional tools for managing claim payments while reducing administrative work between the parties.
