(Image source: Gainscoracing.com).
GAINSCO turned to One Inc for a more competitive payments solution in order to answer increasing consumer demand driven by new digital-first entrants into the personal auto market, according to a vendor announcement. GAINSCO chose the ClaimsPay solution as part of a strategic transformation initiative to optimize the customer claims experience and improve operational efficiency, the One Inc announcement says.
“Consumer expectations are increasing every day. They want to do business on their terms, which includes choosing their preferred method of claim payment,” affirms Greg Castleman, SVP and Chief Claims Officer, GAINSCO. “Partnering with One Inc as our digital payment and disbursement provider is a strategic win for GAINSCO and our customers. The integration of One Inc’s ClaimsPay platform will provide a modern, clean and easy-to-use interface that streamlines the payment process for customers and claim representatives. This technology should remove some of the hassle and speed up the claim settlement process. That is a win for everyone involved.”
Among the advantages GAINSCO enjoys through its adoption of ClaimsPay is the ability to integrate directly into existing claims management systems through the use of configurable, branded, or white-labeled portals, according to One Inc. That integration capability means the solution will be able to immediately enable digital approvals, making it easier for multiple parties to approve a claim, and for claimants to get paid quickly, the vendor says. One Inc will also handle GAINSCO’s payments to vendors through ClaimsPay.
Significant Differentiator for Insurers
“Introducing digital payment options into the claims process can be a significant differentiator for insurers today, especially for those in the fast-moving personal auto space,” comments Christopher W. Ewing, CEO of One Inc. “We look forward to working with GAINSCO to continue to enhance their digital payments capabilities as we go forward.”