(Image credit: IIR.)
One Inc (Folsom, Calif.) has launched XpressOne, a vendor-payment service designed to simplify how repair shops and other claims service providers receive and reconcile payments from insurers.
Eileen Carlin, Chief Network Officer, One Inc.
XpressOne gives vendors a single place to manage payments across multiple carriers, locations and tax identification numbers (TIN). Features include self-service payment management, automated routing by location, carrier or TIN, custom reporting and real-time payment visibility.
The service includes two payment options: XpressOne ClaimsCard, a card-based payment method, and XpressOne Direct, which sends funds directly to a vendor’s bank account. One Inc says support for RTP and FedNow is planned.
“A vendor shouldn’t have to reconfigure their enhanced payment solution every time a different carrier sends them a payment,” comments Eileen Carlin, Chief Network Officer, One Inc. “By connecting vendors to a shared network and giving them a single place to manage enhanced services and data, we’re helping remove friction that has existed in the industry for far too long.”
Reducing Friction in Claims Payments
Ian Drysdale, CEO, One Inc.
For carriers, One Inc positions XpressOne as a way to reduce payment-related service activity, including stop-payments, reissues, escalations and routine calls from vendors.
The company also says improved reconciliation and faster vendor payments can increase digital-payment adoption and help move claims toward resolution more quickly.
“Insurance payments are ultimately a network challenge,” comments Ian Drysdale, CEO, One Inc. “With XpressOne, we’re bringing the power of our network directly to the vendors and service providers who help keep claims moving.”
One Inc reports that its insurance payments network connects more than 1.3 million vendors and providers with more than 320 carriers. The company says it has more than $230 billion in annual payment volume under contract.