Vermont Mutual Insurance Group Selects One Inc for Digital Payments

Rather than setting a hard ROI goal, Vermont Mutual’s objective was creating a positive payment experience in support of customer acquisition and retention.

(Hubbard Park Observation Tower, Montpelier, Vt. Photo credit: Niranjan Arminius.)

Vermont Mutual Insurance Group (Montpelier) has selected the One Inc (Folsom, Calif.) Digital Payments Platform to modernize the company’s billing and payment capabilities.

Mark McDonnell, Executive VP and COO, Vermont Mutual.

Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the U.S. The company insures over 300,000 policyholders through a network of more than 800 independent agency locations throughout the Northeast. Having been consistently recognized for security and reliability, finding a vendor and a solution that would reinforce these capabilities while also providing an improved billing and payment environment was essential to Vermont Mutual, according to a One Inc statement.

In seeking a solution, Vermont Mutual did not set a specific goal of return-on-investment, but rather sought to take the routine—and perhaps even somewhat negative experience—of making a payment and enhancing the experience for its customers, according to Mark McDonnell, executive VP and COO, Vermont Mutual.

“If we can shift that from a neutral or negative customer experience to something that isn’t viewed as a chore, we’ll feel we have achieved our goal,” McDonnell comments. “We look to this project not only to enhance our more traditional payment methods, such as payment by credit card, but ultimately enable more innovative methods, such as pay-by-text and social pay.”

Christopher W. Ewing, CEO, One Inc.

Additional factors in Vermont Mutual’s selection of the One Inc Digital Payments Platform included the solution’s ease of implementation, enablement of new payment channels, and One Inc’s successful implementation track record, according to the vendor. One Inc describes its Digital Payments Platform as a cloud-based, digital payment processing solution for both premiums and claims that offers significant digital engagement capabilities. Utilizing the One Inc Digital Payments Platform, insurers can take payment through multiple channels, including inbound and event-driven outbound, and through an integrated customer portal.

Serving a New Generation of Potential Policyholders

“It is not only important to existing policyholders to be able to pay when and where they are most comfortable, but to a whole new generation of potential policyholders as well,” comments Christopher W. Ewing, CEO, One Inc. “Working with Vermont Mutual to deliver new payment options and channels to their customers is a project we are very much looking forward to completing on time and on budget.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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