Mutual Benefit Group adopts digital claims payments via One Inc
Mutual Benefit Group has adopted the ClaimsPay platform from One Inc to manage outbound disbursements. The insurer aims to streamline payment processes for its policyholders in Pennsylvania and Maryland by using the digital solution.
Digital disbursements
The new platform provides policyholders with several payment options, including Venmo, PayPal, and traditional direct payment methods. Mutual Benefit Group is seeking to address policyholder expectations for faster claims payment and greater choice in how they receive funds.
The organisation serves more than 58,000 policyholders through over 300 independent agent locations. The shift to digital disbursements is intended to improve policy efficiency and customer satisfaction.
Vendor access
The implementation grants Mutual Benefit Group access to One Inc's Vendor-Provider Network, which connects the insurer to over 1.1 million vendors across different industries. These include autobody shops, contractors, and healthcare providers, broadening the provider options available when settling claims.
The Vendor-Provider Network is utilised by 290 insurance carriers across the United States, allowing insurance companies to make payments directly to vendors as part of claim settlements.
Policyholder experience
Shannon Davis, Vice President - Claims at Mutual Benefit Group, outlined the company's rationale.
"A claim is the moment of truth for any insurance policy. Securing quick, efficient payment options allows our policyholders to begin the restoration process quickly by receiving payment in the manner they choose. Mutual Benefit is excited about our partnership with One Inc because it enhances our ability to deliver the MBG Experience. One Inc was the clear frontrunner for us due to its history of working with insurance carriers and its wide array of payment offerings."
Industry changes
One Inc claims to process USD $120 billion in premiums and claims annually and has established a client base of over 290 carriers. The shift towards digital payments follows broader trends in the insurance industry to speed up claims processing and reduce administrative overheads.
Ian Drysdale, CEO, One Inc, commented on the partnership, "As consumer expectations continue to evolve rapidly, it is essential that carriers have access to the right technologies to meet those needs and remain competitive. We are honored to partner with Mutual Benefit Group to help them provide modern payment experiences and deliver on the promise of insurance."
