Toronto, September 30 (Industry News) – Equisoft has announced the integration of One Inc’s PremiumPay platform into its life insurance policy administration solutions, aiming to modernize premium collections and expand payment options for carriers worldwide.
Benefits for Financial Institutions
More than 300 financial institutions globally use Equisoft’s platforms. With PremiumPay embedded, insurers will now be able to:
- Reduce manual processing.
- Provide customers with a modern, seamless payment experience.
- Offer a wide range of payment options including Apple Pay, Google Pay, PayPal, Venmo, and traditional methods.
“This out-of-the-box integration enables carriers to digitalize premium collections, enhancing agility, efficiency, and customer experience,” said François Levasseur, Vice President of Global Alliances and Acquisitions at Equisoft.
Meeting a New Generation of Policyholders
Ian Drysdale, CEO of One Inc, emphasized that younger policyholders demand digital-first solutions that align with their tech-savvy lifestyles.
“Our partnership with Equisoft empowers insurers to meet these expectations, ensuring they remain relevant and competitive in an industry undergoing a generational transformation,” Drysdale said.
The integration reflects how insurers are adapting as millennials and Gen Z become the largest customer base, replacing baby boomers.
Industry Context and Adoption
Drysdale noted that the digitalization trend in insurance extends beyond premium payments to include claims management, with some insurers now able to close claims entirely via text message.
The PremiumPay solution has gained traction across the sector:
- Adopted by Columbia Insurance Group in January 2025.
- Became AAA Life Insurance Company’s primary digital payment platform in May 2025.
- Added to LIDP’s Titanium platform in June 2025.
“Offering PremiumPay solidifies our responsibility to deliver innovative solutions that tackle the unique challenges of the life insurance industry,” said Kimberly Duke, CMO and SVP of Growth at LIDP.
Outlook
With insurers under pressure to deliver seamless digital experiences, the Equisoft–One Inc integration underscores a larger industry shift toward modernization and customer-centric technology.