One Inc Partners LIDP for Life Insurance Payment Platform

One Inc has announced a partnership with LIDP to integrate its PremiumPay inbound solution into the policy administrator's platform. 

The collaboration aims to deliver a payment experience for LIDP's life insurance carrier customers by implementing One Inc's PremiumPay solution.

LIDP has over 40 years of product and service expertise with its Titanium platform. The company provides carriers with configurable support for thousands of life and annuity products. 

Its real-time product configuration and the integration of PremiumPay will help life insurance companies optimise operations across the policy lifecycle from product setup to payment processing.

The partnership enables LIDP's carrier clients to accept premium payments through digital wallets including Apple Pay, Google Pay, PayPal and Venmo alongside traditional methods such as cheques, major debit and credit card brands, and automated clearinghouse payments.

Digital Payment Integration Expands Options

PremiumPay will allow LIDP's carrier clients to customise payment processes, enhance communication and reconciliation, and integrate payment functions on a secure platform. 

The solution provides carriers with the option to offer their policyholders premium payments via consumer platforms in addition to traditional methods.

"One Inc's best-in-class solutions and their commitment as a leader in digital payments made partnering with them an easy decision," says Kimberly Duke, CMO and Senior VP of Growth at LIDP. 

"Offering PremiumPay solidifies our responsibility to deliver innovative solutions that tackle the unique challenges of the life insurance industry. We're excited to work with One Inc to enhance our operations and drive our digital transformation to deliver a premier customer experience."

The integration connects to LIDP's existing product configuration capabilities, allowing carriers to establish payment processing alongside product specifications. 

This eliminates the need for separate payment implementations for carriers using LIDP's administration services.

One Inc describes itself as the leading payments network for the insurance industry. The company's platform connects insurance participants with financial institutions and payment processors across premium collections, claims payments, and commission distributions.

Platform Modernisation Targets Efficiency

LIDP operates as a provider of digital solutions for policy and contract administration. The company's Titanium platform offers carriers fully configurable support for life and annuity products through what it describes as out-of-the-box functionality.

The PremiumPay integration extends LIDP's real-time product configuration capabilities to include payment processing operations. 

Carriers can configure payment acceptance rules, establish automated payment routing, and access transaction reporting through LIDP's administrative interfaces.

The partnership addresses carrier demand for expanded payment options within existing policy administration workflows. 

Traditional premium payment methods remain dominant in life insurance, but carriers increasingly seek digital alternatives to meet policyholder expectations.

LIDP's carrier customers will implement the PremiumPay solution according to their operational requirements and policyholder demographics. 

The platform supports both individual and group policy payment processing across different carrier business models.

The collaboration reflects broader industry movement toward digital payment acceptance as carriers adapt to evolving market trends. The partnership positions both companies to address what they describe as the unique challenges of the life insurance industry.

One Inc and LIDP say the integration will help carriers provide policyholders with expanded payment options whilst maintaining existing administrative workflows. 

The solution operates within LIDP's established platform infrastructure rather than requiring separate system implementations.

"The partnership ensures that LIDP can provide its life insurance policyholders with a modern, streamlined payment experience while staying ahead of the evolving insurance market trends," says Ian Drysdale, CEO, One Inc. 

"The synergies between LIDP and One Inc were quite clear from the beginning — beyond solutions, we are both aligned on our goal to further the digital transformation of the insurance industry. 

“Together, we're helping to drive innovation and set a new standard for how carriers engage with customers in the digital age."