Harford Mutual Insurance Group Chooses One Inc’s ClaimsPay for Streamlined Reimbursement

Harford Mutual Insurance Group tapped digital payments network One Inc’s ClaimsPay to process claims payments and synchronize the company’s workflow, according to a joint press release Thursday (July 21).

Bel Air, Maryland-based Harford Mutual is represented by about 450 independent insurance agencies and is licensed in nine states and the District of Columbia.

“Integrating One Inc’s ClaimsPay with Origami was a natural choice as we sought to innovate this vital area of our business,” said Wayne Gearhart, vice president of Claims at Harford Mutual, in the joint press release. “Along with security, speed, and ease of the process, these technology solutions are of paramount importance to us as we upgrade our customer and employee experiences.”

Harford Mutual will integrate ClaimsPay technology with their claims administration software provider, Origami Risk, part of its quest to digitize its customer experience and streamline its property and casualty policies while reducing expenses and improving data security and compliance, the press release said.

“Instant payments deliver a compelling customer value proposition and a competitive advantage to businesses,” said Ian Drysdale, CEO at One Inc, in the company press release. “As Harford Mutual adopts new ways to be more efficient, many insurers are eyeing their claims technology to provide digital infrastructure that can help them rapidly adapt to the ever-changing needs of customers and stay ahead of the competition.”

Related: Health Insurance Disruptor YuLife Raises $119M to Expand InsurTech

Earlier this month, London-based InsurTech startup YuLife has secured more than 117 million euros (about $119 million) in a Series C funding round to expand its global operations and scale its product range, EU-Startups.com reported.

Founded in 2016, YuLife applies behavioral science and a focus on risk prevention to its insurance model, according to the report. The YuLife app enables policyholders to complete everyday wellness activities in order to earn YuCoin — which can then be spent on rewards such as Amazon vouchers or donated to good causes. More than one-third of customers engage with the platform every day.

The round was led by Dai-ichi Life Insurance Company, a new strategic investor in the company, the report stated. There was also participation from YuLife’s existing investors, including Creandum, LocalGlobe, Target Global, Latitude, Anthemis, OurCrowd, Notion, MMC and Eurazeo.