One Inc, a prominent payments network and software platform for the insurance sector, has appointed Scott G. Stephenson as Chairman of the Board of Directors. This move comes after Nordic Capital's investment alongside Great Hill Partners, reinforcing the commitment of One Inc's management team to enhance efficiency across the insurance market.
One Inc aims to streamline the insurance payment process by integrating all payment flows into a single software platform. The company boasts a robust network that includes 900,000 vendors and processes over $96 billion in annual payments, serving more than 265 leading carriers, managing general agents (MGAs), and third-party administrators (TPAs).
CEO Ian Drysdale expressed confidence that Stephenson's strategic insight will bolster One Inc's position as a leading digital insurance software and payments platform in the U.S. He emphasized the importance of Stephenson's experience and the strengths of the existing board in driving the company's growth and innovation.
Stephenson brings over two decades of leadership experience from Verisk Analytics, where he served as President, Chairman, and CEO. Under his leadership from 2013 to 2022, Verisk doubled its revenue and quadrupled its market capitalization. His tenure also saw significant shareholder returns, with a compound annual growth rate of 26.8% from 2000 to 2020. Recognized for his innovative leadership, Stephenson was named among the Top 25 Most Innovative Leaders Worldwide by Forbes in 2018.
In his new role, Stephenson expressed enthusiasm for joining One Inc during a pivotal time. He highlighted the company's focus on digital payment solutions that support the entire insurance ecosystem and looks forward to collaborating with the team to advance its vision and growth, particularly through digitalization.
One Inc is dedicated to modernizing the insurance industry by providing a unified payment network that enhances operations for over 265 carriers. The platform aims to reduce costs, improve security, and enhance customer experiences. It offers a comprehensive digital payments solution that includes various payment options, multi-channel communications, and efficient claim settlements.
Recognized by CNBC as one of the World’s Top Fintech Companies for 2024, One Inc has consistently appeared on the Inc. 5000 list of Fastest-Growing Companies for the past three years, solidifying its status as a leader in fintech innovation.
Nordic Capital, the private equity investor backing One Inc, focuses on creating sustainable businesses through operational improvements and transformative growth. With a history of investing over EUR 25 billion since its inception in 1989, Nordic Capital specializes in sectors such as Healthcare, Technology & Payments, and Financial Services, with a strong presence in Europe and globally.
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