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Tuesday, April 16, 2024

Nordic Capital invests in insurance coverage funds platform One Inc

Personal fairness firm Nordic Capital has introduced a strategic funding in One Inc, a digital funds platform for the North American insurance coverage sector.

Nice Hill Companions, an investor in One Inc since 2020, will retain a stake equal to that of Nordic Capital, alongside persevering with funding from One Inc’s administration crew.

Established in 2012, One Inc is engaged in aiding insurance coverage corporations in modernising their fee techniques.

The corporate’s platform affords a seamless expertise by consolidating all fee flows and integrating with each trendy and legacy core techniques.

With a workforce of practically 500, One Inc processes annual funds of $70bn and caters to greater than 240 insurance coverage business purchasers.

Nordic Capital plans to utilise its experience to reinforce One Inc’s progress and product innovation.

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One Inc CEO Ian Drysdale mentioned: “The sector expertise and assets that Nordic Capital and Nice Hill deliver to this partnership will gasoline extra product innovation and drive new alternatives for progress as we proceed to supply options that enhance effectivity and enhance income for right now’s insurers.”

For One Inc, monetary advisory providers are being supplied by Raymond James, JP Morgan and TD Cowen, with authorized recommendation from Goodwin Procter.

Nordic Capital is receiving monetary recommendation from William Blair and authorized steerage from Kirkland & Ellis.

Nordic Capital Advisors accomplice Mohit Agnihotri and know-how & funds accomplice and head Fredrik Näslund mentioned in a joint assertion: “Nordic Capital is a longtime admirer of One Inc, which has stood out for fixing the distinctive and sophisticated challenges of digital funds within the insurance coverage business.

“Via its progressive options, the Firm is reworking and simplifying funds for the whole insurance coverage ecosystem benefitting carriers, shoppers, and distributors alike.

“Nordic Capital is thrilled to be becoming a member of them for the subsequent leg of the Firm’s progress journey and utilising our mixed deep sector expertise, in depth community, and energetic proprietor strategy to gasoline One Inc’s formidable progress plans even additional.”

In 2021, One Inc collaborated with Mastercard to disburse insurance coverage claims to people, households and companies in practically actual time.

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