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 staff.
Established in 2012, One Inc is engaged in aiding insurance coverage corporations in modernising their cost techniques.
The corporate’s platform presents a seamless expertise by consolidating all cost flows and integrating with each trendy and legacy core techniques.
With a workforce of almost 500, One Inc processes annual funds of $70bn and caters to greater than 240 insurance coverage trade 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 stated: “The sector expertise and sources that Nordic Capital and Nice Hill carry to this partnership will gas extra product innovation and drive new alternatives for progress as we proceed to offer options that enhance effectivity and increase income for at the moment’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 companion Mohit Agnihotri and expertise & funds companion and head Fredrik Näslund stated in a joint assertion: “Nordic Capital is a longtime admirer of One Inc, which has stood out for fixing the distinctive and complicated challenges of digital funds within the insurance coverage trade.
“Via its progressive options, the Firm is reworking and simplifying funds for your entire 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, intensive community, and energetic proprietor method to gas 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 almost actual time.
