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Non-public 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 group.
Established in 2012, One Inc is engaged in helping insurance coverage firms in modernising their fee programs.
The corporate’s platform provides a seamless expertise by consolidating all fee flows and integrating with each trendy and legacy core programs.
With a workforce of almost 500, One Inc processes annual funds of $70bn and caters to greater than 240 insurance coverage trade shoppers.
Nordic Capital plans to utilise its experience to boost One Inc’s progress and product innovation.
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One Inc CEO Ian Drysdale stated: “The sector expertise and assets 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 present’s insurers.”
For One Inc, monetary advisory providers are being offered 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 steering from Kirkland & Ellis.
Nordic Capital Advisors associate Mohit Agnihotri and expertise & funds associate 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 remodeling and simplifying funds for the whole insurance coverage ecosystem benefitting carriers, customers, and distributors alike.
“Nordic Capital is thrilled to be becoming a member of them for the following leg of the Firm’s progress journey and utilising our mixed deep sector expertise, intensive community, and energetic proprietor strategy to gas One Inc’s bold 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.
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