Integrated with our policy solution, this complete billing component uses automated workflows with client-defined rules to control results for each financial transaction entered into the system — effectively reducing leakage and potential human errors in manual recordkeeping.
When we ask our clients why they continue to choose OneShield, they say it is the “OneShield Experience” — the positive impact of working with our people, our products, and a decade’s worth of proven and successful implementations. They choose OneShield because… we get it.
Ready to transform your business?
Looking to add organizational agility, operational efficiencies, unlimited scalability, collaborative access, and flexibility to your business?
Consider cloud-based “As-A-Service” technology: out-of-the-box integration frameworks and functionality, unlimited scalability, workflow automation, disaster recovery and failover protection, 24/7 technical support, and data security.
Working in the cloud with OneShield Software allows your business to be nimble, efficient and cost-effective — eliminating manual-based operations, enhancing speed-to-market, enriching analytics, and improving your bottom line.
AAS is why 95% of IT spending is expected to shift from in-house to the cloud by 2025, why 4 out of 5 carriers want to digitize core insurance operations, and why 66% of insurers are moving to the cloud to reduce overall cost of process deliveryt.
tSource: HFS Research November 2015
- Integrated Billing module uses a configuration process to create and maintain billing plans that match the components of your policy premium.
- Depending on your arrangement, the system allows defining invoicing for direct- or broker-billed options and transactions such as dues, fees and miscellaneous items.
- Full accounting support is provided, allowing the system to create billing and invoice transactions that can be interfaced to any third-party accounting system.
For the cloud-based solution, the technology requirements are simple — any Web-enabled workstation can access the system. A secure URL and login credential presents users with easy access, based on a security profile defining their rights and privileges to the system. OneShield can also accommodate clients who need a local instance of this solution — providing options for Oracle or Microsoft SQL Server.
Other Key Features
- Financial Summary screen showing accumulated claim totals for reserves, paid-to-date, recoveries, and total incurred amounts for each loss and expense category.
- Dynamic drill-down capability from any total amount in the Summary section to its composite transactions displayed in the Details section.
- Accounting support for reserves, reserve changes, manual and computerized issuing of payments, capturing expected recoveries, recording receipts/refunds/recoveries, reserve history adjustments, and scheduling of repetitive payments (with or without benefit calculations).
- Automated policy limit checking and user authority limit validation.
- Client-configurable Reserve and Sub-reserve Categories.
- Bulk Payments and Bulk Receipts.
- Web portals to provide and access role-appropriate information related to a claim, as well as a B2B Portal for business partners (repair shops, contractors, medical providers etc.) allowing access to and sharing of information and actions for supply chain partners.
- Automated fraud scores and identification
- Customer Center providing a 360-degree view of existing and prospective accounts, brokers, vendors, insurers, carriers and representatives.
- Integrated Journal Management, including one-time and recurring diary entries with automated escalation, system and user-created notes, correspondence generation from templates, and embedded email integration.
- User Administration and Configuration Control Panel with standard integration to third party financial and general ledger systems.
- User Dashboard, allowing each user to begin with a Home Page providing a complete snapshot of appointments, daily activities, critical alerts and open workflow steps. Users also have quick access to all open submissions and direct access to action items, contacts, reports, financials, search and administration.