CapSpecialty’s business experts define, develop, deploy and maintain their products in an easy‐to‐use online, real‐time bond rating, quoting and binding system. To keep pace with the industry, they needed to move its legacy book of business to a new platform and roll-out an agent platform. With OneShield Software’s collaborative team approach and in-depth subject matter expertise in the property/casualty insurance industry, CapSpecialty has been able to effectively leverage technology to positively impact its bottom line and deliver a competitive advantage within their market space.
Speed to Market
CapSpecialty needed to move its legacy surety business to a new platform and provide straight-through processing to their agents – no small task. The OneShield Policy framework provided the flexibility to develop the feature set they needed and facilitated the conversion of 20 years’ of bond data from two systems.
Service In Real-time
It was important for CapSpecialty to implement a system that could administer bonds cost effectively. Using OneShield Policy’s flexible architecture and extensive content, CapSpecialty developed Capitol Express (CapEx); a surety underwriting portal used by both retail and general agents to automate the underwriting and distribution processes.
“The company had business, technology, and regulatory drivers behind our implementation of OneShield Policy. As a result of M&A activities, we had two legacy bond administration systems that needed consolidation. We had also become a subsidiary of a publicly traded company, so tight controls for compliance with Sarbanes-Oxley were imperative. Most importantly, we needed a system that would allow us to rapidly bring enhancements and new products to market. And now several years later we still feel that OneShield gives us the ability to respond to changes in the business.”
Chief Information Officer and Vice President, Information Services