Exploring a reciprocal insurance exchange's transformation from outdated legacy systems to an agile Software-as-a-Service (SaaS) platform.
The landscape of insurance today is a fusion of tradition and innovation, blending time-tested risk assessment principles with rapid advancements in data analytics, artificial intelligence, and digital platforms.
One organization that has encountered both challenges and opportunities in this evolving landscape is the Medical Insurance Exchange of California (MIEC), a distinguished member-owned reciprocal insurer serving over 7,400 healthcare professionals across California, Hawaii, Alaska, and Idaho.
From a technological perspective, MIEC operated on a legacy, in-house technology platform for nearly 47 years. Although it had a contemporary user interface and high service levels, over time, the old system became fragmented as each medical provider within MIEC developed its own rules, leading to a disjointed and complicated system.
The vision? A unified, comprehensive policy management platform that further enhances the experience for all stakeholders. The missing link was a partner who could transform this vision into reality.
OneShield is proud to be an affiliate member of the Medical Professional Liability Association.
“We are thrilled to have played a pivotal role in supporting MIEC throughout this transformative project and eagerly anticipate their continued expansion on our platform...”
Long recognized as a pioneer in the medical malpractice insurance space, MIEC’s senior leadership decided to embark on a transformative technology journey — eventually embracing OneShield Market Solution’s cutting-edge SaaS platform.
For insurers, SaaS platforms deliver unmatched value through:
Cost-efficiency
Scalability
Accessibility from anywhere
Automatic updates
Rigorous data security and compliance measures
These platforms optimize operations, drive innovation, and enhance flexibility, making them indispensable tools for modern insurance operations.
MIEC's decision to transition to SaaS aligns with its commitment to evolution, cost-effectiveness, and further enhanced service excellence. The next step was to find the right SaaS solutions provider.
MIEC confronted a massive task: revamping its legacy home-grown policy management system with minimal disruption. OneShield, a comprehensive SaaS platform tailored for medical liability insurers, emerged as the ideal solution. It seamlessly combined MIEC's malpractice expertise with technical excellence.
Leveraging OneShield's experienced team of system migration and implementation professionals, the OneShield Market Solution (OMS) SaaS platform became more than just software; it became a strategic enabler.
With OMS, MIEC reaped immediate benefits:
Swift Policy Issuances: Reduced turnaround times, resulting in satisfied customers.
Comprehensive Underwriting: Providing insights for sound decision-making.
Efficient Claims Management: Ensuring prompt claims processing.
The platform’s integrative capabilities stood out, promising transformative changes in:
Payment options
Dividend disbursements to exchange members
Claims processing
For MIEC, OneShield delivered:
An agile implementation team to help facilitate a seamless transition
A unified platform for a frictionless experience for agents and insureds
Transparent workflows and data access for trend analysis
Quick platform configurations focused on unique complexities of medical professional liability
A robust API for future integration and data extraction
A ground-breaking transformation requires a proven technology partner.
In 2023, MIEC went live with the OMS SaaS platform. Leveraging OMS's advanced features, MIEC has moved into the digital-first landscape — offering separate portals for insureds and underwriters, successfully integrating with critical third-party systems, and embracing panoramic visibility to foster collaboration, better decision-making, and exceptional service levels.
“We are thrilled to have played a pivotal role in supporting MIEC throughout this transformative project and eagerly anticipate their continued expansion on our platform,” said Rex Blazevich, President of OneShield Market Solutions. “The successful implementation of OMS for MIEC’s medical malpractice insurance operations showcases our commitment to delivering tailored, industry-specific software solutions that empower our clients to thrive in an increasingly competitive marketplace.”
“We are thrilled to have played a pivotal role in supporting MIEC throughout this transformative project and eagerly anticipate their continued expansion on our platform. The successful implementation of OMS for MIEC’s medical malpractice insurance operations showcases our commitment to delivering tailored, industry-specific software solutions that empower our clients to thrive in an increasingly competitive marketplace.” — Rex Blazevich, President of OneShield Market Solutions
“We are thrilled to have played a pivotal role in supporting MIEC throughout this transformative project and eagerly anticipate their continued expansion on our platform. The successful implementation of OMS for MIEC’s medical malpractice insurance operations showcases our commitment to delivering tailored, industry-specific software solutions that empower our clients to thrive in an increasingly competitive marketplace.”
— Rex Blazevich, President of OneShield Market Solutions
“MIEC has always been committed to delivering the highest quality of service to our policyholders, and the implementation of OMS marks a significant milestone in our growth journey. By partnering with OneShield, we have equipped ourselves with a robust platform that will enhance our current operations but also provide the scalability required to meet the evolving demands of the insurance industry. We are excited about the potential for continued success and innovation this collaboration brings.” — Lakshmi Lakshminarasimhan, MIEC’s Director, IS/IT & Innovation
“MIEC has always been committed to delivering the highest quality of service to our policyholders, and the implementation of OMS marks a significant milestone in our growth journey. By partnering with OneShield, we have equipped ourselves with a robust platform that will enhance our current operations but also provide the scalability required to meet the evolving demands of the insurance industry. We are excited about the potential for continued success and innovation this collaboration brings.”
— Lakshmi Lakshminarasimhan, MIEC’s Director, IS/IT & Innovation
“Our experience with OMS has been one of true partnership and collaboration, and we look forward to a long-term relationship. With additional capabilities on the horizon, we're poised to expand our business, and continuously improve our service while simultaneously reducing operating expenses.”— Andy Firth, MIEC President
“Our experience with OMS has been one of true partnership and collaboration, and we look forward to a long-term relationship. With additional capabilities on the horizon, we're poised to expand our business, and continuously improve our service while simultaneously reducing operating expenses.”
— Andy Firth, MIEC President
No technology journey is without its challenges. However, MIEC’s experience with OneShield stands testament to what genuine partnership and collaboration can achieve.
MIEC provides medical professional liability insurance to physicians, medical groups, acupuncturists, and other healthcare professionals in the U.S. West, including Alaska, California, Hawaii, and Idaho. Founded in 1975 and headquartered in Oakland, CA, MIEC is owned and operated for the benefit of over 7,400 members.
MIEC was created by physicians and operates its business for the benefit of its membership as demonstrated by a virtually unrivaled program of policyholder dividends that has substantially reduced the costs of MPL insurance to its membership.
For more information, visit: miec.com
OneShield Market Solutions (OMS) is a fully managed SaaS policy administration and feature-rich claims solution pre-loaded with insurance content, workflows, and rules, all customizable for your unique and evolving needs.