CapSpecialty is committed to being the preferred specialty insurance provider for small and mid-sized businesses across the U.S. CapSpecialty needed to move its book of business to a new platform and launch an agent platform to keep pace with the industry.
The OneShield Policy framework provided the flexibility to develop the feature set CapSpecialty needed and facilitated the conversion of 20 years of bond data from two systems.
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 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