Long-duration Venture Capital Firm for Insurance Startups chooses OneShield’s SaaS for MGAs to provide optimized operational efficiencies and fuel its U.S. expansion.
Marlborough, MA – May 17, 2022: Beat Capital Partners (Beat), a highly-successful insurance industry investor in the United Kingdom, is setting its sights on the U.S. marketplace and has chosen OneShield Software’s SaaS technology platform, OneShield Market Solutions, to launch and incubate new Managing General Agents (MGAs).
Beat provides new ventures with startup funding, infrastructure, risk capital, and A+ rated paper, plus experienced guidance and support from leadership with vast insurance sector expertise.
A key to Beat’s entry into the U.S. market is the out-of-the-box features of the OneShield Market Solutions (OMS) SaaS platform. OMS provides functionality for policy management (quoting, binding, and servicing), billing (invoicing through to payment), and claims administration (first notice of loss through to payment), including document management, reporting, and analysis —all configurable for the complex requirements of MGAs.
“We conducted an extensive review of available insurance technology platforms and selected OneShield for a combination of reasons, including OMS’s all-in-one pricing model, overall system capabilities, and their deep industry experience,” says April Galda Joyce, Beat Capital America’s CEO. “OneShield’s team listened to us and clearly understood our overall business plan, and the platform itself has an excellent reputation in the startup and MGA marketplace.”
“Last year was a banner year for OneShield’s SaaS offering as many startup insurers and MGAs sought to adopt scalable and configurable applications with proven rapid time-to-market implementation timelines,” says OneShield Chief Revenue Officer Liza Smith. “We are so proud to be able to meet these same criteria for Beat Capital and look forward to partnering as they grow their business in the U.S. market.”
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About OneShield Software
OneShield provides solutions for P&C insurers and MGAs of all sizes. Deployed in the cloud, our portfolio of standalone, subscription, and As-a-Service products includes enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and smart analytics. OneShield automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades, collaborative implementations, and lower total cost of ownership. With corporate headquarters in Marlborough, MA, and offices in India, OneShield has 80+ products in production across P&C and specialty insurance markets.
For more information, visit www.oneshield.com
About Beat Capital
Beat Capital Partners (“Beat”) is a long-duration venture capital investor exclusively focused on the insurance industry, offering the right individuals and teams startup funding, infrastructure, risk capital, and A+ rated paper, alongside experienced guidance and support. Beat has launched eight businesses since its founding in 2017, which collectively wrote gross premiums in excess of $500 million (USD) in 2021 and operates Lloyd’s Syndicate 4242. Beat is backed by experienced insurance investors Bain Capital Credit, Elliott Management, and Amwins, as well as its management team, and is committed to being the best possible partner for entrepreneurial insurance talent.
For more information, visit www.beatcapital.com