Marlborough, MA – April 22nd, 2021: To rapidly ramp up its market presence with specialty products in the wholesale marketplace for Excess Transportation Liability (XTL) insurance of large cargo movements, Upland Capital Group (UCG) (www.uplandcapgroup.com) of Dallas, TX has gone live in 90 days and writing new business on its first day in the market with OneShield Software’s (www.OneShield.com) SaaS offering, OneShield Market Solutions.
Working closely with OneShield’s implementation team, Upland Capital Group was rating, quoting, and binding its first product within three months from signing with OneShield, a week ahead of its targeted timeline.
With a $200-million equity investment, the specialty insurance company initially surveyed the technology market with very specific technical requirements to fulfill its strategic goals – technology that would allow the company to get to market quickly and also scale as UCG grows. Additionally, the technology vendor needed to have readily available insurance content that could be leveraged “as-is” while also allowing UCG to tailor its offerings and servicing for wholesale brokers in the XTL market.
OneShield is providing Upland with automated solutions for policy, billing, claims, and reporting, all with full end-to-end services. “We are pleased to partner with OneShield,” says Todd C. Hart, CEO of Upland Capital Group. “As a new company, we are not beholden to any legacy technology, so we did a thorough search for software that could meet today’s specialty insurance needs. OneShield’s comprehensive SaaS offering and ongoing support were in line with what we needed as we launched our company.”
OneShield Market Solutions’ SaaS platform matched and exceeded all of UCG’s search requirements. OneShield provides out-of-the-box insurance content and functionality for policy management from quoting, binding, and servicing, for billing from invoicing through to payment, and for claims administration from first notice of loss through to payment, including document management, reporting, and analysis – all of which is configurable for bespoke and company-specific required changes. “OneShield’s capability to automate many workflows and processes in the insurance lifecycle was particularly appealing,” notes Hart.
“OneShield is proud to form this partnership with Upland Capital Group,” says Cameron Parker, OneShield’s Chief Executive Officer. “UCG is the third start-up to join the OneShield family in a handful of months, proving that our ability to get our customers to market quickly with a scalable technology stack, a pricing model that reduces cost-to-market, and an agile and seamless implementation model are all increasingly important.”
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OneShield Software – OneShield.com
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OneShield provides solutions for insurers 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 over 50 products in production across P&C and specialty insurance markets.
For more information, visit www.OneShield.com.
About Upland Capital Group
Upland Capital Group is an E&S casualty, property, and specialty insurance provider that was founded in 2020. Based in Dallas, Texas, Upland Capital is focused on becoming the most nimble, disciplined, and profitable specialty insurer by building a great company where “we entrepreneurs” can master their underwriting craft. Upland Capital is funded with over a $200 million of equity line by Newlight Partners and executive management.
For more information, please visit www.uplandcapgroup.com.