FOR IMMEDIATE RELEASE
OneShield, Inc. Launches New Core System Software Portfolio Supporting Specialized Insurance Market Sectors Through Cloud- and Subscription-Based Pricing Models
Newly launched OneShield Market Solutions group to provide proven enterprise-class software solutions for niche insurance markets, including MGAs, TPAs, Workers Compensation Administrators, Risk Pool Organizations, and Regional Insurers
Marlborough, MA — January 26, 2015: OneShield, Inc., the leading core systems software provider of OneShield Enterprise for the global P&C and General insurance industry, has launched a new portfolio of software solutions designed specifically to meet the unique needs of niche market providers of insurance services and products.
OneShield Market Solutions will provide enterprise-class, time-tested and proven core system insurance software solutions through standalone, subscription-based and cloud-based business models. These solutions enable smaller providers of insurance services and specialty products to compete and grow their businesses using the same powerful technology tools available to major insurers.
“These software solutions, out-of-the-box and delivered via the cloud for relatively little upfront investment, enable specialized service providers, such as Regional Carriers, Managing General Agencies (MGAs) and Third-Party Administrators (TPAs), to have a fully-functioning core system platform to run all aspects of their business,” says Glenn Anschutz, OneShield’s Chief Executive Officer. “Our cloud-based core systems allow insurance organizations to deploy a customer-centric operating model that is configurable to how they do business, and helps reduce overhead expenses, enhanced service quality, and ramp-up business acquisition capabilities and new product speed-to-market.”
All OneShield Market Solutions are delivered in a secure cloud-environment, focused on lowrisk deployment and time-to-market advantages. Each offering is function and feature rich with pre-existing content and workflows that are easily configured by a powerful design tool. The solutions portfolio includes Core System Software for:
Managing General Agencies An end-to-end policy management system that provides the ability to manage submissions, rate, generate proposals, track carrier clearance and even bind multiple lines of business for multiple carriers — complete with automated workflows and rules.
Third-Party Administrators A fully functioning claims administration system with account management, TPA billing and time tracking, document management, and detailed reporting and analysis — supporting various lines of business including workers’ compensation, general liability, property, commercial automobile and specialty lines.
Workers Compensation Administrators A feature-packed NCCI compliant software platform for processing workers compensation-related submissions, rating, quoting, policy management, claim administration, billing and accounts receivable, time tracking, document management, self-serve Web portals, and detailed reporting and analysis.
Risk Pool Organizations From submissions to renewals, and on to compliance, contract management and representative compensation, Risk Pools and Affinity Groups can quickly and easily customize workflows, business rules, codes, tables, forms and documents to match unique processes and business opportunities.
Regional Insurers From carrier submissions to policy renewals, and on to claims intake and file closure, you can quickly and easily customize all the system to suit the unique needs of regional and mutual insurance companies, including setting specific rules for service level agreements, number of claims handled, pricing, special notification requirements and other variables.
For larger national and global insurers, OneShield continues to enhance features and offerings within its flagship enterprise solution. OneShield Enterprise, a configurable end-to-end core system software solution suite for policy management, claims, billing, rating, product configuration, and business intelligence and analytics. Lowering total cost of ownership, the enterprise solution cost-effectively streamlines every stage of the policy lifecycle with easily customizable interfaces, workflows, rates, rules, forms and transaction processing methods — all with detailed reporting and statistical analysis.
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