OneShield Software Enhances Digital Strategy with the Introduction of TESL
OneShield has launched its Transaction Engine Service Layer, delivering major enhancements to its core framework and expanding its web services capabilities.
Marlborough, MA – January 23rd, 2018: After more than a year of design, coding, and testing involving teams in three countries, OneShield Software (www.OneShield.com) has deployed significant refinements to its cloud-hosted “As-A-Service” (AAS) technology platform for financial services core systems.
Making the most of each customer interaction is at the forefront of OneShield’s technology strategy and its core platform has been enabled to run in a headless manner. Now external applications can execute business transactions remotely using the Service-Oriented Architecture-based (SOA) Web Services built-in to OneShield Software solutions with the service layer facilitating “headless transaction processing”. Ultimately, this means insurers have a completely configurable end-to-end software platform that digitizes and simplifies almost every stage of the insurance policy lifecycle using a mix of OneShield and third-party solutions.
OneShield’s Transaction Engine Service Layer (TESL) implements a collection of vendor and product-independent Service-Oriented Architecture (SOA) Web Services. As the name suggests, this collection of services allows external applications to remotely execute business transactions on the OneShield platform. Any processing that has traditionally been tied to the User Interface, or available solely within the platform, has been de-coupled and made available as a service. These services enable external systems to exchange data with the OneShield platform using operations like create, read, search, update and delete and to use it as a data repository for customer business entities. These services also expose insurance product definitions to third-party systems – enabling, for instance, portals or specialized functional applications such as risk-management.
“The added benefits arising from this project include enhanced performance and further realization of the total cost of ownership benefits of OneShield’s platform,” says Rakesh Parikh, OneShield’s Vice President, Product Engineering. “With TESL, OneShield clients can expedite integrations to an even wider range of third-party applications thereby lowering implementation costs.”
Additionally, TESL also greatly enhances OneShield’s web portal capabilities. “Our web portals already provided a variety of self-service options for our clients’ customers, agents, brokers and other third parties,” says Parikh. “With TESL, clients can access a robust framework for building additional services for B2B and B2C needs, and any process implemented on the platform can be exposed AAS.”
TESL in Action
The TESL Project was a collaborative effort with OneShield client Erie Insurance of Erie, Pennsylvania. An American multi-line insurance company, Erie Insurance offers customers a variety of products, including auto, home, commercial and life insurance through a network of independent insurance agents in 12 states and the District of Columbia.
“At the core of our business is a clear directive from our co-founder, H.O. Hirt: ‘Never lose the human touch,” said Ruben Fechner, Senior Vice President of Business Applications & Support for Erie Insurance. “OneShield’s platform capabilities were critical in helping us work towards that goal by providing for a robust web portal for our agents.”
For example, Erie wanted its agents to access aspects of the OneShield platform dealing with product management, data repository and transaction processing. “The OneShield team partnered with us every step of the way from conception through TESL project completion,” said Fechner.
TESL also provides “Headless Policy Transaction Processing” leveraging the OneShield Exchange Format (OXF) variation of XML. Notably, the OXF format provides configurable XML for service operation request and response payloads.
“Our enhancements to TESL are just the latest example of OneShield’s continued commitment to leveraging the strength of our cloud-based technology platform,” says Vivek Gujral, Chief Technology Officer of OneShield. “As more businesses look to web portals and self-service options to empower customers, agents and third parties, we predict rapid growth in demand for this capability to integrate external and internal applications. OneShield continues to innovate to digitize the entire insurance value chain helping to address the rapid changes taking place in the insurance space today.”
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OneShield Software – OneShield.com
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OneShield Software delivers core business software solutions to the global insurance and broader financial services industry, deployed in the cloud or on-premise. Our portfolio of standalone, subscription and cloud-based software products includes enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and analytics solutions that leverage a tool-based open architecture and single data model platform to streamline your business. OneShield Software 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, Canada, and Australia, OneShield, Inc. has a total of 48 products in production across the P&C, life and health insurance markets.
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