Improving service level response times, increasing overall efficiencies and end-to-end system support for their middle-market business were the main goals of the premier provider of property insurance in catastrophe-exposed regions
Marlborough, MA — July 14th, 2016; ICAT of Broomfield, CO, has automated and streamlined manual processes using OneShield Enterprise, a fully integrated, secure and configurable end-to-end policy administration solution.
ICAT clears 40,000+ catastrophe insurance submissions each year and runs a good majority of these submissions through per account CAT risk modeling and underwriting reviews. ICAT produces thousands of middle-market quotes each year alongside managing a large renewal book. Until now, the majority of this work was managed using multi-step and often complex manual processes.
OneShield’s platform empowered ICAT to automate key aspects of its submission management, clearance, rating, modeling, and quoting processes, as well as referral workflow, document filing, operational processing of secondary transactions and policy issuance. “The automation of central aspects of our underwriting process will significantly enhance our ability to respond quickly and efficiently to the needs of producers, agents and their customers with a single platform solution that eliminates redundancies,” says Gregory Butler, ICAT’s President. “OneShield worked closely with our team to ensure its technology platform not only replaced our legacy processes but also expanded our system capabilities for future growth.”
OneShield’s robust workflow engine now enables ICAT’s underwriters to have the ability to access an online, integrated end-to-end underwriting and processing platform that automates workflows, reduces inefficiencies, and allows ICAT to deliver faster turnaround time to producers.
Key to ICAT’s selection decision was choosing a technology platform that would effectively integrate with ICAT’s own proprietary technologies, enabling a seamless and integrated solution with enterprise-class third-party software services unique to the risk management field. Models can now be run easily from within OneShield’s solution. OneShield and OneShield Insurance Software are registered trademarks of One Shield, Inc. Other capitalized terms used herein are also protected marks of OneShield, Inc. Copyright 2013 – 2016 by OneShield, Inc. All rights reserved.
“OneShield is proud to have worked in collaboration with ICAT to bring this project to fruition,” says Glenn Anschutz, OneShield’s Chief Executive Officer. “This is just the latest example of adapting OneShield’s powerful technology platform to the needs of yet another unique market segment in the financial services sector.”
For more information or to schedule a media interview, please contact:
Janice Merkley VP, Marketing
Telephone: +1 774-348-1000
OneShield provides business solutions for P&C insurers and MGAs of all sizes.
OneShield’s cloud-based and SaaS platforms include enterprise-level policy management, billing, claims, rating, relationship management, product configuration, business intelligence, and smart analytics.
Designed specifically for personal, commercial, and specialty insurance, our solutions support over 90 lines of business. OneShield’s clients, some of the world’s leading insurers, benefit from optimized workflows, pre-built content, seamless upgrades, collaborative implementations, and pricing models designed to lower the total cost of ownership.
Our global footprint includes corporate headquarters in Marlborough, MA, with additional offices throughout India.
For more information, visit www.OneShield.com