Catastrophe insurer ICAT has implemented OneShield as its policy administration vendor.
The new platform allows ICAT to automate its submission management, clearance, rating, modeling, and quoting processes, according to the companies. Additionally, OneShield Enterprise grants the insurer’s underwriters access to an online end-to-end underwriting platform which delivers faster a turnaround time to producers. ICAT clears more than 40,000 catastrophe insurance applications every year.
“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," said Gregory Butler, ICAT's president, in a statement. "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."
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