MMIC Insurance Inc, a medical liability insurance company, will use OneShield, a software company for the P&C and general insurance industry, to transform its core systems technology.
OneShield Insurance Software is a software platform that automates and simplifies the stages of the insurance policy lifecycle. The application’s built-in tools enable business and technical team members to work together to reconfigure product offerings, the user interface, workflows, rates, rules, forms, and transaction processing methods. This is done without writing a line of code or hiring outside help. The platform also will give MMIC the ability to make product changes swiftly.
MMIC is implementing components for policy management, billing, rating, claims, third-party partner management, reinsurance cession, reporting and analysis, and other core systems tools. The core policy management implementation offers MMIC the opportunity to change things in its legacy software system that had been challenging, the company said. MMIC also will work with OneShield to develop a new claims processing component for the OneShield suite that will allow clients to automate and self-configure aspects of the software, including workflows, processes, user interface and rules.
"What stood out for us in OneShield's solution is how much of the system is configurable and doesn't require custom programming,” said Deb Penrod, MMIC's VP of information technology and CIO. “Also, giving our agents the ability to access our system via a secure web portal is key from a sales and marketing perspective. Finally, and perhaps most importantly, with this robust solution, MMIC will be able to seamlessly integrate its insurance affiliates onto one platform, furthering of the major benefits of Constellation, MMIC's parent organization."
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