OneShield has reached an agreement to acquire strategic and intellectual property assets of Clear Data Strategies.
CDS provides subscription cloud-based and site-installed software for claims processing and policy administration for P&C market. Customers of its Instream and Pyramid products include mid-sized and niche carriers, self-insured organizations, specialty workers’ compensation providers requiring full NCCI compliance, and TPAs and MGAs.
OneShield will absorb and support the CDS product line, and use it to enhance its own claims administration product, currently in development, and target “lower-tier carriers as well as specialty niche markets, where hosted and cloud-based solutions are increasingly popular,” the company said.
Among key CDS executives joining OneShield will be CEO Bill Kuebler, who has more than two decades of experience in insurance technology.
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