OneShield is branching out from its core business serving large P&C and general insurance companies with new offerings that address the needs of managing general agencies, third-party administrators, workers compensation administrators, self-insureds and mutual carriers.
OneShield’s new offering for managing general agencies (MGAs) automates workflows for managing submissions, rating, generating proposals, tracking carrier clearance and binding multiple lines of business for multiple carriers.
The new offering for third-party administrators (TPAs) provides claims administration capabilities including account management, TPA time-tracking and billing, document management and reporting/analysis that are configured “out of the box” for P&C, automobile, general liability, workers' compensation and other business lines.
For workers compensation administrators, OneShield has created a unified software solution for rating, quoting, policy management, billing and claims administration that also features a self-service web portal for customers, as well as analytics for flagging cases that may warrant further investigation.
For self-insureds, OneShield is offering a package that streamlines management of risk pools and affinity groups—in addition to providing workflows for submissions, contract management and compliance.
Finally, OneShield unveiled a system for both mutual and regional carriers that handles everything from carrier submissions and policy renewals to claims intake and file closure.
The offereings can be implemented on-premises or under a cloud/SaaS model. The latter model may be especially appealing to smaller agencies that want to gain the benefits a sophisticated application suite offers in terms of customer experience and business agility, while at the same time reducing IT overhead and accelerating time-to-benefit.
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