The final component of the OneShield Enterprise insurance system suite was developed with a view to meeting heightened customer services expectations, to address increasing competition in the global insurance industry, and to meet regulatory compliance challenges.
The transaction-based solution automates a manually intensive processing environment for Advantage’s PPLI business, which provides customers with variable life insurance products that offer policyholders a customized estate planning tool.
The effort will take place within the med-mal insurer’s core system transformation initiative based on OneShield’s platform.
CDS’s rich claim system functionality and SaaS technology will enhance OneShield’s reach among lower-tier carriers and specialty niche markets, where there is a greater appetite for hosted and cloud-based solutions.
The vendor’s OneShield Market Solutions group will provide proven enterprise-class software solutions for niche insurance markets, including regional insurers, MGAs, TPAs, workers’ compensation administrators, and self-insureds.
In finding a solution to digitize scale rapidly growing business operations, the insurer was swayed by OneShield’s transformation acumen and platform ecosystem capabilities.
The alliance will reduce implementation costs and integration times for joint customers, while giving them complete control over document creation across the policy lifecycle.
The insurer says the system will give it the ability to accommodate changing business models and reduce current manual process with features available from both processing and workflow perspectives.
AIC required a rapid solution deployment and expertise in Workers Compensation PEO multi-state processing to support its growth strategy and increase operating efficiency.
OneShield Enterprise gives Hiscox USA the ability to communicate with external systems efficiently and achieve speed-to-market that matches the fast-moving segments it serves.