(Image credit: Sasin Tipchai.)
MIEC, an Oakland, Calif.-based reciprocal insurance exchange for the U.S. medical profession serving health professionals in U.S. Western states, has chosen OneShield (Marlborough, Mass.) Market Solutions (OMS) as the software-as-a-service provider for its core technology platform for policy administration, billing, claims and reporting.
“We were pretty clear from the outset of our search that we needed a system that could provide us the longevity our current systems had provided us,” comments Andrew Firth, President, MIEC. “Key selection criteria for us were a fully supported SaaS solution and a partner that could address the unique needs of professional liability insurers. With OneShield, we’ll be moving rapidly through our technology transformation, to an end-to-end solution that will significantly enhance our capability to provide innovative and comprehensive policies for our members.”
Third-Party System Integration
OneShield’s next-generation solution will allow MIEC to offer separate Web portals for insureds and agents, easily integrate a variety of critical third-party systems, and improve systems for payments and distributing dividends, according to a vendor statement. OneShield’s OMS platform provides end-to-end policy management for quoting, binding and servicing, handling the billing lifecycle from invoicing through to payment, and claims administration from first notice of loss through to payment. Extended capabilities include document management, reporting, and analysis.
“We are delighted to be partnering with MIEC as they embark on their core system modernization journey to a SaaS model,” comments Liza Smith, Chief Revenue Officer, OneShield. “MIEC is a welcome addition to our growing roster of professional liability clients that have recognized the competitive advantages our SaaS platform can deliver to the success of their operations.”