As part of a core systems transformation initiative, MMIC, Insurance Inc. has partnered with OneShield Insurance Software to develop a new claims component to complement the vendor’s enterprise insurance core system suite. The new component will allow clients to automate and self-configure many aspects of the software, including workflows, processes, user interface and rules. “This is a unique opportunity for us to help build a claims component that meets all of our requirements and sets a standard for the industry,” comments Deb Penrod, MMIC’s VP, IT, and CIO.
The policyholder-owned medical liability insurer, based in Minneapolis, Minn., has also chosen OneShield to facilitate the updating of its core systems technology in preparation for future growth. The insurer cited configurability, ease of integration with other affiliates, and reliability out of the box – with no requirement for custom programming – as important factors in its decision-making process. “This core policy management implementation offers us the opportunity to change many things in our legacy software system that have been pain points,” said Penrod.
The insurer also cited multi-channel distribution models, such as email and web portals, as well as the ability to quickly make product changes among its key criteria in selecting OneShield. “Right now, it can take months with our legacy software to get system changes done,” Penrod said. “With OneShield’s platform, renewals or changes to our large books of business will be handled in a fraction of that time.”
MMIC was founded in 1980 and conducts business in 16 states. The insurer covers 17,000 health professionals as well as around 500 medical facilities. OneShield, Inc. is based in Marlborough, MA. It provides core business software solutions to the global P&C and General Insurance markets.