(Image source: The Exchange homepage.)
Southern States Insurance Exchange (Richmond, Va.), a reciprocal insurer providing property/casualty and risk management solutions to agricultural industry clients in 11 states, has selected OneShield Software’s (Marlborough, Mass.) SaaS offering, OneShield Market Solutions, to replace its legacy policy administration system.
The Exchange seeks to transform its process and delivery platform to provide superior service with greater efficiency to its members and plans to implement OneShield’s policy, billing, claims and reporting to support its commercial lines product portfolio, including general liability, commercial auto, inland marine, workers’ compensation, and the AAIS Commercial Output Program, according to a OneShield statement.
“Our members look to The Exchange for comprehensive insurance and risk transfer solutions to protect their agricultural businesses,” comments John Madden, President, The Exchange. “OneShield’s successful track record with digital transformation for regional commercial lines providers made them the clear choice in our technology vendor search.”
Technology Responsive as Needs Change
OneShield describes the OneShield Market Solutions SaaS offering as providing end-to-end policy management (quoting, binding, and servicing), billing (invoicing through to payment), and claims administration (first notice of loss through to payment), including document management, reporting, and analysis. This approach delivers rapid implementation while allowing for customization to address the unique needs of regional commercial insurers within an all-in-one pricing model, the vendor says.
“OneShield is excited to partner with The Exchange,” comments Liza Smith, Chief Revenue Officer, OneShield. “This win reflects the advantage we offer insurers—cost-effective SaaS that addresses current requirements while ensuring the technology will be responsive as their needs change.”