Marlborough, Mass. (Dec. 3, 2015) – OneShield Claims is a powerful and user-configurable claims administration system that completes the acclaimed OneShield Enterprise core system platform. It has been developed with an eye to enhancing customer service expectations, address the increasing competition in the global insurance industry and the challenges of the regulated claims environment.
OneShield Enterprise offers end-to-end core management capabilities of Policy, Billing, Rating, Claims, Customer and Partner management for the global P&C market. It focuses on helping carriers to:
- Reduce total cost of ownership;
- Increase speed-to-market;
- Enrich business intelligence;
- Strengthen compliance;
- Enhance customer, partner and user experiences.
“OneShield Claims is an important addition to our enterprise offering that ensures complete end-to-end integration of a business’ data, workflows, processes and rules at every stage of the insurance policy lifecycle,” says OneShield President and CEO Glenn Anschutz. “Already a market leader with our policy, rating, billing, and partnership management enterprise platform components, OneShield Claims signals our continued commitment to ongoing product investment, and our continuous aim to deliver high-value solutions for the global insurance industry.”
Feature-Rich and User-Configurable
OneShield Claims automates and streamlines the largest variable expense for most organizations – the claims administration process which traditionally requires a high volume of manual interactions, therefore driving up the costs of administering a claim.
With its intelligent, self-learning and highly customizable design, OneShield Claims is easy to configure and automate. It can automate complexities from the First Notice of Loss (FNOL) through to file closure across all lines of commercial, personal and specialty insurance.
Deployed on premise or in-the-cloud, OneShield Claims offers:
- Financial transaction management for reserves, payments and recoveries;
- Ancillary functionality for Special Investigative Units (SIU), litigation and subrogation;
- Automated low-touch processing through configurable business rules;
- Journal management, including one-time and recurring diary entries with automated escalation, system and user-created notes, correspondence and regulatory document generation from templates, and embedded email integration;
- Business Intelligence reporting and analytics, and scoring capabilities.
As a fully-integrated component within the OneShield Enterprise platform, at every stage of filing a claim, carriers can work from a single and shared comprehensive data model using common toolsets. This eliminates costly, time-consuming and error-prone duplication of records and effort.
In addition to its ease of configurability, integration is an important element to many insurance service providers. OneShield Enterprise not only allows claims handlers to verify coverage limits, deductibles, schedules and exclusions to an insurance contract. It can also be integrated easily with best-of-breed or sector-specific third-party software applications, such as financial, regulatory and general ledger systems.
Lowering Total Cost of Ownership through Automation
OneShield Claims, together with the OneShield Enterprise core system platform, can have a significant impact in reducing expenses.
For example, automated workflows can be established to request police reports of accidents, notify insureds via email of important information, alert third-party suppliers to deadlines, or even identify potential fraud in a claim.
OneShield Claims offers pre-built insurance-specific defined workflows as well as customizable workflows, process and business rules to help carriers accelerate processing times to help reduce costs in areas such as:
- Electronic Data Interchange (EDI);
- Government Medicare program reporting;
- Return-to-work tracking;
- Special investigations;
- Litigation and medical case management;
- Pre- and post-claim loss prevention programs.
About OneShield Software/p>
OneShield Software delivers core business software solutions to the global P&C and General Insurance industry. Our portfolio of standalone, subscription and cloud-based software products includes enterprise class policy management, billing, claims, rating, product configuration, business intelligence and analytics solutions that leverage a tool based open architecture and single data model platform to streamline your business. OneShield Software automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades, collaborative implementations, and lower total cost of ownership.
With its corporate headquarters in Marlborough, MA and offices in Australia, Canada and India, OneShield, Inc. has a combined 44 products in production across all commercial, personal and specialty lines of business. To learn more, visit oneshield.com.
OneShield and OneShield Insurance Software are registered trademarks of OneShield, Inc. Other capitalized terms used herein are also protected marks of OneShield, Inc. Copyright 2013 – 2015 by OneShield, Inc. All rights reserved.
Source: OneShield Software