Capitol Insurance Selects OneShield as Policy Management Solution
Staff Writer | March 11, 2014
Capitol Insurance Companies selected OneShield, Inc., as their enterprise core system technology provider. Capitol will launch a new professional liability division implementing OneShield Policy, followed by plans to expand the software across their enterprise.
OneShield Policy is a configurable end-to-end policy management solution that automates and simplifies the complexities of every stage of the policy lifecycle. Additionally, Capitol has licensed an enterprise version of OneShield Billing for future deployment options.
“Ease of doing business is a competitive advantage in today’s world,” says Stephen Sills, Capitol’s chairman and CEO. “Anything we can do to give better tools to our agents helps us gain a lead in this marketplace, and OneShield’s platform fits within the three pillars upon which we are building new growth for this business—product, distribution, and best-of-breed technology.”
Capitol's business model will provide their underwriting team with the ability to write policies across multiple lines of business for their agents—enabling better customer service and cross-selling opportunities.
“OneShield is excited to work with Capitol to change the way the industry does business”, says Glenn Anschutz, OneShield’s CEO. “We value the long-standing, successful relationships we have with both Capitol and Stephen Sills. Together, we have delivered quality solutions to drive business growth. We believe Capitol will rapidly launch new lines of business and expand their products to a much broader customer base with ease.”
Among the increased efficiencies Capitol and its agents and customers will enjoy is the ability to access complete file information digitally rather than through manual paper-based searches, and a new capability to create customized “bundles” of different insurance products for individual customers, according to Todd Burrick, Capitol’s chief actuary, professional liability.
“We also expect to dramatically decrease the lead time needed to get new products to market,” says Burrick. “With OneShield, we should be able to deliver new insurance products within six weeks from the time we receive the green light, which is a remarkably fast time in our industry.”
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