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OneShield Announces New Product Development and Major Acquisition

Staff Writer | June 04, 2014

OneShield revealed it will be releasing an enterprise-level software solution for the lifecycle management of insurance claims in the first quarter of 2015. The announcement of OneShield Claims was made at the software solution provider’s annual client conference in May.

This new product completes the enterprise suite of OneShield Insurance software products, and will leverage OneShield's open architecture and "Power of One" philosophy—using the same data model, architecture, partner management and master database—as other products, such as OneShield Policy and OneShield Billing.

Minneapolis-based MMIC Group (MMIC), a policyholder-owned professional medical liability insurance company in the Midwest, has already signed on with OneShield as an early adopter of OneShield Claims. MMIC will be collaborating with OneShield's software development team to identify features and enhancements.

In addition, Glenn Anschutz, OneShield's president and CEO, announced an agreement to acquire key strategic and intellectual property assets of Clear Data Strategies, a subscription cloud-based and site-installed software solution provider for claims processing and policy administration for the P&C insurance market. Customers include mid-sized and niche P&C carriers, self-insured organizations, specialty workers compensation insurance providers requiring full NCCI compliance, and TPAs and MGAs.

 OneShield is absorbing the Clear Data product line, and will also leverage its 25 years of expertise in claims processing, and use it to further enhance the capabilities and functionality of its own claims administration product offering currently in development.

"This acquisition will expand our opportunities into lower-tier carriers, as well as specialty niche markets, where hosted and cloud-based solutions are increasingly popular," says Anschutz.

 

 

 


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