OneShield Completes Suite with New Claims Component
Staff Writer | December 03, 2015
OneShield Claims is a new user-configurable claims administration system that completes the 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, and customer and partner management for the global P&C market. It focuses on helping carriers to:
"OneShield Claims is an important addition to our enterprise offering that ensures complete end-to-end integration of data, workflows, processes, and rules at every stage of the insurance policy lifecycle," says OneShield president and CEO Glenn Anschutz. "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 loud, OneShield Claims offers:
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
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:
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