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Adapt to the evolving commercial insurance landscape
Commercial insurers navigate growth opportunities amid market expansion but grapple with challenges like heightened competition, regulatory requirements, and a talent shortage. A proven core insurance platform facilitates data-driven decisions, automates tasks, and enhances digital interactions, bolstering cybersecurity to empower insurers in staying competitive, delivering superior customer experiences, and navigating the dynamic insurance landscape.
That’s where OneShield comes in.
That’s where OneShield comes in.
Functionality Highlights
OneShield's Policy, Billing, and Claims Administration Solutions provide some unique functionality tailored to the needs of commercial lines insurers. Beyond the core features, here are some key highlights:
Policy
Policy Management
Key functionality:
Support for admitted and non-admitted products
Manage customer data at an account and policy level
Ability to override premiums at the policy, coverage, and rate factor level
Primary and excess coverage and registration for subscriptions and towers
Support full entity management across the policy lifecycle
Endorsement management for policy changes
Country-wide model for product definition and maintenance
Streamlined underwriting and policy issuance
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Billing
Billing and Accounting
Key functionality:
Flexible billing options for different lines of business
Integration with accounting systems for accurate financial reporting
Automated invoice generation and premium calculations
Support for taxes, fees, and surcharges including flexible earning methods
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Claims
Claims Management
Key functionality:
Robust claims handling and tracking
Automated coverage identification based on loss information
360-degree claim summary view
Integration with claims adjusters and medical providers
Assignment administration to internal and/or external parties through tasks, diaries, notes, etc
Robust business intelligence capabilities
Fraud detection
Rules-based recovery identification across different types such as salvage, subrogation, reinsurance, and deductibles
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Analytics
Analytics & Reporting
Key functionality:
Real-time data analytics for risk assessment
Support for informed decision-making and strategy development
Comprehensive reporting for performance analysis
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Customer Engagement
Customer Engagement
Key functionality:
Enhance customer relationships with self-service portals
Improve client retention and satisfaction
Personalize communication to policyholders
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Client Success
Fireside Chat: Erie Insurance & OneShield discuss digital distribution enablement.
Timothy Shine, Vice President, Commercial Lines Technology Erie Insurance
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