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Transformative solutions reshaping the professional liability insurance landscape
OneShield’s comprehensive Policy, Billing, and Claims Administration Solutions are meticulously designed to provide the essential tools and capabilities, optimizing and streamlining processes in the vast landscape of professional liability insurance.
Functionality Highlights
OneShield’s Policy, Billing, and Claims Administration Solutions offer the following key features tailored to professional liability insurers:
Policy
Policy Management
Key functionality:
Manage customer/entity data at an account and policy level, including relationships of customers across accounts, through the full policy lifecycle
Support for admitted and non-admitted products, including primary and excess coverage
Reinsurance tracking capabilities
Large schedule management to import facility and professional risk information
Configurable policy options and coverages, including ERP
Support for master policies
Specialized underwriting and policy issuance for professional service-related risks, including professionals and organizations
Ability to override premiums at the policy, coverage, and rating factor level
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Billing
Billing and Accounting
Key functionality:
Flexible billing options for premium collection
Split bill and multi-payor functionality
Automated invoicing and premium calculations, both professional and organization bill
Integration with General Ledger financial systems and payment processors
Account bill administration and reconciliation
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Claims
Claims Management
Key functionality:
Incident tracking is independent of claim creation
Integration with third-party claims adjusters and experts
Comprehensive litigation tracking and management, including budgets
Comprehensive claims handling for specialty risks
Assignment administration to internal and/or external parties through tasks, diaries, and notes
Streamlined claims processing for efficient resolution
Management of multiple coverages, including ERP
Reserve and payment administration
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Analytics
Analytics & Reporting
Key functionality:
Real-time analytics for risk assessment and pricing
Comprehensive reporting for regulatory compliance
Robust business intelligence capabilities
Data-driven insights for strategic decision-making
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Customer Engagement
Customer Engagement
Key functionality:
Self-service portals for policyholders and partners
Enhanced customer satisfaction and loyalty
Personalized communication to build strong relationships
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Client Success
Full Entity Management for Professional Liability: A game changer for clients, employees & insurers
Related resources
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