OneShield Software and Public Risk Underwriters of Florida Inc. will be working collaboratively over the coming months to implement OneShield Market Solution´s cloud-based policy, loss prevention and business intelligence modules to manage Public Risk Underwriters´ public entity Workers´ Compensation and Commercial package products, the company said.
Key to Public Risk Underwriters decision was that OneShield´s cloud-based software gave the organization significant functionality out-of-the-box alongside the freedom to configure the solution to meet its own unique workflows and processes.
Additionally, they sought a solution that would produce detailed business analytics and intelligence, and the ability to enhance its Risk Management capabilities. Meeting their selection criteria, OneShield´s solution will also allow Public Risk Underwriters to work more closely with agents through a highly-secure web portal enhancing their policy management processes.
OneShield Market Solutions for Risk Pool Organizations is a cost-effective, secure and configurable policy administration solution supporting multiple insurers, vendors, insureds, captives and other stakeholders. The technology empowers Risk Pool Organizations by enabling them to automate the handling and auditing of many stages of the policy lifecycle with custom algorithms, specialty rate handling, unlimited billing and payment plans, and account-specific procedures.
The flexible and scalable nature of the cloud solution will free Public Risk Underwriters from many of the time-consuming and costly software maintenance and configuration issues that arose with its legacy platform.
OneShield Software solutions are powered by a market-tested rapid application development environment and comprehensive end-to-end transaction engine designed to meet the business, compliance and customer service needs of high-demand financial service businesses.
OneShield Market Solutions provides software solutions that meet the unique needs of financial services niche sectors, including Managing General Agencies, Risk Pool Organizations, Workers´ Compensation Administrators, Risk Pools, and small to mid-sized market insurers.