Accident Insurance Company Selects OneShield’s Cloud-Based As-A-Service Policy Administration Solution
Accident Insurance Company (AIC) and OneShield Software today announced the selection of OneShield Market Solutions’ Policy Administration products designed for small commercial insurers.
Marlborough, MA — July 25th, 2018; With a need for rapid solution deployment and expertise in Workers Compensation PEO multi-state processing, Accident Insurance Company of New Mexico (www.accinsco.com), has selected OneShield’s (www.OneShield.com) As-A-Service Policy Administration Solution, OneShield Market Solution (OMS). AIC is looking to increase market share and client servicing strategies which requires modernizing their technology capabilities so they can reduce costs and increase efficiencies. OMS will provide a fully integrated solution including an Agent and Insured Portal, Policy, and Billing Administration for Workers’ Compensation, and several specialty commercial lines of business.
AIC will be implementing a new OMS feature that provides dynamic and streamlined workflows for standard or custom functions utilizing the integrated Rules Engine. This enhancement addresses and automates multi-step low-level tasks typically handled by manual input. This allows employees to focus on higher-value administration activities that will help to improve operational efficiencies.
Outside the Workers’ Compensation Administration, AIC required an agile and flexible solution for specialty rating. “We needed a solution that could deliver a new program within weeks, not months,” says Anne Heath, Chief Operating Officer of Accident Insurance Company. “OMS spreadsheet rating puts control back in the hands of underwriters,” says Heath. “The system allows spreadsheet rating for a single LOB or multiple LOBs into a package policy.”
With the OMS cloud-based application, AIC can:
- Extend a Portal to insureds and brokers for self-sufficiency.
- Unify and automate the policy and billing processes.
- Leverage software APIs and XML interfaces to third-party data providers.
- Improve efficiencies and increase customer satisfaction.
- Eliminate many routine and manual tasks with a configurable rules engine.
“We are proud to welcome Accident Insurance Company to the OneShield family and we look forward to working with their organization to quickly get them to market and eliminate their current technology challenges,” say OneShield Software’s President and CEO Glenn Anschutz.