An automated, pre-built, scalable, and configurable cloud-based policy lifecycle management and business development solution. Designed specifically for the nuances of the life markets, this end-to-end policy management solution automates and simplifies workflows, business rules, customizable processes, document management, and transaction processing.
- OneShield Life is comprised of policy, billing, claims and reporting offered on the same platform utilizing a shared database for efficiency and reusability. Being highly configurable (over 96% is configurable) leveraging a single design tool across the entire application and because the application is metadata-driven, it is highly extensible. OneShield Enterprise configurability extends to all aspects of the application, including products, processes, organizational structure, products, rules, rating, workflows, field additions, tasks, portals, data model, UIs, and forms Built-in KYC functionality. The platform contains content and workflows that facilitate adherence to financial reporting, anti-money laundering, and Know Your Customer (KYC) regulations. This module serves as an enhanced repository, containing additional Know Your Customer (KYC) details such as personal, tax, beneficial owner information and certifications, and documentation for all stakeholders. On the KYC front, the system provides checklists to ensure background and security quality checks are signed-off as complete.OneShield Relationship Management is an all-encompassing relationship management module for clients, partners, entities, and other third-party relationships, providing insight and read, read/write, and task management capabilities, all in addition to a 360-degree view of all things policyholder.
OneShield Life offers a lower Total Cost of Ownership of a core insurance solution. Key benefits include:
•Pre-built API's and a tool to manage microservices via configuration. Our Services Designer is a collection of vendor and product-independent Service-Oriented Architecture (SOA) web services with the ability to configure new API's to allow external applications to remotely execute business transactions on the platform. Independent of a UI, external applications use this service layer as a transaction engine and data store.
• Complete AP/AR handling with OneShield Billing.
• The benefit of machine learning to streamline redundant processing and tasks in areas such as claims.
• Upgradability of our application is well documented and more streamlined than that of our competition. This is evident in the high adoption rate of our existing clients.
• The self-sufficiency around product maintenance and management is extremely high with our clientele. This is part of our project objective, to make our client as self-sufficient on the application as they desire to be. Whether it is internal resources or a strategic partner of the client, we make knowledge transfer part of our goals to help with long-term product total cost of ownership.
Please refer to the attached 'OneShield Software - Life PPLI Brochure' for more details.