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OneShield Rating

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Overview

OneShield Rating

Real-time calculations of insurance premiums are the expectation to remain competitive. OneShield Software’s end-toend rating solution eliminates risk and creates efficiency by allowing insurers across all personal and commercial lines to automate underwriting, rate modeling, pricing management and comparison, and more.

OneShield Rating handles calculations ranging from simple to very complex scenarios and gives you the results for accurate underwriting in a fast-paced world. It helps you avoid risks early in the underwriting process, so you can communicate your underwriting appetite across distribution channels.

OneShield Rating can also import any content, including third-party policy systems, and is unique in its use of shared or common product definition data, promoting reuse and ease of maintenance. This allows for data integrity across all product lines, pre-quote validations based on underwriting rules, multiple calculation methods, blended rates, multiple scenario-based quotes, and full reporting on all aspects of rating data.

Deployed through our full-service SaaS delivery model, OneShield Rating can help you optimize the quoting process by improving turnaround times, and rapidly support new initiatives. Its rating made easy, with a market-tested solution and a seamlessly integrated component of OneShield Enterprise.

At OneShield Software, our strengths lie in our people, deep-rooted insurance knowledge, and our thoughtful technical architecture. Our comprehensive portfolio of business applications is tailored for insurance industry leaders looking to reduce expenses, improve efficiencies, and optimize service delivery every step of the way. OneShield Rating can help offer more competitive pricing, segment markets and test new market opportunities.

Key Features

Differentiate Your Product Offerings with OneShield Rating

OneShield Rating allows you to support multiple writing and rating companies with complete version control, regardless of the number of active rate books, or single, multi-state and national filing adoptions. OneShield Rating automates and simplifies the complexities at every stage of the rating process across all lines of personal, commercial, and specialty markets.

Key Rating Features:

  • Ability to report covered premium calculations, as well as taxes, surcharges, countersignature, and other monetary non-premium items.
  • Multi-tier rating and score-card support.
  • Rate updates performed individually or globally on filings or as a bulk load.
  • Future effective date filing definition, testing, and deployment.
  • Out-of-sequence and prior-term rating support.
  • Perform “What -if analysis” comparing various premium scenarios or separate quote proposals.
  • Import large schedules easily and quickly.

Key Benefits

Lower your Total Cost of Ownership with OneShield Rating

Automate Processes: Leverage existing workflows for all users to enhance your business processes. Run policy validation rules before rating begins to ensure validity. Fully automate rating to support straight-through processing. Multiple rate and rule combinations can be versioned and managed across distribution channels.

Leverage Extensive Pre-Built Insurance Content: OneShield Rating comes with pre-built rules that can be adapted easily to your requirements. Users can choose to modify the application using onscreen “wizards” or via a familiar spreadsheet-style interface and users can test rate and rule changes in real-time.

Realize the Advantages of Self-Sufficiency: Attain self-sufficiency in modifying products and workflows. Improve business agility enabling you to rapidly bring products to market while lowering management and maintenance costs.

Enhance Agent and Customer Service: Provide real-time quoting access to customers, agents, and partners for purposes of self-service inquiries and service, new business acquisition, commission, and sales monitoring.

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SOLUTION OR SERVICE TYPE