MARLBOROUGH, Mass., March 23, 2016 /PRNewswire/ -- 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.
"We are very pleased to welcome Public Risk Underwriters, to the growing list of OneShield clients embracing our 'As-a-Service' offerings," says Liza Smith, OneShield's Senior Vice President Global Sales. "Our cloud-based platform allows Risk Pool Organizations to leverage the core system platform designed specifically for their unique business needs, without incurring large up front license fees or hardware costs."
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.
"Our executive team was concerned for some time that legacy offerings in the marketplace designed for risk pools lacked important features, ease of configurability and upgradeability," says Ann Hansen, Public Risk Underwriters' Director of Operations. "We were very pleased to learn that OneShield offered a solution specifically for Risk Pool Organizations that will allow us to meet our business and technology needs."
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.
About OneShield Software
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.
Leveraging cutting-edge technologies and a cloud-based "As-A-Service" delivery model, OneShield solutions can be used out-of-the-box with pre-built content, or easily reconfigured to suit specific business processes or complete product lifecycles. A robust and user-friendly design tool allows you to quickly design, configure and manage many aspects of your solution.
Our portfolio of standalone, subscription-based and cloud-based products include enterprise-class policy management, billing, rating, claims administration, product configuration, and business intelligence and analytic solutions leveraging an open architecture and single data model.
Since 1999, OneShield has been privileged to provide solutions to many of the strongest and fast-rising names in the financial services industry, ranging from those with single lines of business to others with multiple products in personal, commercial, life and specialty markets - a combined 46 lines of business in production among clients based around the world.
Through OneShield Market Solutions, we provide 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.
With our corporate headquarters in Marlborough, MA, and global offices in Australia, Canada, India and the United Kingdom, OneShield is committed to supporting clients' growth, increasing their speed-to-market, enhancing internal and external efficiencies, and enabling client self-sufficiency at the lowest total cost of ownership. To learn more, visit oneshield.com.
About Public Risk Underwriters of Florida Inc.
Public Risk Underwriters®, based in Lake Mary, FL, partners with public entities to provide cost-effective solutions to meet their diverse insurance needs. PRU offers over 20 years' of experience in the design, implementation, and administration of innovative property, casualty, workers' compensation insurance, and risk management programs.
PRU carries out the day-to-day administrative, underwriting, marketing and risk management services for the Preferred Governmental Insurance Trust®. Formed in 1999, Preferred offers Workers' Compensation, Property, and Casualty coverages to all segments of the Florida public entity insurance marketplace.
PRU, the Florida public entity specialists for Brown & Brown Inc, has a proven track record in the design of customized programs for the public sector. We believe in helping public entities fulfill their responsibilities and commitments to the public for a safe environment-today and in the future.
OneShield and OneShield Insurance Software are registered trademarks of OneShield, Inc. Other capitalized terms used herein are also protected marks of OneShield, Inc. Copyright 2013 - 2016 by OneShield, Inc. All rights reserved.
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SOURCE OneShield Software