OneShield, Inc., a provider of innovative technology driven policy administration and automated workflow solutions to the property and casualty insurance industry, today announced they have opened up their powerful insurance processing components to a variety of web services. This new service oriented architecture enables the packaging of data aggregation services, rating and underwriting scoring via ACORD XML. This provides an industry standard integration mechanism for carriers to utilize some or all of OneShield's powerful workflow, rules, rating, issuance and policy processing functions.
With this new capability, OneShield is offering a subscription based data aggregation service that can include collection, analysis, aggregation, formatting, and secure delivery of the data from third party data providers to reduce insurance carrier integration costs.
OneShield's new services support ACORD XML based requests for accessing multiple data services. OneShield transforms the ACORD XML request into vendor-specific formats and returns the data to the client in the standardized delivery format or HTML. In addition, data about the insured can be analyzed for a particular transaction to determine which third-party data should be collected, once the data is returned it can in turn be analyzed and scored. The OneShield rules engine can evaluate the data, "score" the risk per the carrier's rules and pass the parsed 3rd party data back to the carrier's system.
As an example, OneShield's services could be used in concert with an agent or carrier's website to get credit scores, real-time accident and violation details, determine eligibility or provide a rate. All of these requests, at the carrier's choice, could be fulfilled via a single web-service request or multiple requests.
"We firmly believe that providing web services based a la carte solutions, using industry standards such as ACORD XML, provides substantial automated underwriting benefits for carriers or MGA operations." comments CEO, Glenn Anschutz. "The industry is moving towards web services connecting the best of breed components. This service enables precisely that, with the flexibility of being able to configure the service to individual carrier needs," added Anschutz.
About OneShield, Inc.
OneShield is a leading provider of browser-based solutions to automate the sales and service of insurance and bond products for insurance carriers, major brokers, and MGAs. Our flagship product, OneShield Dragon(R), is a tools- based, data-driven insurance underwriting, policy administration, rating and workflow engine. Dragon provides the configurability to meet today's goals and the modifiability to adapt to future demands. For additional information, visit http://www.oneshield.com.
Heather Peacock at hpeacock@oneshield.com or 508-475-0345