Companies also working together to develop new fully-integrated OneShield claims component to further enhance full enterprise suite.
MARLBOROUGH, MA, and MINNEAPOLIS, MN, May 13, 2014 /CNW/ - MMIC, Insurance Inc. (MMIC), the largest policyholder-owned professional medical liability insurance company in the U.S. Midwest, is partnering with OneShield, Inc. to transform its core systems technology for future growth.
"This core policy management implementation offers us the opportunity to change many things in our legacy software system that have been pain points," said Deb Penrod, MMIC's Vice President, Information Technology, and Chief Information Officer.
"What stood out for us in OneShield's solution is how much of the system is configurable and doesn't require custom programming. Also, giving our agents the ability to access our system via a secure web portal is key from a sales and marketing perspective. Finally, and perhaps most importantly, with this robust solution, MMIC will be able to seamlessly integrate its insurance affiliates onto one platform, furthering of the major benefits of Constellation, MMIC's parent organization."
OneShield Insurance Software is a configurable end-to-end software platform that automates and simplifies the complexities of every stage of the insurance policy lifecycle. With client self-sufficiency and lower total cost of ownership among its chief goals, OneShield's built-in tools allow business and technical team members to work together, while empowering them to easily reconfigure product offerings, the user interface, workflows, rates, rules, forms, and transaction processing methods as needed — all without writing a line of code or hiring outside help.
Currently doing business across 16 states, MMIC provides coverage to more than 17,000 health professionals and approximately 500 hospitals, long-term care and outpatient facilities. To serve the rapidly-evolving and customized needs of its clients, MMIC is implementing OneShield's full suite of solutions, including components for policy management, billing, rating, claims, third-party partner management, reinsurance cession, reporting and analysis, and other core systems tools.
MMIC will also collaborate with OneShield to develop a new claims processing component that will round out the OneShield enterprise suite. Similar to other OneShield products, the claims component will allow clients to automate and self-configure many aspects of the software, including workflows, processes, user interface and rules. "This is a unique opportunity for us to help build a claims component that meets all of our requirements and sets a standard for the industry," said Penrod.
"Overall, this implementation of OneShield's full suite of products will have a significant and positive impact on customer service, speeding the processing of existing business and giving our people greater access to client information," said Penrod. In addition to supporting multi-channel distribution models, such as email and web portals, the OneShield platform will also give MMIC the ability to make product changes swiftly.
"Right now, it can take months with our legacy software to get system changes done," she said. "With OneShield's platform, renewals or changes to our large books of business will be handled in a fraction of that time."
"OneShield is proud to add MMIC to our growing number of medical malpractice liability insurance clients," said Liza Smith, Senior Vice President, Sales and Marketing. "MMIC's leadership team has taken a proactive approach to meeting the changing needs of its policyholders, and our objective will be to give MMIC all the tools and support it requires to transform its market agility and client service."
About OneShield Inc.
OneShield, Inc. delivers core business software solutions to the global P&C and General Insurance industry. Our portfolio of products includes enterprise-class policy management, billing, rating, product configuration, and reporting and analytic solutions that leverage a tool-based open architecture and single data model platform to streamline your business. OneShield Insurance Software automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades and collaborative implementations.
With its corporate headquarters in Marlborough, MA and offices in Australia, Canada and India, OneShield, Inc. has a combined 44 products in production across all commercial, personal and specialty lines of business. To learn more, visit oneshield.com.
MMIC is the largest policyholder-owned medical liability insurer in the Midwest. It serves large hospitals and health care systems, physician practices, and outpatient and long-term care facilities. MMIC is finding new and better ways to protect clients through risk financing, improving patient safety and physician well-being, and reducing risks associated with information technology. Its goal is to provide peace of mind so clients can focus on delivering the best health care possible. MMIC's headquarters are in Minneapolis. Founded in 1980, it has more than 150 employees throughout the U.S. Midwest. To learn more, visit MMICgroup.com or our holding company at ConstellationMutual.com.
SOURCE: OneShield, Inc.
For further information: INTERESTED IN AN INTERVIEW? CONTACT: Nancy Hines, OneShield Inc., T: 774.348.1000, M: 803.309.9459, E: [email protected]