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by working with Advantage Insurance Holdings Ltd., the leading provider of private placement Life Insurance (PPLI), enters the technology OneShield using a transaction-oriented solution Neuland and provides an operationally efficient platform for the management of products and accounting from beginning to end -. all in a cloud-based “as-a-service” environment
Marlborough, Massachusetts (ots / PRNewswire) – OneShield software in relation to the main systems as technology platform for the worldwide markets for property and casualty insurance (Property and casualty (P & C) Insurance) already proven and is on the way, its automated and customizable by the user technology for rapid application development to a wider circle . offer of financial services
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Advantage Insurance Holdings Ltd. Grand Cayman, Cayman Islands, is a leading provider of specialty insurance and related services for business owners and high net worth individuals who are looking for tailor-made solutions for their needs in risk management and financial planning. Advantage has opted for cooperation with OneShield to automate those processes in a significant measure that were previously handled mainly manually and on paper. These include exhibition, classification and management of complex and tailored to the individual customers insurance products.
“Simply put, OneShield expands its proven platform to other areas in financial services. We have the ability, digital business solutions quickly to develop, by leveraging our standard object models, without having to program a single line. in conjunction with our ability to provide support for the application in the cloud and on one, as-a-service ‘basis, results for our customers an even greater advantage in terms of efficiency and cost savings, “says Glenn Anschutz, president and CEO of OneShield. “OneShield has shown how expanse capable is our technology platform in terms of the market for assets and accident insurance, but this project clearly underscores the ability of OneShield to offer solutions outside the traditional requirements of this market for new markets.”
Automated main systems and processes
PPLI policies represent a unique form of flexible life insurance, get a tailor-made tool for estate planning at the policyholder. Advantage could since its foundation in 1993, experienced rapid growth in PPLI market and during this time they had to rely on manual processing and maintenance of these policies work.
Advantage turned to OneShield to the proven main system OneShield Enterprise to take over for the unique requirements of their market – to provide the opportunity for the company, better efficiency in performing a task and in the processing of documents. The aim was to improve financial management and customer communication and ensure that provisions for the prevention of money laundering and identity check of new customers (KYC, Know Your Customer) are complied with.
“The technology platform of OneShield provides us the flexibility and the necessary horsepower to disposal, we need to achieve the future growth and scalability our goals, “says Eric Miller, senior vice president of Advantage Life. “In effect, this means that we can be our customers with the highest efficiency and the best accessibility to services.”
Through the use of the technology platform of OneShield we expect that the operating efficiency is at Advantage enable nearly 100 percent of its paper-based processes to automate, and it will lead to a modernization in the control and the management of its insurance documents. Another important improvement will be in the preparation of analytical reports and reports for business intelligence. Internal stakeholders will receive automated and customized reports for each rapid exchange of information and monitoring purposes. It is expected that as a result, the overhead costs are dramatically reduced, the system developed ever further.
requires compliance management and business development
As in other areas of insurance and financial services business Advantage a main system that the requirements to fulfill in terms of compliance and “know Your Customer”. An important part of OneShield platform is the module Entity Relationship Management (ERM) to pursue with its unique capabilities, all interaction with existing and future customers -. With proactive notification of certain users of upcoming events and actions
” we knew that there is no software was on the market, which is tailored to our needs, it was critical to Advantage that our partner of choice has a centralized data model schema in tenders generating program, objects’ that our ideas about life, the annual income and reflect the assets, “Miller continued. “The icing, to say so to speak, was the possibility of using the existing frame structure of OneShield, which allows us to quickly create workflows and these tailor our business.”
Within the frame structure the OneShield enterprise application is carried out using a role-based model for the user access policy administration. This allows the Advantage Personnel, their operational processes to manage and set up independently – from prospecting to runoff of policies. The user interface can be automatically set up to monitor the specific requirements of Advantage in terms of clarity, administration and analysis of business projects new business opportunities and develop.
About OneShield software.
OneShield software provides software solutions ready for the core business of the global insurance and financial services industry in the broadest sense. Our range of standalone, subscription and cloud-based software products includes solutions for companies in the areas of policy management, billing, claims, damage assessment, product design, business intelligence and analysis. These can be used in platforms with open architecture and single data model to streamline your business. OneShield software automates and simplifies the complexity of the main systems using targeted solutions, seamless upgrades, collaborative implementations and lower total cost with respect to the acquisition of property rights.
OneShield, Inc., has its corporate headquarters Marlborough, Massachusetts, and has offices in Australia, Canada and India. The company can look back on a total of 46 products, which are used in production of all markets for property and casualty insurance and life insurance of time used. For more information, see OneShieldLife.com.
Advantage
Advantage Insurance Holdings Ltd., through its subsidiaries tailor-made insurance products and services to businesses and individuals around the world. Advantage was founded in 1993 and today serves more than 200 customers and managed from its headquarters in Grand Cayman and business offices in Charleston, South Carolina, San Juan, Puerto Rico, and Scottsdale, Arizona, from more than a billion dollars in insurance assets. The main business model Advantage includes private placement life insurance, self insurance management and alternative services for risk transfer. Additional information is available on the website of Advantage: www.aih.com.ky
OneShield is a trademark of OneShield, Inc. More here used actionable expressions are also protected mark of OneShield, Inc. Copyright 2013 – . 2016 by OneShield, Inc. All rights reserved
Contact: Janice
Merkley-Burt
Senior Director Global Corporate Communications
OneShield software – OneShield. com
mobile: + 1-416-399-2725 | Email: jmburt@oneshield.com
Mary Galloway Herms Director of Investor Relations Advantage Insurance Holdings Ltd. +1 (345) 949-1599 or +44 75 0066 5753 m.herms@aih.com.ky
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