February 25, 2014

Capitol Insurance Companies has announced the selection of OneShield, Inc. as its enterprise core system technology provider. Capitol chose to work with OneShield after witnessing other insurers successfully implement its technology.

After launching OneShield Policy in its newly created professional liability division, Capitol will expand use of the software throughout all of its business segments. OneShield Policy is configurable, end-to-end policy management software that simplifies the complex steps in every stage of the policy cycle. Capitol has also selected an enterprise version of OneShield Billing, which will serve as an option for future deployments.

[ Finding Harmony in Global Insurance Systems. ]

The new business model will allow Capitol’s underwriting team to write policies across multiple lines of business. This is expected to improve customer service and expand cross-selling opportunities. Capitol also anticipates that its new system will decrease the lead time needed to get new products to market down to about six weeks.

“Ease of doing business is a competitive advantage in today’s world,” says Stephen Sills, chairman and CEO at Capitol. “Anything we can do to give better tools to our agents helps us gain a lead in this marketplace, and OneShield’s platform fits within the three pillars upon which we are building new growth for this business – product, distribution, and best-of-breed technology.”

ABOUT THE AUTHOR
Kelly is an associate editor for Insurance & Technology. Prior to joining InformationWeek Financial Services, she was a staff writer for InformationWeek and InformationWeek Education. Kelly has also written for trade ...