CDS offers subscription cloud-based and site-installed software solutions focused on policy admin and claims processing to the P&C insurance market. Its customers include niche and mid-sized carriers, self-insured businesses, specialty workers’ comp providers that require full NCCI compliance, MGAs and TPAs.
“This acquisition will expand our opportunities into lower-tier carriers, as well as specialty niche markets, where hosted and cloud-based solutions are increasingly popular,” says Glenn Anschutz, president and CEO at OneShield, in a statement.
OneShield will acquire the full CDS product line while supporting its niche customer base. It will also use CDS’ extensive expertise in claims processing to improve the functionality of the claims administration product it currently has in development.
“From an intellectual property standpoint, this also significantly augments our existing expertise in the area of claims processing,” Anschutz adds. “The CDS team brings an aggregate of 60-plus years of experience in building rich and robust functionality into claims administration solutions.”
Kelly is an associate editor for InformationWeek. She most recently reported on financial tech for Insurance & Technology, before which she was a staff writer for InformationWeek and InformationWeek Education. When she's not catching up on the latest in tech, Kelly enjoys ... View Full Bio