July 17, 2012
Boulder, CO and Marlborough, MA — July 17, 2012 — ICAT, a leading provider of property insurance to businesses and residences in hurricane and earthquake exposed regions of the United States, and OneShield, Inc., a provider of flexible, enterprise-class and content-rich policy and billing core systems for property/casualty insurers, are pleased to announce that ICAT has chosen OneShield Dragon® as its policy management solution.
Achieving process efficiencies, increasing productivity and providing superior service to producers are critical objectives for ICAT’s policy management replacement project. Enabled by Dragon’s robust workflow engine, ICAT underwriters will have the ability to access an online, integrated underwriter workbench which will streamline and automate workflow to reduce processing costs and allow ICAT to deliver faster turn-around time to producers.
“We looked for a technology partner with extensive insurance expertise. OneShield truly understands our unique business needs,” said Mike Ferber, CIO, ICAT. “With the flexibility that Dragon provides, we have the capability to migrate our products to a single platform which will simplify our technology landscape, improve our operating efficiency and allow us to focus on better service to our producers and clients.”
With OneShield Dragon, ICAT will:
“We are committed to collaborating with ICAT to support their ongoing business needs,” said Tim Steele, senior vice president of U.S. client services and sales, OneShield. “Since ICAT is a very diligent underwriting organization, the implementation of Dragon will help them to automate manual processes and integrate relevant data from disparate systems into their underwriting workflow, leading to more effective evaluation, pricing and servicing of desirable risks.”
Visit oneshield.com to learn more about OneShield Dragon®.
ICAT Managers, LLC., the principal underwriting subsidiary of Paraline Holdings, is an insurance underwriter which specialises in underwriting small and middle market commercial properties located in catastrophe-exposed regions of the United States. ICAT Managers is an underwriter at Lloyd’s of London through ICAT Syndicate 4242, (rated “A” [Excellent] by A.M. Best Company and “A+” (Strong) by Standard & Poor’s). ICAT Managers also underwrites on behalf of other insurance companies and other Syndicates at Lloyd’s of London.
OneShield has successfully delivered flexible, enterprise-class policy management, billing, rating, product configuration and business intelligence/analytic solutions to the global P&C/General Insurance industry since our inception in 1999. Based on an open, tool-based architecture, OneShield Dragon® provides companies with the ability to streamline product creation, management, underwriting and distribution. With Dragon, P&C insurers gain a competitive advantage that helps them improve operations and profitability while meeting increasing customer and market demands. OneShield develops innovative technology to better serve the needs of the industry and more importantly, their customers. OneShield is headquartered in Marlborough, MA and has an office in Gurgaon, India. Visit oneshield.com to learn more.