SOURCE: OneShield, Inc.

OneShield, Inc.

February 29, 2012 11:11 ET

OneShield Introduces Dragon® Billing

Designed With Insurer Input to Meet Specific Industry Needs

WESTBOROUGH, MA--(Marketwire - Feb 29, 2012) - OneShield,Inc., a provider of flexible, enterprise-class and content-rich policy and billing core systems for property/casualty insurers, is pleased to announce the availability of Dragon Billing, a comprehensive billing, payables and receivables management solution for both direct and agency bill. Developed with client and insurer feedback, it enables insurers to deliver process efficiencies, speed to value and superior customer service with the extensible toolset of OneShield Dragon.

Dragon Billing handles the full billing lifecycle from billing instruction to close, and manages direct and agency billing across all lines of business. Automation of commissions, exception handling, promise and delinquency processing, carry forwards, write-offs and refunds are just a sample of Dragon Billing's robust functionality. With Dragon Billing, insurers can put customers first by providing flexible billing options, payment plans and features like tasks to help resolve customer issues quickly and easily.

"By offering Dragon Billing, OneShield expands its product offering to better meet the growing needs of the insurance industry," said Karen Furtado, partner at Strategy Meets Action. "This continuation of commitment to product investment and expansion demonstrates OneShield's commitment to deliver high-value solutions to the insurance industry. Dragon Billing provides exceptional billing customer service capabilities that will allow insurers to have a distinct competitive advantage in the marketplace."

Dragon Billing delivers:

Process efficiencies -- Dragon Billing automates multiple processes, such as the delinquency process and exception handling, and additional process improvements can be easily made with Dragon Billing's workflow and business rules capabilities. Dragon Billing's adaptable user interface allows for making changes any time to improve payment processing, disbursements, shortfall management and commissions. With Dragon Billing, insurers are able to leverage equity-based dating to reduce uncollected earned premium.

Speed to value -- The open architecture of the Dragon toolset gives insurers control over the system, thereby enabling them to quickly respond to the changing needs of the market and the growing demands of their customers to help them win in the markets they want to serve. Dragon Billing's powerful configuration tools reduce the need for an insurers' IT staff to make changes, such as adding new billing or payment plans, these modifications can now be made by a business analyst.

Enhanced customer and agent services -- With Dragon Billing's versatility, insurers can invoice customers the way they want to be billed and make changes to payment plans and methods in real-time at any point in the billing cycle. Several payment plan options can now be supported, which boosts customer retention efforts. Additionally, agents gain access to real-time information all in one place. Dragon Billing's built-in portals for customers, agencies, brokers and reinsurance companies reduce friction between all participants in the billing and collections processes.

"We made it our goal to build Dragon Billing to be a system that would help insurers put the customer first," said Steve Forte, director of product management and alliances for OneShield. "To do that effectively, we worked closely with a network of insurers to gain insight and valuable input that helped us design Dragon Billing to meet their needs today and in the future. By giving them the flexibility to allow their customers to choose their billing and payment plan options, they can provide better support, gain operational efficiencies and decrease processing costs related to invoicing, payments and receivables management."

Dragon Billing is built on OneShield's renowned Dragon platform and is designed to be implemented as a standalone solution or with Dragon Policy. With Dragon's "Power of One," billing and policy share a common data model, database, architecture and toolset along with partner management. There is absolutely no integration required between the two solutions, reducing implementation costs, risks and time to production.

"We are proud to deliver a fully-integrated policy and billing solution that works together seamlessly to better service the needs of the market," said Glenn Anschutz, chief executive officer and president for OneShield. "By adding a comprehensive billing platform as the next logical extension of our extensible Dragon Policy solution, we are allowing our customers to lower their cost of ownership by leveraging one tool to configure both applications."

About OneShield
OneShield delivers flexible, enterprise class and content-rich core systems for billing, policy, product configuration and rating. 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 is headquartered in Westborough, MA and has offices in Glastonbury, CT and Gurgaon, India. Visit oneshield.com to learn more.

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