OneShield Software Strengths, Domain Expertise, and Key Differentiators
OneShield offers solutions tailored for P&C insurers and MGAs of various sizes. In the cloud deployment model, their diverse portfolio comprises standalone, subscription, and As-a-Service products encompassing enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and smart analytics. OneShield streamlines and automates the intricacies of core systems, providing targeted solutions, smooth upgrades, collaborative implementations, and reduced total cost of ownership. With expertise spanning Personal, Commercial, Life, and Specialty Market segments, OneShield has successfully implemented 46 lines of business for clients globally.
OneShield Software Recent Developments
In its pursuit of delivering cost-effective insurance and an excellent member experience, Southern States Insurance Exchange made the decision in November 2021 to opt for OneShield Software's SaaS offering, OneShield Market Solutions, as a replacement for its legacy policy management system.
Similarly, in November 2020, OneShield Software, recognized as a provider of core software solutions to P&C insurance companies, secured a growth investment from a private investor group led by Bain Capital Credit, LP, and Pacific Lake Partners.
OneShield Software Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying OneShield Software applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of OneShield Software and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified OneShield P&C Solutions, OneShield Life Solutions, OneShield Market Solutions, customers.
OneShield Software Overview
62 Forest St.
Marlborough, MA, 1752, United States
1 774-348-1000
https://www.oneshield.com/
Ownership: - Bain Capital Credit, LP, and Pacific Lake Partners.
Number of Employees: 430
Functional Markets: CRM, ERP Services and Operations,
Key Verticals: Life Insurance, P&C Insurance, Specialty Insurance,
OneShield Software Key Enterprise and Cloud Applications
OneShield P&C Solutions, OneShield Life Solutions, OneShield Market Solutions,
OneShield Software Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
OneShield Software Revenue Breakdown By Type, $M:
OneShield Software Enterprise Applications Revenues By Functional Markets, $M:
OneShield Software Enterprise Applications Revenues By Verticals, $M:
OneShield Software Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
OneShield Software Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
OneShield Software Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified OneShield Software Customers
No. of OneShield Software Customers: 42
No. of OneShield Software Enterprise Applications Customers: 42
No. of OneShield Software Cloud Customers: x
No. of OneShield Software Cloud Subscribers: x
OneShield boasts a customer base of approximately 42+ entities, including Hiscox, Accident Insurance Company, Public Risk Underwriters of Florida Inc., Advantage Insurance, AlliedWorld, CapSpecialty, Federated Insurance, ICAT, The Hanover Insurance Group, Montpelier US Insurance Company, Main Street America, PMA Companies, Pure Insurance, SUNZ, and several others.
In October 2023, OneShield unveils its integration with Verisk's next-generation ISO Electronic Rating Contentâ„¢ (ISO ERCâ„¢). This collaborative effort with Verisk, a leading global data analytics and technology provider, represents a strategic initiative aimed at enabling insurers to diminish operating costs, mitigate risks, and expedite market entry. The integration stands as a significant milestone for OneShield, marking a substantial enhancement to its portfolio with state-of-the-art insurance solutions.
In July 2023, OneShield reveals a strategic partnership with JK Tech, a global IT services and solutions company. This collaborative venture is designed to enhance OneShield's delivery capabilities, solidifying their dedication to providing outstanding customer experiences. As the insurance industry navigates the ongoing evolution and adapts to swiftly changing market dynamics, there arises a growing need for state-of-the-art technology solutions. OneShield remains at the forefront of this transformative journey, presenting a comprehensive suite of cloud-based core systems and digital engagement solutions. These offerings are instrumental in assisting insurance carriers in streamlining operations, elevating efficiency, and enriching overall customer satisfaction.
OneShield Software Market Opportunities, M&A and Geo Expansions
In December 2022, Precisely, the global leader in data integrity, unveiled a partnership with OneShield, a digital core systems provider serving numerous leading property and casualty (P&C) insurers worldwide. This collaboration empowers OneShield's customers to leverage Precisely's EngageOne RapidCX solution, encompassing all facets of customer communications, spanning from design to delivery.
On January, 2022, OneShield Software, announced a fresh round of growth investment. The investment was led by Pacific Lake Partners, with participation from existing investors such as Bain Capital Credit, Maven Equity Partners, WSC & Company, and Peterson Partners.
Throughout 2021, OneShield achieved remarkable growth, increasing its annual recurring revenue by over 50%. The company closed 11 new license deals, expanding its client base to 38. This marked OneShield's most successful year on record, driven by the acquisition of new clients and the strengthening of relationships with existing ones. The newly secured funding will expedite investments in product innovation for both of OneShield's core platforms, OneShield Enterprise and OneShield Market Solutions, benefiting both current and future clients.
OneShield Claims automates and streamlines the largest variable expense for most organizations, the claims administration process which traditionally requires a high volume of manual interactions, therefore driving up the costs of administering a claim. With its intelligent, self-learning and highly customizable design, OneShield Claims is easy to configure and automate. It can automate complexities from the First Notice of Loss (FNOL) through to file closure across all lines of commercial, personal and specialty insurance.
OneShield Software Risks and Challenges
OneShield faces a potential risk as it concentrates primarily on delivering solutions for P&C insurers. The company's reliance on expansion into other vertical markets becomes crucial for its long-term success, and a failure to diversify may pose challenges in sustaining growth and market relevance.
Leadership changes in a company pose inherent risks, including potential loss of institutional knowledge and employee morale. Shifts in strategic alignment and talent retention challenges may arise, impacting the organization's overall stability. Stakeholder confidence, both internal and external, can be compromised, leading to potential execution issues and reputational damage. Mitigating these risks requires strategic succession planning, transparent communication, and support mechanisms for new leaders to ensure a smooth transition and sustained organizational performance.
OneShield Software Ecosystem, Partners, Resellers and SI
With corporate headquarters and direct sales operations situated in Marlborough, MA, along with additional offices in Australia, Canada, and India, OneShield predominantly conducts its sales directly. The company also collaborates with a few resellers, including Tech Mahindra, CGI, and MFX.
In June 2019, OneShield opted to augment and broaden its software development and quality assurance teams by inaugurating a new office in Goa, India. This strategic move aimed to leverage the expertise of renowned engineering schools in the region and attract highly skilled programming and system analysts.
OneShield Software Cloud Infrastructure Insights
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- OneShield Software Public Cloud and Infrastructure (IaaS)
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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