OneShield Software aligns with UrbanStat to enhance real-time analytics and machine learning for insurers

Marlborough, MA, June 28, 2018 (GLOBE NEWSWIRE) -- OneShield Software’s (OneShield.com) cloud-hosted, full-suite policy administration system now integrates with analytical solutions from UrbanStat, Inc., (UrbanStat.com) a leader in the geo-analytics space.

Leveraging UrbanStat’s pre-built APIs, OneShield Enterprise clients can accelerate their risk-management and predictive analysis capabilities by using hundreds of additional data points related to geography, weather, emergency response and other risk factors.

“UrbanStat’s pre-built risk management and analysis processes allow underwriters to make better decisions on risks in real-time,” says Jennifer Clark, OneShield’s Director of Alliances. “Whether it is risk concentration at the level of a book of business, or highlighting of specific risks applicable to a particular location being considered – virtually every geo-analytics use-case can be accomplished rapidly.”

OneShield Enterprise already has robust real-time reporting and portfolio analysis capabilities empowering finance, operations and marketing to make run-time decisions. With UrbanStat, clients can take their analysis to a deeper level to model and understand impacts of underwriting and claims not only across the business but within specific geographies and regions in real-time.

“Teaming up with OneShield was an easy decision,” says Anil Celik, Chief Executive Officer of UrbanStat. “Not only is OneShield a proven software provider in the property and casualty insurance marketplace, we also share similar approaches to software design and scalability.”

“We used OneShield Services Design capabilities to rapidly integrate UrbanStat’s services into our workflows”, said OneShield’s VP Engineering Rakesh Parikh, “This provided an excellent test-case for our new framework that enables the building of custom services for B2B and B2C needs.”

Enhancing Decision-Making Across Business Lines and Functions“While UrbanStat’s solutions are focused on helping underwriters make better-informed decisions, the geographic and ideal customer profile data generated during risk analysis can also help drive decisions made by marketing, actuarial, and claims departments”, notes Celik.

Data sets for millions of customers can be analyzed effortlessly, whether it’s on a national or regional scale. Reports can be generated easily by business users and shared with colleagues. UrbanStat’s solutions not only include claim prediction and pre-renewal risk analysis capabilities, but also offer real-time alerts to weather incidents, catastrophic events or even an increasing amount of customer accumulations in high-risk areas. Clark adds “It’s a win-win for the insurance industry and one that we’re proud to be a part of”.

About OneShield
OneShield Software delivers core business software solutions to the global insurance and broader financial services industry, deployed in the cloud or on-premise. Our portfolio of standalone, subscription and cloud-based software products includes enterprise-class policy management, billing, claims, rating, product configuration, business intelligence, and analytics solutions that leverage a tool-based open architecture and single data model platform to streamline your business. OneShield Software automates and simplifies the complexities of core systems with targeted solutions, seamless upgrades, collaborative implementations, and lower total cost of ownership.

With corporate headquarters in Marlborough, MA and offices in India, Canada, and Australia, OneShield Inc. has a total of 50 products in production across the P&C, life and health insurance markets.

For more information, visit OneShield.com.

About UrbanStat, Inc.
UrbanStat helps insurers better predict the likelihood of “make or break” claims at the time of underwriting. Its core technology – a fully-automated underwriting API – uses a unique ensemble of geographic modeling, statistical modeling, machine learning, and human intelligence. Besides underwriting automation, UrbanStat offers end-to-end analytic solutions that enable underwriters, risk engineers, reinsurance managers, and C-level managers to prepare and access tabular, visual and spatial reports for their portfolio within seconds.

For more information, visit UrbanStat.com.