Long-duration Venture Capital Firm for Insurance Startups chooses OneShield’s SaaS for MGAs to provide optimized operational efficiencies and fuel its U.S. expansion.
Beat Capital Partners (Beat), a highly-successful insurance industry investor in the United Kingdom, is setting its sights on the U.S. marketplace and has chosen OneShield Software’s SaaS technology platform, OneShield Market Solutions, to launch and incubate new Managing General Agents (MGAs).
Beat provides new ventures with startup funding, infrastructure, risk capital, and A+ rated paper, plus experienced guidance and support from leadership with vast insurance sector expertise.
A key to Beat’s entry into the U.S. market is the out-of-the-box features of the OneShield Market Solutions (OMS) SaaS platform. OMS provides functionality for policy management (quoting, binding, and servicing), billing (invoicing through to payment), and claims administration (first notice of loss through to payment), including document management, reporting, and analysis —all configurable for the complex requirements of MGAs.
“We conducted an extensive review of available insurance technology platforms and selected OneShield for a combination of reasons, including OMS’s all-in-one pricing model, overall system capabilities, and their deep industry experience,” says April Galda Joyce, Beat Capital America’s CEO. “OneShield’s team listened to us and clearly understood our overall business plan, and the platform itself has an excellent reputation in the startup and MGA marketplace.”
“Last year was a banner year for OneShield’s SaaS offering as many startup insurers and MGAs sought to adopt scalable and configurable applications with proven rapid time-to-market implementation timelines,” says OneShield Chief Revenue Officer Liza Smith. “We are so proud to be able to meet these same criteria for Beat Capital and look forward to partnering as they grow their business in the U.S. market.”
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