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Introducing the first automated and configurable end-to-end policy lifecycle management platform designed specifically for Private Placement Life Insurance (PPLI) providers.

OneShield’s technology breaks new ground with a transaction-based solution delivering an operationally-efficient platform for product and account lifecycle management specifically designed for PPLI producers — all within a cloud-based “As-a-Service” environment.

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Private Placement Life Insurance (PPLI)

As a rapidly growing, yet highly-specialized market sector, Private Placement Life Insurance (PPLI) products offer high net-worth clients a tax-free investment alternative and estate planning tool.

Until now, PPLI providers were burdened with a largely manual, paper-based, and error-prone process for issuing, rating, and managing these complex and often custom-tailored insurance products.

Utilizing OneShield Software’s “As-a-Service” cloud-based core system technology platform, PPLI providers can quickly assess and acquire new business opportunities. By leveraging automated processes and workflows for task and document management they can improve financial operations, enhance client communication, reduce operating costs, and ensure adherence to global compliance and regulatory requirements.

Policy

OneShield’s cloud-based platform offers a solution designed specifically for the nuances for PPLI policy handling. A pre-built end-to-end policy management solution offered within a cost-effective and secure “As-a-Service” environment provides an automated approach to a traditional timely manual process.

With an abundance of pre-configured and customizable features and functions, OneShield’s end-to-end PPLI solution automates workflows, business rules, customizable processes, document management, and transaction processing.

From client acquisition to policy design to relationship management, OneShield’s platform allows you to focus on the mission-critical elements of running your business.

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Billing

Designed specifically for the unique billing requirements of the PPLI market, OneShield delivers an enterprise-level accounts payable and receivable solution. Leveraged to generate invoices, track payables and receivables, process reconciliations, and resolve customer and partner inquiries quickly.

With its pre-built PPLI content and value-add features, you can handle a wide variety of billing, payment, and commission management scenarios. The solution contains workflows for ensuring adherence to financial reporting, anti-money laundering, and (KYC) Know Your Customer regulations.

Additionally, the solution offers rich and highly-customizable reporting and analysis tools to give your managers and leaders real-time and actionable business data.

Termination

Whether it’s a cancelation, transfer, or claim, OneShield’s PPLI solution helps ensure you reduce overhead expenses, improve operational efficiencies, and heighten service quality during policy terminations.

With its highly configurable design, the solution automates all stages of the termination process including complete file and account management, billing and time tracking, document processing as well as detailed reporting and analysis.

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Illustrations

OneShield’s PPLI solution includes extensive pre-built and configurable support for policy performance illustrations, including current, non-guaranteed and guaranteed illustrations.

The premium, cash surrender value, and death benefits are computed automatically based on your selected assumptions. OneShield’s solution contains pre-built and customizable content for legal purposes and the narrative summary, including policy description, terms and features, as well as underwriting discussions, definitions and key terms, and disclaimers.

Entity Relationship Management (ERM)

OneShield’s PPLI solution has an Entity Relationship Management (ERM) component that gives your business partners access to real-time information needed to help facilitate the customer acquisition and servicing process through an intuitive browser based application. This includes the Insured, Policy Owner, Beneficiary, Business Introducers or any 3rd party that represents an individual or an organization.

This module serves as an enhanced repository containing additional Know Your Customer details, such as personal, tax, beneficial owner information and certifications, and documentation for all stakeholders. It helps manage hierarchical and relationship complexities across individuals, and individual/organization relationships, where different stakeholders can play varied roles for diverse insurance transactions.

OneShield’s ERM maintains the history and version control operations for an entity, and can be integrated with third party systems.

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