Beat Capital Partners (Beat), a venture capital investor focused on the insurance industry in the UK, has selected OneShield Software’s SaaS technology platform for managing general agents (MGAs) to offer optimised operational efficiencies and drive its expansion in the US.
Beat offers new ventures with startup funding, infrastructure, risk capital, besides guidance and support from leadership with insurance sector expertise.
OneShield offers solutions for P&C insurers and MGAs of all sizes.
Beat claimed that a key to its entry into the US is the ‘out-of-the-box’ features of OneShield Market Solutions (OMS) SaaS platform.
OMS offers policy management functionality, billing, and administration of claims, including document management, reporting, and analysis, with all being configurable for the intricate requirements of MGAs.
Beat Capital America CEO April Galda Joyce said: “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.
“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.”
OneShield chief revenue officer Liza Smith said: “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.
“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 US market.”