OneShield Acquires Strategic Assets of Clear Data Strategies
Staff Writer | May 21, 2014
OneShield announces it has reached an agreement to acquire specific strategic and intellectual property assets of Clear Data Strategies. CDS provides both subscription cloud-based and site-installed software solutions for claims processing and policy administration for the property and casualty insurance market.
Customers of its CDS’s Instream and Pyramid solutions include mid-sized and niche P&C carriers, self-insured organizations, specialty workers compensation insurance providers requiring full NCCI compliance, and TPAs and MGAs.
OneShield will absorb the CDS product line, and continue to support its growing base of niche customers. OneShield will also leverage CDS's 25 years of claims processing experience and use it to enhance the capabilities and functionality of its own claims administration product offering currently in development.
"We are excited to be adding the CDS family of solutions to our suite of enterprise products," says Glenn Anschutz, OneShield's president and CEO. "This acquisition will expand our opportunities into lower-tier carriers, as well as specialty niche markets, where hosted and cloud-based solutions are increasingly popular."
"From an intellectual property standpoint, this also significantly augments our existing expertise in the area of claims processing," he adds. "The CDS team brings an aggregate of 60-plus years of experience in building rich and robust functionality into claims administration solutions."
Among key executives joining OneShield will be CDS CEO Bill Kuebler, who has over two decades of experience running insurance technology companies.
"We look forward to being part of the OneShield team and strongly believe we will expand our own market penetration with the CDS set of cloud-based products by leveraging the strong OneShield brand," says Kuebler. "OneShield's expansive growth and strong reputation for focusing on products and customers, along with the continued market shift to cloud-based solutions, make for a perfect combined team."
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