Tier 1 Carrier Licenses OWIT Global’s Bordereaux Management Solution to Support A&H and P&C MGA Business

The Tier 1 carrier performed a thorough evaluation of OWITs capabilities and underlying architecture before adopting OWITs Bordereaux Management Solution.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, October 6, 2021
Information
Tags: 
Technology, Mobile, Wireless, Insurance, Finance, Consulting, Small Business, Banking, Professional Services, Other Technology, Software, Networks, Internet, Hardware, Data Management, Insurance, PAS, Solution, Sphinx (documentation generator), Environment, IOT, Technology, Architecture, Maintenance, EMEA, Organization, Investment, Industry, Risk management
Geotags: 
Connecticut, United States
⚠ generated by AI ↴
Organisation: 
OWIT GLOBAL
Summary
Key Points: 
  • The Tier 1 carrier performed a thorough evaluation of OWITs capabilities and underlying architecture before adopting OWITs Bordereaux Management Solution.
  • The new version of the solution supports the latest architectural designs to maximize cloud-hosting efficiencies and security.
  • The insurance-specific processing proved to be proficient and advanced due to OWITs commitment to continuous investment in the solution.
  • Built on microservices, the OWIT Bordereaux Management Solution supports the ingestion of various file formats, the cleansing and transformation of the data through configurable business rules, and, where needed, external validations to other services.


OWIT Global (OWIT), a provider of insurance-specific microservice solutions for the global insurance industry, is pleased to announce that a Tier 1 carrier has licensed OWIT’s new Bordereaux Management Solution to streamline the handling and transformation of their incoming A&H and P&C MGA data and exportation to their back-end databases.

“The Tier 1 carrier performed a thorough evaluation of OWIT’s capabilities and underlying architecture before adopting OWIT’s Bordereaux Management Solution. The new version of the solution supports the latest architectural designs to maximize cloud-hosting efficiencies and security. This is coupled with a raft of extended business and operations functions and features to improve the processing of bordereaux-based business dramatically,” said Julian James, President EMEA and Chief Revenue Officer. “The insurance-specific processing proved to be proficient and advanced due to OWIT’s commitment to continuous investment in the solution.”

Built on microservices, the OWIT Bordereaux Management Solution supports the ingestion of various file formats, the cleansing and transformation of the data through configurable business rules, and, where needed, external validations to other services. OWIT’s reusable microservices minimize the development and IT maintenance costs common to insurance organizations unable to engage with customers in new digital ecosystems due to the pain points of an enterprise rip-and-replace initiative.

James continued, “We are proud of how we are solving this resource-intensive need. The industry response has been exciting. Any insurer that is manually dealing with bordereaux data or being hampered by systems that are causing processing inefficiencies should take some time to discuss how OWIT can help to solve these issues and automate at a low price point.”

About OWIT GLOBAL

OWIT is a global insurance technology provider offering solutions built on a modern architecture designed to simplify innovation and integrate with existing customer environments to maximize their investments. The OWIT portfolio is comprised of discrete, value-add insurance-based microservices for Bordereaux, Rules, Rating, Portal Configuration, A&H, and Specialty Point of Sale and Document Generation with future capability to tailor a full suite of Policy Administration System (PAS) microservices. The company's offerings can be deployed standalone or integrated with an insurer’s existing environment. OWIT's architecture is also designed to support emerging technologies and functionality such as block chain and IoT. For more information about OWIT Global, please visit www.OWITGlobal.com.

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