BDX-Central, the insurance industry’s only cloud-based environment advances with new insurance-specific capabilities including point-to-point data exchange and Artificial Intelligence, as additional insurers enter the ecosystem.
West Hartford, Conn – June 7, 2022 –OWIT Global (OWIT), a provider of insurance-specific microservices architected solutions for the global insurance industry, is pleased to announce additional enhancements to the bordereaux data exchange, BDX-Central, a cloud-based, modern eco-system supporting data exchange through a no-code environment, removing the technology and business burden of bordereaux processing.
With the advent of subscribers and prospect discussions, BDX-Central has advanced to support any type of data transfer and cleansing, both internal and external, and the inclusion of Artificial Intelligence to streamline processing. Also advancing are insurance-specific processing needs, including progression of contract management, policy, cash, claim and audit capabilities, additional reporting support, and the expansion of system connectors.
“OWIT Global continues to invest in the enhancements of our BDX-Central solution, leveraging the industry’s feedback on additional needs. With the increase in data exchange across the industry, we see more interest in solving the need for clean data across multiple transaction types and additional systems, beyond bordereaux,” said Wendy Aarons-Corman, chief executive officer of OWIT Global. “The industry has internal data integrity issues and with the addition of other distributions, the issue has become wider. BDX-Central is the industry’s solution to support clean data interchange across the ecosystem, promoting good data for analysis and product development.”
BDX-Central is a secure hub that consumes, cleanses, and transforms data into formats needed for partners to consume. With numerous insurance organizations subscribing to BDX-Central, the data-sharing requirements will become streamlined for members, resulting in a cost-effective solution to replace the current, expensive approach.
As a cloud-based, market-wide shared solution, BDX-Central can offer significant cost savings over the traditional model, where Carriers, Reinsurers, MGAs, MGUs, TPAs, and other partners separately attempt to address their respective challenges of bordereaux processing. The configuration and onboarding of each bordereaux template are via a no-code platform. This tool is used by business analysts to configure and manage the data streams. The combination of the platform and the tool dramatically improves the quality and efficiency of processing bordereaux business.
To learn more about OWIT Global’s BDX-Central, CLICK HERE.
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About OWIT GLOBAL
OWIT Global (OWIT) is an insurance technology company specializing in solutions built on a unique suite of reusable insurance-specific microservices. OWIT’s solutions include Bordereaux and Binder Management, Business to Business/Consumer Portals, User and Point of Sale Portals, Rating, Document Generation, Insurance Data Transformation, and Policy Administration. Each OWIT solution is built on a collection of microservices that allow for unprecedented reusability to deliver an array of additional solutions to solve pressing pain points for both immediate and longer-term business benefits. OWIT’s solutions can be deployed standalone or integrated with a Broker’s, Carrier’s or MGA’s existing environment to maximize investments. To see the power and flexibility of the OWIT catalog of cloud-based microservices, visit www.owitglobal.com.solutions to solve pressing pain points for both immediate and longer-term business benefits. OWIT’s solutions can be deployed standalone or integrated with a Broker’s, Carrier’s or MGA’s existing environment to maximize investments. To see the power and flexibility of the OWIT catalog of cloud-based microservices, visit www.owitglobal.com.
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