Large Tier Carrier Successfully Implements OWIT Global’s Bordereaux Management Solution
Built on microservices, OWIT’s Bordereaux allows rapid automation of manual processing.
West Hartford, CT – March 11, 2020 – OWIT Global, the leader in insurance-specific microservices solutions for the global insurance industry, is pleased to announce that a large-tier carrier client successfully implemented the company’s Bordereaux Management Solution in just three months from start to finish.
This major carrier, which provides specialty and standard commercial lines insurance products through admitted and surplus lines insurance company and managing general underwriter (MGU) subsidiaries, automated a traditionally manual process of receiving files, cleansing, and keying data by leveraging OWIT Global’s Bordereaux Management Solution (OWIT’s Bordereaux). Built on a cloud-based microservices architecture, OWIT’s Bordereaux consumes, cleanses, logs and transforms data prior to importing the data into the carrier’s database.
OWIT’s Bordereaux supports premium, cash and claims processing, includes reports and an analytics tool for evaluating the consolidated, incoming data, and can be easily integrated into any existing transactional system of record. Additionally, OWIT’s Bordereaux gives clients the ability to manage binding authority as well as claims authority referrals, and offers support for brokers, carriers, Lloyd’s coverholders, managing general agencies (MGAs), MGUs, and reinsurers.
“Our Bordereaux Management solution is truly adding value to both carriers and MGAs, streamlining the flow of disparate data across the value chain,” said Wendy Aarons-Corman, CEO and president of OWIT Global. “We attribute the success of this implementation cycle to not only our ‘no-code’ tool-base, but also to a well-managed project plan with years of Bordereaux experience on both sides. OWIT’s Bordereaux drives out the manual costs and is worth a discussion.”
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 cloud-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.