WEST HARTFORD, Conn.–(BUSINESS WIRE)–OWIT Global, the leader in value-add microservices technology for the global insurance industry, announces that it has added a mid-tier carrier to its list of clients.
By combining a set of OWIT Global’s microservices, the carrier will be extending their existing commercial products to their producers through the OWIT Point of Sale (POS) Solution, which is built on OWIT microservices, namely User Experience Service, Rules Service, Document Service and Integration Service.
The Point of Sale (POS) solution will integrate key building valuation and underwriting information through APIs sourced from a major underwriting provider and a data analytics provider. In addition, the POS will integrate with the carrier’s rating service and their licensed policy administration system. Producers will receive a real-time bindable quotes within 2 to 3 minutes.
Because OWIT microservices are reusable, the carrier will also be leveraging the OWIT Digital Platform to provide their producers with a Broker Service Portal that will bring a single user experience across many disparate back end systems.
Wendy Aarons-Corman, CEO and President, Americas, stated, “This carrier immediately understood the value proposition of the microservices and the opportunity to extend their existing technology investment to any distribution. Because our microservices are reusable for other projects, this carrier will also be able to continuously improve the distribution of their product offerings and services, extending their digital platform strategy. The OWIT Global team is continuously adding to our catalog of microservices and expect we will be able to provide ongoing value to our carrier’s growth in the coming years.