Solutions MGAs/MGUs
OWIT Global’s solutions for the Managing General Agent (MGA) and the Managing General Underwriter (MGU) provide a modern technology system that works with the MGAs and MGUs in any phase of their growth, from Submission Management to full Policy Administration, including reporting Bordereaux to their partners.
From startups who need to grow into a system to mature MGAs and MGUs looking for a more modern solution to support new products or extend their solutions.
The cost of the OWIT Global solutions for the MGA and the MGU is industry-changing.
And, made up of mature insurance experts, the OWIT Global team can work with you on getting to market quickly with a roll-out that works alongside your operating expense.
Submission Management
- A thin slice of functionality to start writing business quickly and cheaply
- Supports and manages insurance submissions
- Data capture and storage
- Document generation and delivery
Rating
- Simplifies configuration of complex rates for business agility in new markets
- Creates operational efficiencies across product development
- Deploys via “black-box” or integrated with existing environment
Point of Sale
- Both B2B and B2C Portals
- Enhances Customer Experience (CX) for new quotes, quote management, and binding
- Includes flexible rating for all lines of business
- Extend existing legacy or migrate to full OWIT Policy Administration
Document Generation
- Light touch to fit the needs of MGAs/MGUs
- Streamlines production of all document types
- Includes an integrated rules engine for document conditions
- Helps insurance organizations respond quickly to changing market conditions
Policy Administration
- A no-code approach to quickly configure and deliver all types of transactions to support MGAs/MGUs
- Support for the complete lifecycle for any line of business, P&C and A&H
- Can be implemented in stages depending on needs of MGA/MGU, i.e., data entry to point of sale to full policy administration
Bordereaux Management
- Simplifies the creation and distribution of Bordereaux production
- Enhances the service provided to multiple carriers
- Improves speed of onboarding new Insurer engagements
- Delivers time savings, improves efficiencies, and data accuracy
- Enables rapid analysis of portfolio performance across risk levels and claims data
BDX-Central
- Market-wide subscription to connect bordereaux and file-based processing needs
- Support for policy and risk level data, Cash reconciliation and, Claims validation
- Cloud-based, secure service offering significant cost savings
Renewal Processing
- Review claims and loss runs, integrating 3rd party data sources if needed
- Re-rate policies with rate changes and generate renewal quotes, policies, and invoices
- Institute straight-through processing for automatic renewals
In Development
