Solutions

OWIT Global’s solutions for MGA/Us provides a modern technology system that works with the MGA and MGU in any phase of their growth, from Submission Management through to full Policy Administration, including reporting Bordereaux to their partners

From startups who need to grow into a system to mature MGAs looking for a more modern solution to support new products or extend their solutions.  

The cost of the OWIT Global solutions for MGA/U’s is industry- changing.  

And, the OWIT Global team is made up of mature insurance experts who 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 continue to full OWIT policy administration

Document Generation

  • Light touch to fit the needs of MGA/Us
  • 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
  • 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, i.e., data entry to point of sale to full policy administration

Billing

  • A comprehensive and configurable system to support unique billing needs
  • Direct, agency, and account bill
  • Integrate with existing systems as a headless service or license as a complete solution

Bordereaux Management

  • Simplifies the creation and distribution of Bordereaux production
  • Enhance 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

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

Analytics

  • Not taken up analysis
  • Account performance and Loss ratios 
  • Track whether agreement thresholds are being approached or met
  • Easily customize and share dashboards or real-time reports