Policy Lifecycle Management Solution
OWIT’s next generation Policy Lifecycle Solution is the first platform to be fully developed on an entirely configurable microservices architecture. It includes a pre-defined set of underwriting transactional services and templates and pre-built processes and functionality for each individual transaction.
At the Heart of the Solution
- User Experience Service to support the creation of product definitions, pages, data fields, and visual experience
- Rules Service to support any workflow logic and business rules execution
- Rating Service to define and calculate rates
- Integration Service to support 3rd party calls outs – data enrichment, payments, data uploads
- Post-Bind Transactional Services to support all policy changes needed throughout a policy lifecycle
- Renewal Processing Service
- Cancellation/Reinstatement Service
- Endorsement/MTA Service
- Special Endorsements Service
- Audit Service
OWIT GLOBAL VALUE PROPOSITION
All clients of OWIT Global’s insurance-specific microservices can reuse these microservices for any other project within their organization. For example, the User Experience microservice can be leveraged outside the Bordereaux Management Solution for any portal need, whether internal or external, including extending a legacy system to the internet or providing a single view of disparate back end systems to a broker.
Click on any microservice to learn more.