OWIT Global, a provider of insurance-specific microservices solutions for the global insurance industry, announces an advanced release of their Bordereaux Management Solution. The new release expands insurance-specific business rules, furthers functionality to support incoming and outgoing data feeds, and contains additional pre-defined performance dashboards.
The Bordereaux Management Solution solves the insurance industry’s underserved need to automate bordereaux processing for both MGAs and Carriers. Today, the handling of policy, claims, and cash data is onboarded manually or by software development, both of which are quite time-consuming.
“We continue to advance our solution with input from our existing customers. For the carrier, we support complex data sets from multiple formats, such as excel spreadsheets with multiple cross-referenced tabs and delimited/fixed-length file formats. For our MGAs, we support extraction and mapping of the data from multiple databases to various carrier contract formats,” said Wendy Aarons-Corman, Chief Executive Officer of OWIT Global. “Our solution also has an analytics service built-in, providing our customers with operational dashboards to evaluate the data running through the solution.”
The OWIT Global Bordereaux Management Solution is a no-code, configurable environment, giving the power of onboarding and managing bordereaux data streams to the business user. Data is consumed, cleansed, and transformed into a desired output file. Rules and 3rd party calls to validate data is also supported.
“Our customers are experiencing an immediate ROI. The time to configure and test has a dramatic reduction compared to the traditional model,” Aarons-Corman continued. “We encourage the industry to take some time to investigate our solution. There is a huge advantage in leveraging an insurance-specific solution that is continually advancing with input from other insurers. It is a great opportunity to get a feature-rich solution at a reasonable cost.”
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 insurance-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 blockchain and IoT. For more information about OWIT Global, please visit www.OWITGlobal.com.