OWIT Global Continues to Support All US Program Business Growth, Including Claims and Premium Bordereaux
OWIT Global (OWIT), the leader in cloud-based insurance-specific microservices architected solutions to digitalize the P&C and A&H global insurance industry, is pleased to announce that another large-tier carrier is expanding its use of OWIT’s Insurance Workbench for Bordereaux and Data Management across its enterprise. The Insurance Workbench’s Data Integrity and Interchange solutions streamline the consumption, cleansing, and normalization of disparate data and the MGA/TPA onboarding process.
When OWIT Global was initially evaluated, this large-tier carrier’s business goal was to expand its program business while streamlining onboarding and data processing. OWIT was chosen over all other industry options because of its insurance-specific processing for premium, cash, and claims, and a precise artificial intelligence (AI) roadmap based on functioning use cases. Building on the success achieved with OWIT, the carrier is expanding its use of OWIT’s no-code environment to manage its onboarding and processing in other business units across its enterprise.
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“With the rapid growth of the program business market, OWIT continues to be a great option. OWIT is now advancing its platform to the next generation of bordereaux and data management to provide insurers with a dedicated Service Portal. This advancement will enable capacity providers to shift the onboarding, validation, processing, and correction of data files to their distribution,” said Wendy Aarons-Corman, CEO. “Distribution partners can also gain access to reporting, analytics, and other vital operational information at the discretion of their providers, creating greater transparency and efficiency across the ecosystem.”
Aarons-Corman continued, “This represents a significant advancement in how insurance data is managed and shared. As the market continues to evolve, OWIT remains focused on anticipating industry needs and ensuring its product roadmap delivers innovative solutions that help clients stay ahead of the curve.”
OWIT’s Insurance Workbench for Bordereaux and Data Management , is a no-code configurable tool that enables business users to onboard and manage all types of data streams. Insurance-specific data transactions are consumed, cleansed, and transformed into desired output formats. The solution includes support for premium, cash, claims, and contract management. Dashboards and reports provide insight into data completeness and trends.
OWIT’s Insurance Workbench is available as a shared SaaS model, dedicated SaaS model, hybrid model, or as a customer-hosted option.
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