OWIT Global’s Bordereaux Management Solution Eases the Pain of Handling Multiple Changing Data Formats for Policy, Claims, and Cash
WEST HARTFORD, Conn.–(BUSINESS WIRE)–OWIT Global (OWIT), the leader in cloud-based insurance-specific microservices architected solutions to digitalize the global insurance industry, is pleased to announce that a Swiss reinsurer successfully implemented OWIT’s Bordereaux Management Solution.
The global reinsurer works with several specialized property & casualty MGAs who have delegated underwriting authority to send bordereaux reports containing policy, claims, and premium accounting. The reinsurer required a solution to provide the correct format of data to their accounting, claims, and regulatory systems.
With OWIT’s Bordereaux Management Solution, the reinsurer now ingests, cleanses, and transforms data into formats needed to consume, resulting in a cost-effective solution to exchange data and improve data integrity for more accurate portfolio analytics.
“We are delighted to announce another highly successful implementation of our Bordereaux Management Solution. This further demonstrates the flexibility and agility of the solution to support Reinsurers, Carriers, Brokers, and MGAs,” said Julian James, President of EMEA and Global Chief Revenue Officer of OWIT Global. “In addition, the solution supports the ingestion of SOV and Treaty/Facultative-based data.”
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The configuration and onboarding of each bordereaux template are via a no-code platform. This tool is used by business analysts to configure and manage data streams. The combination of the platform and the tool dramatically improves the quality and efficiency of processing bordereaux business.
About OWIT GLOBAL
The OWIT portfolio is built on a Digitalization Insurance Enterprise Management platform (O/DIEM) to support the insurance industry’s need to reinvent and improve processes and its need for clean data across the value chain. O/DIEM assimilates data ingestion and transformation via OWIT’s Delegated Data/Bordereaux/Binder Management solutions and other solutions such as Broker Portal, Point of Sale, Rating, Rules, and Document Generation. O/DIEM can also connect to a client’s existing environments to enable the transformation (cleanse and normalize) of both data and digitalization process.
OWIT is a global insurance specialist technology provider for carriers, brokers, reinsurers, and MGA/MGUs. Since OWIT’s incorporation in 2018, our solutions have been designed and built from the “ground up” and the “cloud down” on a modern architecture designed to optimize no-code and cloud deployment. Its mission is to simplify innovation via the digitalization of processes and data, in harmony with the integration of our customers’ existing environments to maximize their investments.
For more information about OWIT Global, please visit www.OWITGlobal.com.
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