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OWIT Global (West Hartford, Conn.), a provider of cloud-based insurance-specific microservices architected solutions, has announced that a Swiss reinsurer successfully implemented the vendor’s Bordereaux Management Solution.
Julian James, President of EMEA and Global Chief Revenue Officer, OWIT Global.
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, OWIT Global reports. The company required a solution to provide the correct format of data to its 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, the vendor says.
“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,” comments Julian James, President of EMEA and Global Chief Revenue Officer, OWIT Global. “In addition, the solution supports the ingestion of SOV and Treaty/Facultative-based data.”
The configuration and onboarding of each bordereaux template are via a no-code platform, OWIT says. The 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.
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