A Combination of OWIT Global Microservices Provide a Digital Platform to Solve Point of Sale AND Broker Portal Need
WEST HARTFORD, Conn.–(BUSINESS WIRE)–#agencyportal–OWIT Global, the leader in value-add microservices technology for the global insurance industry, announces that it has added a mid-tier carrier to its list of clients.
By combining a set of OWIT Global’s microservices, the carrier will be extending their existing commercial products to their producers through the OWIT Point of Sale (POS) Solution, which is built on OWIT microservices, namely User Experience Service, Rules Service, Document Service and Integration Service.
The Point of Sale (POS) solution will integrate key building valuation and underwriting information through APIs sourced from a major underwriting provider and a data analytics provider. In addition, the POS will integrate with the carrier’s rating service and their licensed policy administration system. Producers will receive a real-time bindable quotes within 2 to 3 minutes.
Because OWIT microservices are reusable, the carrier will also be leveraging the OWIT Digital Platform to provide their producers with a Broker Service Portal that will bring a single user experience across many disparate back end systems.
Wendy Aarons-Corman, CEO and President, Americas, stated, “This carrier immediately understood the value proposition of the microservices and the opportunity to extend their existing technology investment to any distribution. Because our microservices are reusable for other projects, this carrier will also be able to continuously improve the distribution of their product offerings and services, extending their digital platform strategy. The OWIT Global team is continuously adding to our catalog of microservices and expect we will be able to provide ongoing value to our carrier’s growth in the coming years.
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 cloud-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 block chain and IoT.
To learn more about OWIT Global’s Microservices services CLICK HERE