OWIT Global | December 02, 2020
OWIT Global, a provider of insurance-specific microservices solutions for the global insurance industry, declares a serious arrival of their Bordereaux Management Solution. The new delivery grows insurance-specific business rules, furthers usefulness to help approaching and active data takes care of, and contains extra pre-characterized execution dashboards.
The Bordereaux Management Solution fathoms the insurance business' need to automate bordereaux preparing for MGAs, Carriers, and Brokers.
“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 climate, giving the intensity of onboarding and overseeing bordereaux data streams to the business client. Data is burned-through, scrubbed, and changed into an ideal yield record. Rules and outsider calls to approve data is likewise upheld.
“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.
Cision PR Newswire | October 13, 2020
Many interactions between businesses hinge on the ability for one party to provide a proof of insurance to the other. For example, delivering commercial shipments, accessing construction sites, or renting a commercial space each require handing over paper attesting to your insurance coverage. HawkSoft is partnering with the dynamic verification platform Certificial to bring a more modern solution to independent agencies. Never before has insurance coverage data been able to connect and send dynamic updates directly to certificate holders. This end-to-end visibility not only eliminates fraud and the misuse of forms but can improve compliance. Certificial uses cloud technology to offer a digital and dynamic proof of insurance. Instead of the old static point-in-time Certificates of Insurance, Certificial allows companies of all sizes to directly monitor, in real time, that a person or business are properly insured. When integrated with the HawkSoft agency management system, insurance agencies can keep Certificial in sync with their client and policy data automatically.
Azentio Software | July 02, 2021
Azentio Software, a Singapore-based software products company owned by Apax Funds, is pleased to announce the signing of a binding agreement to acquire Beyontec, a leading insurance technology company. The acquisition is conditional to the obtaining of all relevant regulatory approvals.
Beyontec employs over 300 people and serves over 65 customers in the United States, the Middle East, and Africa. The company provides a complete set of cloud-based accelerator tools and a core multi-line insurance administration system, and digital platform-based ecosystem solutions for the insurance sector.
Azentio's customer base and product suite will be expanded as part of the acquisition to become the leading banking, financial services, and insurance-led technology product business in high-growth markets. Azentio and Beyontec have significant synergies, enabling Azentio to provide a complete insurance product and end-to-end insurtech solutions for General, Health, Life, and Commercial insurance. In addition, the acquisition enables significant scale benefits and investments in next-generation insurance technology solutions.
In this transaction, Houlihan Lokey served as Beyontec's only financial advisor. Beyontec's legal advice was Katten Muchin Rosenman LLP. The company's legal counsel was Kirkland & Ellis LLP.
Azentio Software is a newly formed company in 2020 formed out from 3i Infotech, a global information technology company. Azentio Software offers mission-critical, vertical-specific software products to customers in the banking, financial services, and insurance industries, including critical products such as Kastle (universal banking platform), AMLOCK (compliance software suite), Premia Astra (core insurance software), Orion (enterprise resource planning software), and MFund Plus (asset management platform). Azentio has over 700 clients in more than 48 countries and a strong team of over 1,600 people spread throughout 9 locations worldwide.
Beyontec Solutions is an insurance solution provider specializing in general insurance, takaful, life insurance, medical insurance, and insurance broking. Beyontec's varied insurance expertise and knowledge have allowed it to develop transformational solutions that combine the best insurance practices worldwide. These include the Beyontec Suite, a core insurance administration solution, specialized accelerator tools, and a set of industry platform solutions.