LONDON, UK, October 8, 2019 -- OWIT Global, a leading provider of value-add microservices technology for the global insurance industry, today announced a partnership with ACORD, the industry’s global standards-setting body. As an ACORD member and a Licensed Integrator Partner to ACORD Solutions Group, OWIT will leverage ACORD assets and services in conjunction with their own suite of microservices, with a unified focus on delivering specialist solutions to the insurance industry.
As the first member of the ACORD Solutions Group Licensed Integrator Partner Program, OWIT Global will be aligned with ACORD’s mission of driving global data consistency, accuracy, and efficiency through automation, straight-through processing, and data standardisation.
“Our joint objective is to drive out the frictional cost from business processing and expand the global adoption of standardised message exchange through microservices, the next generation of technologies, to drive optimisation,” said Julian James, President EMEA & Asia Pac and Chief Revenue Officer of OWIT Global.
OWIT Global will leverage ACORD’s industry-standard data integration and transformation solutions, including ACORD iConductor, to support its new initiatives for the London Market, which include delivering a cloud-based set of ACORD-specific microservices supporting policy processing capability, in combination with messaging and electronic placing.
“We are delighted to enrich OWIT Global’s expansive insurance-specific microservices offering with ACORD’s next-generation assets and services,” said Mark Bennett, Vice President – Business Development, ACORD. “OWIT Global’s commitment to streamlining and automating insurance processing, in collaboration with the seamless integration capabilities of ACORD iConductor and our other solutions, is a strong, visionary partnership that will greatly benefit the global market.”
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. For more information, visit www.owitglobal.com.