OWIT Global Architects a High-performant, Tool-based Solution Optimized for the Cloud
WEST HARTFORD, Conn., April 29, 2025 -- OWIT Global (OWIT), the leader in cloud-based insurance-specific microservices architected solutions to digitalize the global insurance industry, is pleased to announce the availability of a newly constructed Rating and Rules solution that differentiates from the existing vendor options.
The new Rating and Rules solution provides the industry with a flexible option that can easily adapt to market trends, regulatory changes, and business requirements and is configured with a business-user-friendly, no-code tool, creating a visual representation of the logic that includes the resultant values such as premiums, rates, and factors.
The solution can run standalone or integrated (via APIs) with existing solutions through the configurable tool, reducing the need for IT involvement.
OWIT's Rating and Rules solution has been developed on a modern architecture that optimizes a cloud-based framework. This approach ensures a highly scalable solution that can handle varying workloads and data sets seamlessly in a highly efficient manner. Coupled with strong security measures, including encryption and access controls, ensure OWIT's Rating and Rules solution is highly performant. Features such as "what-if" scenarios and workflow illustrations further enhance the user experience.
Customers leveraging OWIT's data integrity solution, Insurance Data Management (IDM), can integrate the solution to run rating and rules against incoming data distribution streams. For customers that are leveraging OWIT's Insurance Process Management (IPM) solution, the Rating and Rules solution can be used for any process-driven operation, such as Submission Management and Point of Sale.
OWIT's solutions can offer significant cost savings over the traditional model, where Carriers, Reinsurers, Brokers, MGAs, MGUs, TPAs, and other partners attempt to address their respective challenges of data and insurance processing separately.
To learn more about OWIT Global, check out our website at www.owitglobal.com.
About OWIT Global
OWIT Global (OWIT) is an insurance technology company specializing in solutions built on a unique suite of reusable insurance-specific microservices. OWIT's solutions include Bordereaux and Binder Management, Business to Business/Consumer Portals, User and Point of Sale Portals, Rating, Document-lite Generation, and Insurance Data Transformation. Each OWIT solution is built on a collection of microservices that allow for unprecedented reusability to deliver an array of additional solutions to solve pressing pain points for both immediate and longer-term business benefits. OWIT's solutions can be deployed standalone or integrated with a Broker's, Carrier's, or MGA's existing environment to maximize investments. To see the power and flexibility of the OWIT catalog of cloud-based microservices, visit www.owitglobal.com.
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