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West Hartford, Conn. – March 01, 2022 – OWIT Global (OWIT), a provider of insurance-specific microservices architected solutions for the global insurance industry, is pleased to announce that Bowhead Specialty Underwriters, Inc. (Bowhead), a provider of specialty liability coverages, has selected OWIT’s Document Generation Solution to extend its existing underwriting system. OWIT’s Document Solution will enable Bowhead to easily configure and manage documents without vendor dependency.
“OWIT’s modern, open technology easily integrates with our existing solution, supporting our need to automate our high-volume document count,” said Bob Spina, chief information officer of Bowhead. “We appreciate the lightweight microservices approach that eases the integration. The no-code environment to manage documents will support our need to support the company’s plan for growth. In addition, OWIT’s well-versed insurance experts were able to help our team create a long-term, practical roadmap.”
OWIT’s microservices solutions include Bordereaux Management, Rules Engine, Rating Engine, front office applications including portal configuration, Point-of-Sale, and Document Generation, and in the future, policy administration transactional services. These solutions can be leveraged by insurance companies, brokers, agents, MGAs, and MGUs as a full replacement for legacy core administration solutions or implemented in stages to improve automation. OWIT’s reusable microservices minimize the development and IT maintenance costs common to insurance organizations that can’t engage with customers in new digital ecosystems due to the pain points that typically accompany an enterprise rip-and-replace initiative.
“After spending time with the Bowhead team and their underwriting system vendor, we knew we would have a successful partnership,” said Wendy Aarons-Corman, CEO and president of OWIT. “One of OWIT’s most significant value propositions is that our technology roll-out is not an all-or-nothing solution. Customers have different technology needs, budgets, and internal expertise. We take each opportunity individually, working through critical needs aligning the projects accordingly. Bowhead may have other needs that we can fulfill over time. Our catalog of insurance-specific microservices continues to progress, supporting our plan to remain at the forefront of innovation for years to come.”
To learn more about OWIT’s Document Generation Solution – click here.
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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, Insurance Data Transformation, and Policy Administration. 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.
About BOWHEAD SPECIALTY UNDERWRITERS
Bowhead Specialty Underwriters, Inc. is a fully licensed, specialty lines-focused underwriting organization affiliated with American Family Mutual Insurance Company, S.I., a major mutual insurer with over $10 billion in surplus who carries an AM Best Rating of A (XV). With three underwriting divisions, Professional Liability, Casualty, and Healthcare, Bowhead has established itself as a major participant in the U.S. specialty insurance market. Led by highly respected underwriting and claims teams, Bowhead Specialty has demonstrated the ability to meet complex insurance needs with customized and creative solutions delivered with first-class service. For more information, visit www.bowheadspecialty.com.