Market Overview

OneWorld Instech Introduces Cloud-based Bordereaux Services for Accident and Health (A&H) Insurance

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New OneWorld offering simplifies Bordereaux report creation for MGAs,
MGUs, TPAs, and Bordereaux processing for carriers and reinsurers

OneWorld
Instech
, a global insurance technology provider offering solutions
built on a modern architecture that leverages microservices, today
announced the introduction and immediate availability of its A&H
Bordereaux Services. Available for MGAs, MGUs, TPAs, carriers, and
reinsurers, OneWorld's Bordereaux Services simplifies the creation,
delivery, import, and processing of bordereaux reports.

Traditionally a highly-manual and often error-prone process, the
creation, transfer and ingestion of bordereaux reports has continued to
be a challenge for all stakeholders in the A&H insurance process. With
OneWorld Instech's Cloud-based Bordereaux Services the process can now
be completed much easier and quicker, and with a higher degree of data
accuracy and quality.

For MGAs, MGUs, and TPAs, OneWorld's A&H Bordereaux Services allows
business users to easily extract needed data from disparate systems,
aggregate the data and configure a comprehensive transaction report
based on their selected criteria, such as a specific time period, by
product, etc. Once the report is created and formatted, it can then be
transmitted to a carrier or reinsurer for processing.

For A&H carriers and reinsurers, OneWorld's Bordereaux Services provides
the automated import, mapping and validation of data received from
multiple MGAs, MGUs, or TPAs. Carriers and reinsurers can deploy the
Bordereaux Services solution as a stand-alone system or as an integrated
component of an insurer's or reinsurer's policy administration
environment.

Feature highlights of OneWorld's A&H Bordereaux Services solution
include, but are not limited to:

  • Increased automation, significantly reduced time, and enhanced data
    quality for bordereaux reporting and processing
  • Creation of either "Book of Business" or "Transactional" based data
    files
  • Bordereaux report creation, including data aggregation from multiple
    disparate data sources and/or multiple formats
  • Business user creation and maintenance of data lookup tables
  • A robust and flexible set of business rules configurable by business
    users versus IT staff
  • Supports default of custom output data set for differing types of
    bordereaux files
  • Outputs data to a SQL database, Excel file, or XML
  • Premium, cash and claims bordereaux processing

"We saw bordereaux reporting as an underserved need and a great
opportunity to apply technology to bring a significant value to the A&H
insurance community – from MGAs, MGUs, and TPAs who produce the reports
to the insurers and reinsurers who need to ingest and process the data,"
commented Wendy Aarons-Corman, President, Americas with OneWorld
Instech. "Our A&H Bordereaux Services solution is the first in a series
of targeted new capabilities that we will be introducing. Our goal as a
company is to move quickly to develop and introduce new capabilities to
the market that address specific needs and that easily integrate into a
client's existing environment."

To learn more about OneWorld Instech's A&H Bordereaux Services CLICK
HERE
.

About OneWorld Instech

OneWorld Instech is a global insurance technology provider offering
solutions built on a modern architecture designed to simplify innovation
and future-proof insurance processing. The OneWorld portfolio is
comprised of microservices offering a range of capability options
including bordereaux management, Specialty Lines rating services such as
Cyber and A&H and complete policy processing. The company's offerings
can be deployed standalone or integrated with a carrier's or MGA's
existing environment. OneWorld's architecture is also designed to
support emerging technologies and functionality such as block chain and
smart contracts. For additional information call 833.41WORLD (96753) or
visit www.oneworldinstech.com.

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