Canopius is now implementing OWIT’s, a global insurance specialist technology provider, Bordereaux Management Solution to automate and streamline the consumption of disparate data and the onboarding process.
The specialty re/insurer needed a solution to meet the challenges of processing bordereaux data: to consume, cleanse, transform, and load incoming MGA and TPA bordereaux data to arrange downstream systems, including Origami Risk for policy administration and billing.
Through this partnership, OWIT worked with Canopius to springboard the bulk of the onboarding.
Furthermore, Canopius plans to leverage OWIT’s no-code environment to manage its onboarding and processing without vendor dependency. Additionally, the re/insurer also is taking advantage of BDX-Central’s extensive reporting capabilities.
Adam Finkle, Chief Operating Officer of Canopius, commented: “The ability to quickly and cost-effectively on-board new programs and manage the quality of inbound data from our distribution and claim handling partners is a core element of our operating model.
“OWIT Global’s BDX-Central solution will enable us to configure partner information, validation rules, look up tables and bordereau templates and ensure data quality provided by our partners meets our standards. The team at OWIT Global has been engaged, collaborative and hyper-focused on our needs throughout the implementation and we look forward to continuing our collaboration now that we’re in production.”
Wendy Aarons-Corman, OWIT CEO and president of the Americas, said: “The Canopius project was a sizable effort, onboarding fifty MGAs and ten TPAs onto BDX-Central. There are also ten output files of risk, premium, and claims information that are being sent to two systems; Origami for policy and billing workflow automation and an internal database housing risk, claims, and cash.
“The project was a great test of our solution and the processes we follow for the implementation. We appreciate the Canopius team’s commitment and input that extended the capabilities of BDX-Central.”
