Technology - Journey to efficiency
Unpacking the fundamentals of insurance in relation to technology - Episode 1 in a series of five conversations between Tony and Tavio Roxo, CEO of OWLS™ Software . TechFest 2023 kicked off with an overview of these fundamentals as the basis for an insurance digitisation journey. We now explore each in more detail.
OWLS™ Insurance Software is a cloud-based short-term and long-term insurance management and administrative technology. The OWLS Software system administers the entire policy lifecycle of an insurer, UMA or Broker. The functionality specification of the system caters for and administers all processes from quoting through to policy inception (both direct and group business) and assists using automation, machine learning and AI to administer the policy through its life to claim process management and / or ultimately policy termination.
All functionality including but not limited to: premium raising, premium collection, automatic broker remittance calculation, regulatory and operational reporting, group schemes administration, broker portals for insurers, insurers portals for brokers, full audit trail, documentation repository, policy schedule generation and tracking, fully customisable product set-up rules, etc etc. Because every function within the insurance lifecycle is performed on a single platform, one gets access to real time data and the ability to track every users functions.
OWLS 360 degree is a concept that originates from the idea that the OWLS Software system will be the central nucleus for information, functionality and data, but that all the stakeholders in an insurance business must have the ability to interrogate both functionality and data. As such OWLS caters for full access rights for a re-insurer, insurer, UMA, broker, group scheme / affinity and policy holder. With this the customers journey is consistent and tracked for service levels.
Read a compilation of OWLS™ Insurance Software ithought leadership for 2023 below:
Read some of Tavio's articles featured in COVER magazine here:
A regular thought leadership contributor, Tavio shares insights in COVER Magazine & has interviews with Tony in the Tony & Tavio talking Tech podcast series.
Episode 1: Hard tech - Soft touch
Episode 2: Optimizing the real value of data
Check out the latest Podcast here