OWIT’s security and compliance posture assures customers the OWIT team maintains a high level of information security to ensure sensitive information is handled responsibly.
WEST HARTFORD, Conn.–(BUSINESS WIRE)–OWIT Global (OWIT), the leader in cloud-based insurance-specific microservices architected solutions to digitalize the global insurance industry, today announced that it has successfully completed the System and Organization Controls SOC 2® Type II examination for the Bordereaux Management Solution. This certification follows OWIT’s successful completion of its ISO 27001 yearly audit in April 2023.
OWIT Chief Executive Officer and President Wendy Aarons-Corman commented, “When we started our business, we were committed to providing solutions that support the modern need for digitalization of process and data integrity. We also knew that complying with the rigorous requirements of ISO and SOC 2 was critical to demonstrating to our customers that we have strong security controls and processes in place. With the industry becoming more reliant on data consumption and transmission, working with a vendor that is SOC 2 compliant is critical.”
OWIT President of EMEA and AsiaPac and Global Chief Revenue Officer Julian James stated, “The successful completion of our SOC 2 Type II examination demonstrates to OWIT’s clients the assurance that controls and safeguards we employ to protect and secure their data are in line with industry standards and best practices.”
OWIT chose Turnkey Compliance, LLC, a leading security and compliance company, to prepare its organization internally for the rigorous requirements of the SOC 2 Type II external examination. TurnKey initially performed a gap analysis of OWIT’s people, process, and technology against the SOC 2 requirements and worked extensively with OWIT stakeholders by conducting risk assessments, internal audits, and readiness assessments to identify process and control improvements prior to the external examination.
OWIT retained international business advisory firm Marcum LLP for its SOC 2 external examination. OWIT selected Marcum LLP after an intensive search based on their reputation as a leading risk advisory and compliance firm. Marcum’s testing of OWIT’s controls included examination of their policies and procedures regarding network connectivity, firewall configurations, systems development life cycle, computer operations, logical access, data transmission, and other critical operational areas of their business. Upon completion of the audit, OWIT received a Service Auditor’s Report with an unqualified opinion demonstrating that their policies, procedures, and infrastructure meet or exceed the stringent SOC 2 criteria.
About OWIT GLOBAL
The OWIT portfolio is built on a Digitalization Insurance Enterprise Management platform (O/DIEM) to support the industry’s need to re-invent and improve processes and its need for clean data across the value chain. O/DIEM assimilates data ingestion and transformation via OWIT’s Delegated Data/Bordereaux/Binder Management solutions as well as other solutions such as broker portal, point of sale, rating, rules, and document generation. O/DIEM can also connect to a client’s existing environments to enable the transformation (cleanse and normalize) of both data and digitalization process.
OWIT is a global insurance specialist technology provider for carriers, brokers, reinsurers, and MGA/MGUs. Since OWIT’s incorporation in 2018, our solutions have been designed and built from the “ground-up” and the “cloud-down” on a modern architecture designed to optimize no-code and cloud deployment with a mission to simplify innovation via the digitalization of process and data, in harmony with the integration of our customers’ existing environments to maximize their investments.
For more information about OWIT Global, please visit www.OWITGlobal.com.