Latest news with #ProcessManagement
Yahoo
29-04-2025
- Business
- Yahoo
OWIT Global Announces Advanced Rating and Rules Solution, Taking a Step Beyond Other Vendor Offerings
OWIT Global Architects a High-performant, Tool-based Solution Optimized for the Cloud WEST HARTFORD, Conn., April 29, 2025 /PRNewswire/ -- OWIT Global (OWIT), the leader in cloud-based insurance-specific microservices architected solutions to digitalize the global insurance industry, is pleased to announce the availability of a newly constructed Rating and Rules solution that differentiates from the existing vendor options. The new Rating and Rules solution provides the industry with a flexible option that can easily adapt to market trends, regulatory changes, and business requirements and is configured with a business-user-friendly, no-code tool, creating a visual representation of the logic that includes the resultant values such as premiums, rates, and factors. The solution can run standalone or integrated (via APIs) with existing solutions through the configurable tool, reducing the need for IT involvement. OWIT's Rating and Rules solution has been developed on a modern architecture that optimizes a cloud-based framework. This approach ensures a highly scalable solution that can handle varying workloads and data sets seamlessly in a highly efficient manner. Coupled with strong security measures, including encryption and access controls, ensure OWIT's Rating and Rules solution is highly performant. Features such as "what-if" scenarios and workflow illustrations further enhance the user experience. Customers leveraging OWIT's data integrity solution, Insurance Data Management (IDM), can integrate the solution to run rating and rules against incoming data distribution streams. For customers that are leveraging OWIT's Insurance Process Management (IPM) solution, the Rating and Rules solution can be used for any process-driven operation, such as Submission Management and Point of Sale. OWIT's solutions can offer significant cost savings over the traditional model, where Carriers, Reinsurers, Brokers, MGAs, MGUs, TPAs, and other partners attempt to address their respective challenges of data and insurance processing separately. To learn more about OWIT Global, check out our website at 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, and Insurance Data Transformation. 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 Media Contact: Gilda Migliore gilda@ 1-833-GET-OWIT X708 View original content to download multimedia: SOURCE OWIT Global Sign in to access your portfolio
India Today
29-04-2025
- Business
- India Today
Infosys sacks 195 trainees over failed internal tests: Report
Infosys has dismissed another 195 trainees after they failed to clear internal assessment tests, pushing the total number of exits since February to nearly 800, reported move marks the fourth such round of trainee terminations at India's second-largest IT services company, which is grappling with weak demand and flat revenue projections for the current fiscal latest exits were communicated via emails dated April 29, which stated that the trainees had not cleared the 'Generic Foundation Training Program' despite extended preparation time, doubt-clearing sessions, and three attempts at the final assessment. The affected trainees were part of the System Engineer (SE) and Digital Specialist Engineer (DSE) 'While this may be a disappointing outcome, we are here to further support you in your learning journey,' the company said in an in previous rounds, Infosys is offering a one-month ex-gratia payout, a relieving letter, and an optional transition package that includes training for alternative career paths. Those who opt in can receive 12 to 24 weeks of free upskilling, courtesy of partnerships with NIIT and programs are aimed at preparing trainees for roles in either the Business Process Management (BPM) sector or core IT far, around 250 former trainees have enrolled in the offered upskilling programs, and about 150 have signed up for outplacement services facilitated by Infosys. For those unwilling to pursue the BPM track, the company is providing transport from Mysuru to Bengaluru and a standard travel allowance to return at the Mysuru Employee Care Centre is also available for a limited recent development follows three earlier rounds of exits — over 300 in February, around 35 in March, and 240 more in April. All affected trainees were part of a batch that had waited more than two years post-offer to begin their company has reiterated that the assessment process is standard and in line with its longstanding policy: those who do not qualify after multiple attempts cannot continue with the organisation.
Economic Times
27-04-2025
- Business
- Economic Times
Checking without damaging: IIT-Madras works on advanced tech for disruptive material testing
From sensors detecting leaks in pipelines, tanks, bridges and dams without tearing those down to robots for ending manual scavenging -- IIT-Madras has established itself as a global centre of excellence for developing disruptive material testing technology. "Non Destructive Evaluation" (NDE) is the broad name given to the field of testing and analysis used by industry to characterise components or structures for indicators of performance degradation, without causing damage to the original part. The "NDE 5.0 - Industrial Assets and Process Management CoE (CNDE)" at IIT-Madras is developing advanced inspection solutions using X-rays, infrared thermography, lasers, ultrasonics, microwave, terahertz and eddy currents, leveraging industry tools in robotics, drones, AI, Machine Learning, virtual reality, distributed ledgers, hyperspectral imaging and quantum computing. Krishnan Balasubramanian, Chair Professor, IIT-Madras, told PTI that the centre of excellence has a team of internationally acclaimed professors and researchers who have executed projects with a cumulative value over Rs 200 crore, attracted industry funding in excess of Rs 50 crore and CSR funding of Rs 10 crore for socially-relevant projects. "The research undertaken by this team has already led to 15 IIT Madras-incubated startups with a combined valuation in excess of Rs 2,000 crore. The vision is to carry out cutting-edge research on asset integrity platforms for society and industry validated and accepted as benchmarks that can be commercialised worldwide," he said. Balasubramanian also underlined that technologies from this CoE impact the efficiency of industry operations and increase the availability and safety of industrial and infrastructural assets. "The key objectives of this CoE include impacting industries by helping them reduce operating costs by 40 per cent, decrease failure risk, improve availability and uptime by 20 per cent and extend as well as maximise asset life safety," he added. The professor explained that India has a lot of national assets and physical infrastructure that need to be constantly monitored. "The country has the second-longest road network in the world (6 million km) and the Indian Railways is one of the largest rail networks in the world under one management. The ports handle 95 per cent of its international trade in and out of India. "The country is currently the fourth largest consumer of energy globally after the US, China and Russia and, hence, has over 40,000 km of cross-country pipelines and underground oil reserve storage facilities," he said. The CoE's target is to be among the top five research centres globally in this field by 2026, incubate at least 20 startups that could create 2,000 tech jobs and establish at least two industry consortia to ensure the research translates to industry impact in India and abroad. Tata Steel, Boeing, DRDO, ONGC, Gail, Shell and Indian Oil Corporation are among the major industry stakeholders that IIT-Madras has partnered with in multiple critical sectors. Prabhu Rajgopal, the deputy head of the Centre of Excellence (CoE) said the facility is working to develop deep research-based non-destructive technologies for improved performance, enhanced safety and increased life for industrial applications and relevant technologies for societal well-being. "We are leveraging industry tools to create disruptive solutions that enhance the quality of inspection data for end-users with effective decision plan strategies. Today, CNDE startups are globally recognized pioneers in the areas of marine and submerged asset integrity monitoring and pipeline inspections," he told PTI. "The extraordinary dual-use potential of our research is demonstrated by solutions such as the HomoSEP robot for eliminating manual scavenging or a start-up with AI automation for the underserved healthcare sector. These are technologies that we first developed and demonstrated in the industrial context," he added. For the ongoing projects, the centre is collaborating with researchers from top global institutions such as NTU Singapore; University of Nairobi, Dedan Kimathi University and Riara University Kenya; Kenia National Innovation Agency (KeNIA); University of Dar-es-Salam Tanzania; UNDP, Tanzania; Fraunhofer-Gesellschaft, Germany; Alternative Energies and Atomic Energy Commission, France. It has also joined forces with Airbus; University of Warwick, UK; University College London, UK; Ecole de technologie superieure, Canada; and Michigan State University, USA.
