In recent years, the Insurance industry has been finding new ways to simplify. Complex products are prone to low discoverability by distribution channels, higher customer fatigue chances in the fulfillment process, and resiliency to tailoring and compliance. Increased reliance on digital distribution is also forcing carriers to simplify their offerings and adjust to risk-based atomic selling compared to ‘catch all-risks’ products. Oracle’s Subhajit shares more.
Aging policy administration systems managing legacy blocks of closed business create an exponentially increasing drag on insurers' business processes—and hurting their ability to compete in an expanding global industry being revolutionized by digital transformation. Roger Soppe from Equisoft, Oracle's partner, shares his thoughts.
Many insurers today operate on rigid legacy systems that inhibit innovation efforts and lead to the continuation of slow manual workflows. In order to facilitate insurance modernization, Oracle and Equisoft have joined forces to bring their best of breed technology for insurers. Oracle’s Matthew shares more.
Oracle placed in the “Leaders' Quadrant” for the sixth time based on Ability to Execute and Completeness of Vision in Gartner’s 2019 Magic Quadrant for Life Insurance Policy Administration, North America. Find out why.
Combining the power of Oracle Insurance Policy Administration (OIPA) with the flexibility of Oracle Cloud Platform enables insurers to improve efficiency and reduce overall IT and infrastructure costs, enabling innovation at scale.
We invite you to read this excerpt from a Novarica Market Navigator report that provides an overview of the available new business and underwriting systems and suites for US life/health/annuity insurers. This excerpt includes the profile of Oracle.
In 2019, automation, agile cloud solutions and data management will enable insurers to streamline administration, tailor their offerings to customers and achieve regulatory compliance. Read the full article on InsuranceNewsNet.com
On our webcast a year ago, American Fidelity shared their transformation story and discussed how they made the strategic decision to select a new core system. With the impending launch of Individual, we’ve invited them back to discuss their progress and preparations for adding Group on the same policy administration platform.