New Business Now Available in Oracle Insurance Policy Administration for Life and Annuity

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Oracle Insurance is excited to announce release 9.7 of Oracle Insurance Policy Administration for Life and Annuity. In addition to showcasing support of client upgrades, release 9.7 streamlines the New Business application process from application receipt through approval with capability to integrate with external providers. Its unique requirement engine can automatically manage requirement ordering and receiving, approve simple cases and summarize data for underwriter and case manager review.  In addition, Oracle Insurance Policy Administration release 9.7 allows companies to:

  • Share a common rules engine between Policy Administration and New Business
  • Leverage ACORD industry standards
  • Provide direct benefits to customers that include decreased Underwriting time and cost, ensuring Underwriting consistency, minimizing the invasiveness of Underwriting, providing customers the ability to enter a new channel / market and enabling Straight-Through-Processing

Oracle Insurance Policy Administration for Life and Annuity is Oracle’s next-generation, flexible, rules-based insurance solution for life and annuities that supports policy processing across multiple lines of business. Oracle Insurance Policy Administration greatly enhances ease of use and speed for business analysts, actuaries and others involved in the product configuration process. Robust navigation also makes it easy for users, including CSRs, to locate policy information and drill down into a granular level of customer detail. This allows insurers to respond more rapidly to customer inquiries, reduce call times and improve customer service.  Oracle Insurance Policy Administration can provide a complete core administration solution for all Life and Annuity products to help fuel your company’s business transformation.

Oracle Insurance delivers a powerful combination of technology and comprehensive, pre-integrated business applications, including key functionality, built specifically for insurance.  Let us show you how Oracle Insurance Policy Administration for Life and Annuity and Oracle’s other insurance applications can:

  • Assist customers in navigating and embracing changes in their industry
  • Provide one-stop shopping with our agile front and back-office systems
  • Lower risk product options by accelerating products in new markets (change and uncertainty often times create opportunities for carriers to enter new markets and create those new products)
  • Assist customers in achieving business results

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