Friday Nov 14, 2014

Insurers Embrace Customer-centricity and Other Thoughts from the Recent Insurance Distribution Strategies Forum in Rome

I attended the 6th annual Insurance Distribution Strategies Forum for 2014 held in Rome last month. This event was organized by Fleming Europe and chaired by David Webster from Oracle. In the five years Oracle has been lead sponsor of the conference, it has grown from a European regional event to a much more global event that includes delegates from Africa, Indonesia, Russia and Eastern Europe and the UK. This year's forum had over 100 delegates in attendance and was a terrific success with some great speakers.

This was my third year as a speaker at the forum, and it was much different than the previous two years. In years past much of the conversation and presentations focused around product, pricing and distribution channels. This year’s forum was overwhelming dominated with presentations and discussions around customer centricity. During a breakout session we were asked "what are the top three take a ways from this forum?"

Read the full article for more... 

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Wednesday Oct 15, 2014

Leveraging New Technologies to Improve Customer Engagement

Social media and new technologies dominate the marketing landscape, which means consumers’ attention spans are shorter than ever.  New apps, call-to-actions, and other customer communications tools are being thrown in consumers’ faces each day.  The task of attracting an audience’s interest and maintaining it for the long term is a daunting one.  If your company can’t attract an audience’s attention from their very first visit, you risk the chance of them never returning. Customer Communications Management systems allow institutions to effectively monitor customer engagement and transform that data into results.

Guest blogger A.D. Kent, Managing Partner for DocVentive, discusses the topic in today’s post:

In a world where everything is interconnected with information at your fingertips, technology is fundamentally changing how consumers engage content. The rapid adoption of smart phones and tablets affords convenience and control over content, while easy access to social media sites creates an unprecedented sense of community and engagement at the touch of a button. In short, consumers are demanding information that is contextually relevant with their interests and provides an experience that they can interact with.

So, what does this mean if you're an Insurer or Financial Institution looking for a competitive advantage? Well, you should view each piece of correspondence with your customers as a chance to engage and monetize through personalized content. This means looking for opportunities to gather information with each encounter, and using that information to refine targeted messaging and content on the next communication event. This also necessitates reliance upon a robust Customer Communication Management (CCM) platform capable of delivering on these goals – an exercise that isn't exactly native to the present-day CCM vendor solutions. Nonetheless, through this continual refinement of correspondence, you can empower and satisfy the consumer in ways that fit the social patterns and behaviors that they desire most.

Click "Read More" to view the rest of the article. 

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Tuesday Jul 08, 2014

New in DocumakerTech: Integrating Documaker with Web Services

The first post in another multi-post series is live on the Documaker Tech blog: an in-depth look at configuring Documaker and Docupresentment for publishing with web services! The first post in the series discusses web services in general, some technologies used in web services, and presents a step-by-step guide to configuring the solution for publishing with EWPS web services. Future posts in the series will focus on DWS web services, and additional solutions for starting transactions without extract data, and using the composition services. Check out the first post here.

Monday Jun 16, 2014

Healthcare Payers Need Agility and Flexibility to Implement Medicare Changes for 2015

Since the Affordable Care Act was passed in 2010, Medicare Advantage premiums have fallen by 10 percent and enrollment has increased by nearly 33 percent.  Today, enrollment in Medicare Advantage is approximately 15 million beneficiaries. Over half of these beneficiaries are enrolled in a four star or greater plan, which improves their access to care as well as the quality of care they receive.

Kathy McCarthy, Director of Sales Consulting for Oracle Health Insurance, discusses the topic in today’s post:

Many Changes Are in the Cards for Medicare Advantage Plans in 2015

The change in Stars ratings is significant. Plans receiving fewer than 4 stars will no longer be eligible for bonus payments.  Bonus payments for 4 and 5 star plans will be reduced. This can result in the loss of revenue for affected plans. Insurers need to look for new ways to reduce costs to account for the revenue shortfall. This can include anything from lowering administrative costs to improving quality of care.
Some other changes include:

  • Changes in payment models, capitation rates and reconciliation calculations
  • Changes to  out-of-pocket drug spending amounts
  • Improved notification for beneficiaries regarding changes in Medicare Advantage plan networks
  • Greater protection for beneficiaries:
    • Improved access to preferred cost-sharing
    • Improved coordination of care

Payers must act quickly and decisively to implement changes required to improve performance, whether boosting quality, outcomes, operational efficiency, or profitability. As such, healthcare payers should seek greater agility – including in their IT systems, which support modern enterprises. Specifically, they require the ability to quickly introduce new plans as well as support efforts to reduce operating costs and take advantage of emerging opportunities.
As a means to control TCO, healthcare payers are also looking to leverage engineered systems – solutions that combine hardware and software optimized to work together. In addition, many seek more open as well as scalable solutions that can cost effectively expand to meet changing requirements.

Don’t forget to keep up with us year-round:

Monday May 19, 2014

New in DocumakerTech: Creating a Sandbox for ODEE 12.3.0

Are you ready for the next big thing in document automation? It's here - Oracle Documaker Enterprise Edition 12.3.0, the enterprise-class document automation platform that sets the standard. The new architecture of the Enterprise Edition is quite different from the Standard Edition, and to accommodate this scalable architecture there are additional requirements to implement ODEE. 

To assist in getting you up and running with ODEE, the gurus over at the DocumakerTech blog have put up the first post in a multi-part series which presents a step-by-step guide to creating a sandbox platform for Oracle Documaker Enterprise Edition. This guide will show how to begin with a green field Windows system (that is, a basic Windows server box that has no other software installed) and deploy all the necessary components to build your ODEE Sandbox, including Oracle Database 11g, Oracle WebLogic 10.3.6, Oracle SOA Suite 11.1.1.7.0, and Oracle Documaker 12.3.0.

The first post in the series starts with installing and configuring a database with Oracle Database 11g; subsequent posts will detail each of the major components listed above. Read full details on the Oracle Documaker Tech Blog.
About

Oracle's flexible solutions can help insurers navigate the change necessary to meet today’s challenges and have the business agility to be prepared for the future.

For mor information, visit oracle.com/insurance.

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