Thursday Jul 25, 2013

Upcoming Webcast: Transform Business Operations: BPS = Efficiency and Innovation

Transform Business Operations – buzz words in the insurance industry for sure.  But how can a carrier really accomplish this transformation?  How should you rethink the business you’re in and develop new ways to sustain a profitable, competitive advantage? How and where does BPS fit in this equation?

Cognizant and Oracle have a long and tested partnership with Cognizant utilizing Oracle Insurance Policy Administration for Life and Annuities processing that supports several of their clients and a broad spectrum of services for product rollout and versioning, policy administration integration, upgrade, and testing.  Join us on August 15, 2013, as Oracle and Cognizant industry experts team up for a joint webcast to share how these two companies have improved performance and productivity through end-to-end business processing. Topics to be discussed include:  

  • How an integrated BPM solution helps achieve business process automation
  • Lowering operational and conversion costs while enabling growth, product innovation and speed to market
  • Improving the customer experience and processing efficiencies through best in class technology platforms and service delivery
  • Consolidating multiple LOBs, increase workflow efficiency and boost workflow productivity and operational adeptness
  • Service oriented architecture providing enhanced capabilities for real-time business processing

Thursday, August 15, 2013
2:00 pm ET / 11:00 am PT
Register Today

Listen to the Related Podcast: Cognizant also recently discussed how their Business Process Services can help transform a carrier’s business operations through process modernization, automation, and providing the platform for carriers to become agile.  To deliver these Business Process Services, Cognizant often uses the core of the platform powered by best in class policy administration system, thereby leveraging their partnership with Oracle.  Download and listen to the podcast “Delivering Business Process Services.”

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Monday Jul 22, 2013

Health Insurance Exchanges Go Live for Enrollments October 1, 2013. Are You Ready?

The clock is ticking towards October 1, 2013 when public insurance exchanges are set to open their doors and begin offering health plan benefits to an estimated 30 million previously uninsured Americans – as mandated by the Patient Privacy and Affordable Care Act (PPACA). Americans without insurance coverage will be able to choose the insurance coverage that works best for them in a new, open, competitive insurance market. The Insurance Exchange will pool buying power and give Americans affordable choices of private insurance plans that will compete for their business based on cost and quality.

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Monday Jul 08, 2013

Compliance Challenges Associated with Health Care Reform

We are all aware of the complex challenges associated with the Patient Protection and Affordable Care Act.There are also many unforeseen compliance challenges that insurance executives will likely confront with this changing regulatory environment. Companies will be taxed to face changes from multiple processes, risk management, new distribution channels, and a fragmented IT approach. To address all of the challenges, companies will need to change market dynamics and business models. Changing regulations, demographics and aging baby boomers will force new markets and product mix. Companies will need to adopt new technologies to address many of the challenges, while addressing their current processes to minimize the impact to IT resources.

How can companies use new technology to help drive growth and gain competitive advantage? A rip and replace method is an expensive proposition, so new technologies must be integrated to power modern product development demands. Download our new white paper, Compliance Challenges Associated with Health Care Reform: Managing Data, Documents, and Product Development for Market Advantage, and learn about the challenges compliance executives are facing with the impact of new legislation, and look deeper into using technology to address payers’ needs to:

  • Track a new product through all its various stages.
  • Ensure input received from all appropriate parties.
  • Measure the time required to bring a new product to market.

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Wednesday Jul 03, 2013

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

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...

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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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