Oracle Rated “Positive” in Gartner MarketScope for North American Life Insurance Policy Administration Vendors in 2011
By firstname.lastname@example.org on Jul 20, 2011
Oracle has received a “Positive” rating in the “MarketScope for North American Life Insurance Policy Administration Vendors,” research published by Gartner, Inc., June 15. Oracle received the “Positive” rating in evaluation of Oracle Insurance Policy Administration for Life and Annuity .
According to the research—authored by Steven Leigh, a Gartner principal research analyst in the Insurance Industry Advisory Services—business drivers, such as system consolidation, legacy replacement and business growth, will continue to increase system purchases during the next 12 months. Gartner expects life insurers to continue to pursue new policy administration systems as the business drivers continue to accelerate. North American life insurers are continuing to consolidate existing policy administration systems, reduce their dependence and risks associated with legacy systems, and find solutions that will increase flexibility within their IT departments.
Oracle was rated with 14 other providers of life insurance policy administration systems. Gartner’s MarketScope provides a comparative evaluation of life insurance and annuity systems based on four major criteria: market understanding, offering/product strategy, product and services, and overall viability.
Helen Pitts is senior product marketing manager for Oracle Insurance's life and annuities solutions.
The MarketScope is copyrighted 2011 by Gartner, Inc. and is cited with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.