Telling Insurance Tales at ACORD LOMA
By Lynne Sampson on May 24, 2011
I had the pleasure of being part of the Oracle insurance platinum sponsor keynote presentation at this year's ACORD LOMA Systems Forum in San Diego on Monday. This year's conference has been very upbeat with a lot of great dialogue with customers, partners, analysts and press, but my favorite part of this conference is always to have the opportunity to share the Oracle Insurance story with our customers.
This year, we wanted to do something a little different in presenting the broad and deep solution footprint Oracle brings to the market. Our very creative marketing and industry teams put together a presentation of three vignettes, outlining three business areas where Oracle technology is showcased in the context of business challenges. We used Alamere Insurance, our composite insurance company, to illustrate how Oracle applications can help an insurance company address particular business challenges.
Roger Soppe presented the story of Patti, who needed to get immediate cash from her insurance policy. His narration highlighted how our CRM, Policy Administration and Financial solutions combined to help Patty get cash in 24 hours without losing the value and protection of her life insurance policy.
Lindsay Fassett then took us through the story of Hazel, who purchased a winter home in Florida and needed to be educated on and protected from hurricane risk in Florida. Lindsay showed how CRM, Rating, Billing and Claims solution combined to create a positive experience for Hazel.
Finally, I got to meet the Auditor in the third act, "The Devil & Mr Diaz," where I walked through the improvements Alamere Insurance made in their distribution compliance, operational audit, financial audit and risk management processes - with help from several Oracle solutions, including PeopleSoft FMS, Financial Accounting Hub and Reveleus Risk Management. It was a great way to explain the interaction between operational and financial systems necessary to meet regulatory requirements and effectively manage the business.
Thanks to the Oracle Insurance Industry and Marketing teams for creating an entertaining session (with popcorn!) and special thanks to Lynne Sampson for her theatrical skill in making our story come alive.
Please watch the new videos posted on Alamere which illustrate these stories, at www.alamereinsurance.com.
Chuck Johnston is vice president of industry strategy for Oracle Insurance.