Monday Mar 09, 2015

Join Us in Washington, DC this Month for Oracle Industry Connect

The impact of digital disruption is being felt across the insurance industry. Success is predicated on a strong "digital-first" strategy that uses social, mobile, and data to be relevant to consumers. For many insurers the answer lies in a progressive transformation for both the customer engagement process and the underlying systems with customer-centric processes and industrial-strength core components.

Join us for Oracle Industry Connect, an exclusive event taking place March 25–26, 2015 in Washington DC. The Financial Services and Insurance Program delivers unparalleled insight, critical analysis, and clarity to help reshape the financial services and insurance business and technology landscape. This program includes discussions on the impact of transformation efforts across the enterprise, addressing customer experience, product processing, compliance, and risk and finance.

You’ll have a unique opportunity to join your industry peers for in-depth discussions on trends, challenges and opportunities facing insurers today. Here are some reasons you won’t want to miss this event:

  • A Different Kind of Event: Highlighting current industry challenges and opportunities as well as the role of technology in fostering business transformation. The content is discussed and presented through real life customer successes. Our goal is to create a close community of industry visionaries.
  • A Dynamic List of Guest Speakers: Dr. Condoleezza Rice and author Warren Berger headline a group of expert speakers who share their insights on how to innovate and lead within and across industries.
  • Keynote by Industry Leader: Alice Rivlin, Former Vice Chair, Federal Reserve Board and Senior Fellow, The Brookings Institution.
  • Dedicated Sessions for Banks, Insurers and Healthcare Payers: Industry leaders will provide insight on the impact of transformation and modernization efforts and how to become more operationally efficient and gain an edge in an increasingly competitive landscape.
  • Financial Services and Insurance Demonstrations: Solution experts will demonstrate Oracle’s latest applications for core banking and insurance operations as well as compliance, risk, and customer analytics.
  • Oracle Financial Services and Insurance Industry Reception: Join us at the House of Sweden and enjoy panoramic views of the Potomac River. This will be a great opportunity to network with your industry peers and Oracle executives.

Confirm your participation by completing your registration today.

We look forward to seeing you in Washington, DC.

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

Wednesday Apr 13, 2011

The 2011 Life Insurance Conference Wrap-up

Having spent the past 20+ years in the life insurance industry, it's been a pleasure seeing this conference grow from its modest start 9 years ago.   Today, the Life Insurance Conference is a well established and premier industry event that draws over 500 interested attendees from various carriers, media and technology partners.       

Senan O'Loughlin,  SVP Clients Markets, Swiss Re noted in his General Session titled  "The Economic Environment of the Life Insurance Industry - Is It Time to Be All In?"  that "US expansion growth is moderate" and "Capital lost during the crisis has been restored but not at the same quality".  Senan's message reinforced a similar optimistic theme heard among speakers and attendees over the previous two days of the conference. He also provided a positive overview of New Business trends that included: overall sales have stabilized, annuity sales are growing - especially VA, a slight decline in term insurance due to fewer product offerings and some price increases and that Whole Life Insurance has seen steady growth over the past 5 years.        

Another conference theme continued from earlier sessions was Social Media.  Mike Fitzgerald, a Senior Analyst with Celent  shared the results of a pre-conference attendee survey that was conducted.  While there are risks and rewards of social media marketing, its clear carriers have a vested desire to connect with online consumers.   Mike noted " that from  2008 - 2010, the fastest growing demographic now using social networking sites are the Older Boomers".   

Gene Smaciarz,  Director- Creative Services at Thrivent Financial for Lutherans, offered a carrier's perspective on how his faith-based member organization was using online "Member Communities" to connect with its nearly 3 million members .  Gene spoke of the Five Basic Objectives of their Social Media needs that included:

  • Listening
  • Talking
  • Energizing
  • Supporting
  • Embracing

Brand protection and loyalty are key factors for insurance companies to consider and Social Media as a marketing tool will play an increasing role.

It's interesting to note that next month (May 22-24) at the 2011 ACORD LOMA Insurance Systems Forum, Biz Stone, American entrepreneur and author best known for co-founding Twitter will be the Monday morning key note speaker.  Again, emphasizing  the role Social Media plays in our industry.

Next year,  the Life Insurance Conference will be back in Orlando on April 23-25, 2012.

Roger A.Soppe, CLU, LUTCF, is the Senior Director of Insurance Strategy, Oracle Insurance.

 

 

Monday Mar 28, 2011

Game Changer for Insurers: An Adaptive Approach to Core Systems Migration

Improved speed to market, more competitive product offerings, better customer service - these are a few of the advantages that come with replacing an inflexible, aging policy administration system. So why do insurance companies still hesitate to undertake a replacement project and modernize?

One reason is the risk involved in migrating from an old policy administration system to a new one. New ways of thinking about core system migrations, including data conversions, can help insurers reduce this risk and realize the benefits of a modern core system, like Oracle Insurance Policy Administration for Life and Annuity. The concept of "adaptive migration" combines proven data conversion methodologies with an adaptive, highly configurable, rules-driven core system, turning programming code into business rules and inflexible processes into flexible ones.

You can read more about this new approach, and how it can reduce the risk and bring the benefits of migrating to a new policy administration system. Download the newest Oracle Insurance strategy brief "Changing the Rules of the Game: An Adaptive Approach to Core System Migrations" to learn more.

You can learn even more by stopping by Oracle partner's Universal Conversion Technologies' (UCTs') booth at The Life Insurance Conference, April 11-13, at Caesars Palace in Las Vegas. Representatives from both Oracle Insurance and UCT will be on hand to answer your questions and share best practices about adaptive core system migrations.

Not coming to The Life Conference next month?  Stop by and see us during the Life & Annuity sessions at the Core Systems Summit 2011, April 15 in Chicago, or join Oracle Insurance at ACORD LOMA 2011, May 22-24 in San Diego.   Find out more about Oracle Insurance Policy Administration for Life and Annuity and our other solutions for the industry by visiting the Oracle Insurance booth #225 and ACORD LOMA sessions featuring Oracle Insurance executives and our insurance customers.  We'll highlight more about what we have planned at ACORD LOMA this year in an upcoming Oracle Insurance blog. 

Helen Pitts is senior product marketing manager for Oracle Insurance's life and annuities solutions.

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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 more information, visit oracle.com/insurance.

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