By firstname.lastname@example.org on Mar 28, 2011
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.