Oracle Insurance Data Capture

Oracle Insurance Data Capture is a Web-based application that eliminates redundant entry for producers, customer service representatives, applicants, and underwriters. The solution interjects underwriting rules into the application process, helping you automate the first step in the rate-quote-bind workflow.

Through intelligent, rules-based questioning, Oracle Insurance Data Capture collects applicant data. Data is passed directly to customer relationship management systems, rating engines, or agency management systems to streamline lead management and application capture.

Customer success story: By leveraging Oracle Insurance Data Capture, one insurer is enabling agents to quickly request a quote; submit an application; select a payment plan; bind a policy; create the necessary documentation; and accept initial payment—all from a single portal.

With Oracle Insurance Data Capture, applicant information is entered once, reducing redundancies and inaccuracies. Reflexive questioning increases accuracy by directing the user to answer appropriate questions at appropriate times.

Customer success story: Through Oracle Insurance Data Capture, one customer is validating data through third-party systems as well as passing this data to other systems such as rating and policy administration. Data is no longer rekeyed; therefore accuracy is promoted throughout the process.

Knock-out questions built into Oracle Insurance Data Capture provide early disqualification for non-qualified applicants. Integration with rating, policy production, policy administration, CRM, and third-party systems enables straight-through processing. Reduction in application processing as well as early disqualification improves quote-to-sales ratios.

Customer success story: One insurer has integrated Oracle Insurance Data Capture with Oracle Insurance Insbridge Rating and Underwriting, as well as its legacy policy administration system, to enable automated straight-through processing and improve its quote-to-sale ratio.

• Leverages intelligent, rules-based questioning to facilitate the new business workflow
• Secure, open architecture allows integration to multiple systems such as rating, policy administration, and third-party services, including Oracle Insurance Insbridge Rating and Underwriting
• Data validation rules track applications for accuracy and completeness
• Data integration leverages ACORD-like XML to promote consistency throughout the organization