Oracle Insurance Insbridge Rating and Underwriting

Oracle Insurance Insbridge Rating and Underwriting is a stand-alone Web-based rating, rules, and underwriting system for all lines of business. It allows business users to build, deploy, and manage complex rates and rules with a supremely accurate rating and underwriting engine in an easy-to-use environment.

With Oracle Insurance Insbridge Rating and Underwriting, you can enhance and update your legacy systems—without the cost and risk of full system replacement, which can interrupt business. Because it is browser-based and utilizes ACORD XML and Web services, the Oracle Insurance Insbridge Rating and Underwriting system is flexible and integrates with agent Web portals, policy administration systems, and other third-party applications.

Customer success story: One insurer was able to leverage the modern technology within Oracle Insurance Insbridge to integrate the product with its legacy policy administration system, thereby avoiding the cost of a full core system replacement.

Oracle Insurance Insbridge allows business users to price risk based on multiple factors with to-the-penny accuracy. Insurers gain the ability to introduce many more pricing tiers, enabling them to underwrite business that may once have been considered too risky. With the ability to run "what-if" scenarios against a book of business, Oracle Insurance Insbridge helps insurers manage risk better and ensure that every risk is priced right, every time.

Customer success story: By consolidating onto a single rating engine with Oracle Insurance Insbridge, Penn National Insurance is able to create multiple pricing tiers from a single platform, allowing the company to accept more risk at the right price. Additionally, the consolidation has improved the number of quotes by 90 percent.

Expanding into new channels and better managing current channels is a key factor in building revenue. Oracle Insurance Insbridge quickly speeds time to market by allowing business users to build rates or make rate changes in a matter of days. This flexibility allows a more immediate and cost-effective impact to be achieved through differentiation from other insurers from the agent perspective.

Customer success story: State Auto Insurance is able to offer Web-based quoting to its agents via Oracle Insurance Insbridge. As a result, the company has seen a 70 percent increase in new business.

• Rules-based and designed specifically for business users to build and execute rating logic
• Web-based, built on service-oriented architecture, allowing easy integration to other systems such as policy administration and agent Web portals, as well as third-party callouts such as motor vehicle reports and credit scoring
• Ability to handle any line of business from a single platform, enabling you to manage your entire business from one location
• Custom-built templates help ensure that corporate standards are supported throughout the organization, as well as promoting accuracy and reducing time to market with new rating programs
• Supports versioning of products, which reduces time in creating new products as well as adherence to compliance regulations