The new release helps insurance companies meet growing requirements to accelerate product time-to-market by offering users new rating templates, automated template reconciliation and pre-built industry content via Oracle Insurance Rating Express.
The new version of Oracle Insurance Insbridge continues Oracle’s commitment to delivering complete, modern solutions that enable insurance companies to solve key business challenges and transform their enterprise.
Oracle Insurance applications help insurance companies improve business agility through end-to-end software that manages the entire enterprise — from technical infrastructure to core insurance processing. Oracle announced the availability of Oracle(r) Utilities Customer
New Features Help to Accelerate Time-to-Market
Flexible Insurance Services Office (ISO) loss costs templates, available via the new Oracle Insurance Rating Express feature, help facilitate compliance with corporate and industry standards, save weeks of development time, reduce the likelihood of rating errors and increase speed-to-market for new rate programs.
Templates feature pre-loaded ISO content.
Users can also create custom deviations from the pre-built template content and maintain those customizations as new template versions are updated.
Oracle Insurance Insbridge’s new automated rating template reconciliation helps eliminate time consuming manual processes, potentially saving hundreds of hours and avoiding weeks of delays in implementing new templates. Accuracy of new template versions also is improved.
Oracle Insurance Insbridge requires no programming, so business users can manage the applications themselves — from updating tables to creating surcharges and discounts and more.
“Oracle Insurance Insbridge Rating and Underwriting is a highly scalable, easy-to-use and accurate system that helps speed time-to-market for insurance products,” said Rick Connors, senior vice president and general manager, Oracle Insurance. “The addition of industry-specific templates, automated template reconciliation and pre-built industry content via Oracle Rating Express further demonstrates Oracle’s commitment to developing and extending solutions that help insurance companies ensure compliance and gain operational efficiencies.”