Oracle Press Release

Atlantic Casualty Insurance and Southern Insurance Underwriters Use Oracle Documaker to Streamline and Facilitate New Business

Solution Supports Straight Through Processing by Automating Information Flow between MGA and Carrier

Redwood Shores, Calif. – March 8, 2011

News Facts

Atlantic Casualty Insurance Company (Atlantic Casualty), a leading surplus lines insurer based in Goldsboro, N.C., is using the Internet-based policy production capabilities of Oracle Documaker (formerly Skywire Software iPPS) to make it faster and easier for its managing general agents (MGAs) such as Southern Insurance Underwriters (SIU) to issue new policies.
Atlantic Casualty and SIU are using a connector for Oracle Documaker that automates the flow of policy data between the MGA and the carrier. The connector was developed by Oracle gold partner Simplified Policy Processing, LLC, in conjunction with Oracle Insurance.
The combined solution enables SIU to automatically populate Web-based forms from Oracle Documaker with data from their agency management systems, without the need to rekey data from one system into another.
This automated information flow helps to accelerate policy issuance; reduces the time, effort and risk of errors and omissions (E&O) exposure associated with duplicate data reentry; frees staff to focus on new business instead of administrative tasks; and significantly reduces the time and resources SIU requires to maintain accurate, up-to-date forms.
Atlantic Casualty is piloting the new environment with SIU and plans to eventually make the connector available to the 100 other MGAs with which it does business.
This pilot builds on Atlantic Casualty’s implementation of Oracle Documaker to which the carrier migrated in 14 months. The insurer was able to move all of its MGAs to the Web-based platform in that same timeframe, and reduce the critical error ratio of its underwriting process to less than three percent of policy documents.
Atlantic Casualty has also integrated Oracle Documaker with its in-house ACES rating system, further supporting straight-through processing initiatives.
Simplified Policy Processing’s PPS Assistant connector includes an automated solution for updating policy libraries. PPS Assistant maps policy data to forms in seconds and those mappings are shared with all subscribers, eliminating the need for individual MGAs to map policy forms.
Atlantic Casualty purchased the Oracle software in FY2009.

Supporting Quotes

“As policy processing and servicing moves to the Web, Oracle Insurance has committed to making the required investments to not only increase efficiencies in the process, but to also reduce costs for the MGA,” said Greg Ricker, chief information officer, Atlantic Casualty Insurance Company. “Carriers can now automatically manage forms and issuance libraries enabling MGAs to focus on what they do best – selling and servicing their customers.”
“In this environment of shrinking insurance premiums, we are all looking for ways to increase efficiency and reduce overhead,” said Wes Dusenberg, president, Southern Insurance Underwriters (SIU) and former president of American Association of Managing General Agents (AAMGA). “Eliminating duplicate entry between systems has been an industry goal for many years. With the renewed commitment from Oracle to the E&S market, we feel confident that Oracle Documaker Desktop and Oracle Documaker will finally enable us to eliminate duplicate entry and increase efficiency. We have been using the Oracle Documaker policy production system from the beginning and feel it is the most appropriate platform as we move forward.”
“Oracle Documaker is based on open standards and integrates easily into today’s service-oriented architecture environments. Oracle Documaker Desktop and Oracle Documaker enable efficient and economical policy issuance, providing insurers with the increased agility and flexibility they need to roll out new products quickly and remain competitive. We continue to invest in our commitment to MGAs, surplus lines and wholesale insurance segments where our policy production solutions have been used for nearly 20 years,” said Srini Venkatasantham, vice president, Product Strategy, Oracle Insurance.
“Having built data connectors for the property casualty industry for more than eight years, this was a natural product for us. We’re excited with the MGA’s response to this product which eliminates so much work for them in using their policy issuance software,” said Dave Huff, President of Simplified Policy Processing.

Supporting Resources

About Oracle

Oracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, visit oracle.com

Trademark

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

# # #

Contact Info

Katie Barron Mary Tobin

Oracle O’Keeffe & Company

+1.703.364.2488 +1.503.658.7396

katie.barron@oracle.com mtobin@okco.com