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May 2013

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Learn How a Single Rules Engine Can Solve Tough Insurance Industry Challenges

Business and IT agility are essential ingredients for helping life insurance and annuity carriers compete and differentiate themselves in today’s dynamic marketplace. These companies must continuously adapt their product portfolios and business processes to accommodate new regulations, competitors, and consumer needs. As a result, many carriers are looking for greater flexibility in their IT infrastructures and the ability to reuse business rules across internal processes, such as those for illustrations, new business, commissions, and policy administration.

To help carriers address these challenges and position their companies for future growth, Oracle produced a new Webcast, “A Single Source of Truth: Using a Single Rules Engine to Solve Life Insurance Challenges That Span Multiple Business Areas.”

Available on demand, the Webcast explains how life and annuity insurers can use modern rules technology and a common rules architecture to transform how they do business. The Webcast features executives from Oracle; EquiSoft, an IT consulting firm; and La Capitale Financial Group, a Canadian mutual insurance company and Oracle customer. They discuss how the three companies are working together to implement La Capitale’s modernization project.

The speakers also outline best practices for successful transformations, including

  • Sharing a single set of rules and product calculations across multiple business areas and systems
  • Creating business processes that cross traditional functional areas
  • Reducing the complexity of the IT ecosystem to reduce risk and optimize performance through a common rules architecture
  • Implementing highly configurable, rules-driven policy administration systems to align policy lifecycle processes with the business transformation strategy

View the full, on-demand Webcast and read the strategy brief, “Core Systems Modernization: Harnessing the Power of Rules-Based Policy Administration.”

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