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Insurance Applications

WHY ORACLE

ORACLE LEADERSHIP

The insurance industry is currently undergoing dynamic market shifts. Some insurers are responding by cutting costs in order to survive; some are transforming their risk portfolio; while others see an opportunity to grow through product innovation and expanded distribution. How is your company responding?

Survive. Transform. Grow.

Oracle's vision for the insurance industry is simple: offer a complete, modern, and innovative set of components and solutions—from technology and business infrastructure to core insurance processing—that enables all our customers, no matter what stage their business is at, to survive, transform, and grow.

Whether you're a top 20 insurer or a midsize carrier, Oracle Insurance has solutions that can help you manage your business better.

  • 20 of the top 20 insurance companies run Oracle applications
  • The only provider of a complete, end-to-end insurance enterprise solution—from middleware and platform applications to best-in-class components—with powerful functionality for distribution management, core insurance processing, business intelligence, corporate support, and core technology
  • Modern, rules-based technology enables rapid product deployment and extreme market agility
  • With Oracle Insurance applications, customers have:
    • Achieved up to 80 percent straight-through processing
    • Reduced policy assembly time by as much as 80 percent
    • Improved service levels by as much as 40 percent
    • Realized ROI in as few as 12 months
  • Read customer success stories here.

KEY PRODUCTS FOR INSURANCE

ORACLE INDUSTRY SOLUTIONS FOR INSURANCE

Oracle industry solutions leverage our best-in-class portfolio of products to address complex business processes relevant to your industry. These solutions enable you to speed time to market, reduce costs, and gain a competitive edge.

ONLY ORACLE OFFERS SIGNIFICANT BENEFITS

Business Drivers Oracle Enables You to With These Products
Modernize and Integrate for Lower Cost and Improved Efficiency
  • Consolidate multiple systems (policy administration, rating, claims, and more) onto a single Web-enabled platform
  • Reduce cost and risk of integration projects with modern, Web-based systems
Expand Distribution Channels and Increase Customer Retention
  • Support insurance sales and new business
  • Enable multi-channel distribution and service
  • Support balanced marketing campaigns across channels while streamlining lead management
  • Increase insight into customers, market, and distribution
  • Increase service and ease-of-use to agents and channels
Achieve Business Agility to Respond to Dynamic Market Shifts
  • Rapidly bring new products to market
  • Administer multiple lines of business from a single platform
  • Easily configure new business processes using rules-based systems
Provide Efficient and Effective Operational Support
  • Improve financial management and oversight
  • Manage statutory and GAAP environments to support global insurance reporting requirements
  • Manage multiple financial environments for multi-line companies globally
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