Oracle Policy Automation For Insurance

Insurance organizations operate in a highly competitive market. To drive revenue and profit, insurers need to be more agile in the way they automate business processes to optimize complex underwriting, highlight fraudulent and high-risk claims, perform accurate and consistent claims adjudication, and automate customer service processes.

Oracle Policy Automation enables insurance organizations to rapidly deploy and manage policy rules that span the enterprise-from rating and underwriting to claims and benefit calculations, with comprehensive decision reporting for transparency and auditability.

Oracle Policy Automation lets carriers implement and manage complex and rapidly changing policies and procedures, in natural language, without the need for specialized software programming.

With Oracle Policy Automation, insurers can manage complex business logic for the following processes:

• Underwriting
• New business
• Automated claim adjudication
• Complex calculations; rating, settlements and payouts
• Fraud detection
• Subrogation alerts
• Regulatory compliance

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