A complete, modern, bancassurance platform enables banks and insurance companies to offer insurance products and benefits to the bank's customers. Through a fully automated digital platform, insurers can now drive growth, speed, and compliance throughout the process.
Collaborating between banks and insurers is not easy, particularly for multinational bancassurers. When the bank’s sales infrastructure, methods, or IT systems clash with the insurer’s, the partnership becomes risky and threaten the bank’s relationships with its customers.
The Oracle Bancassurance solution provides real-time connectivity between banks and insurers to accelerate every step of the process, from point of sale to policy servicing to commission reconciliation. The solution provides bank with a single, secure touchpoint to exchange data with insurance carriers in real time and to manage customers’ policies.
Constant exposure to digital technology increases consumer expectations, putting pressure on insurers to continually evolve the customer experience to retain customers and attract new ones. Thus, a well-executed digital customer experience is a business strategy imperative for insurers.
Successful digital transformation centers on building customer intimacy to drive engagement. Oracle provides several solutions such as Documaker, Oracle Service Cloud, Oracle Process Cloud Service and Oracle Engagement Cloud to help insurers transform customer engagement across digital touchpoints. These solutions enable insurers to provide the information and contextual responses and allows insurers to deliver a consistent message and experience on all channels.
The Oracle Bancassurance solution delivers speed, reliability, and consistency, enabling your organization to improve its bancassurance business.