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Life Insurance Solutions
Get to market faster and improve your operations with flexible, rule-based policy administration. Manage new business underwriting, policy issuance, policy processing, billing, collections, and claims—all on a single life insurance system.
A greenfield approach can improve speed to market by up to 75%.
Discover how our customers experience Oracle life insurance innovation
Generali monitors strategic HR KPIs while investing fewer resources in reporting
ClearView delivers on its goals of improving internal operations and being easy to do business with
La Capitale goes paperless across all of its business lines
American Fidelity shares its experience preparing for a new policy administration platform
Nacional de Seguros boosts system performance, ensures data security, and cuts expenses by 50%
Unify underwriting, policy processing, billing, and claims with a configurable life insurance software
Support individual and group administration on the same life insurance system
Eliminate the costs of maintaining multiple policy administration systems. Rapidly configure individual and group insurance products using a common set of business rules and administer them from a single life insurance system.
Explore Policy AdministrationTap into policy data to gain insights about your business
Easily analyze up-to-date policy data through our dashboard or by using your BI tool of choice. Track the health of your books of business and perform what-if scenarios to model the potential impact of strategic changes or unexpected events. Protect the performance and security of your core systems by running analyses from a separate data store, rather than directly from operational systems.
Explore Data Integration and Reporting (PDF)Exchange data with producers and service providers in real time
Reduce average policy application and issuance times by integrating critical data streams among all stakeholders. Automate key aspects of the application and quote-to-issue process.
Explore Insurance Data ExchangeAccelerate the launch and distribution of new products with Oracle life insurance innovation
Easily integrate with federal and private exchanges to bring new products to market faster. Centralize rating data and eliminate anomalies between quoting engines and policy administration with Oracle life insurance software.
Explore Enterprise Rating
“We wanted a system to provide all of the table-stakes functionality that our customers and businesses required, and we wanted it to be flexible enough to grow with our product mix. Oracle has all the functionality we need.”
Diana Bittle
Vice President and Chief Information Officer, American Fidelity Assurance
Sell, service, and manage compliance with confidence
Sell and service policies on your customers’ channels of choice
Automate processes and deliver tailored policyholder responses while balancing self-service and assisted customer service models. Allow customers to buy insurance and receive service when and where they need it.
Explore Customer Experience SolutionsComply with the IFRS 17 and LDTI accounting and reporting standards
Meet global regulatory requirements with an approach that incorporates risk assessments as part of your compliance strategy. Link data, models, systems, and processes between actuarial and accounting functions and a review potential risks without the need to build integrations between various point solutions.
Explore IFRS 17 and LDTI SolutionsManage multiple systems with standalone rules and calculations
Reduce risk and simplify regulatory compliance by centralizing the policy rules that drive calculations used by multiple existing systems for illustrations, new business, and underwriting.
Explore Calculation Engine Solutions (PDF)Life insurance industry trends toward personalized offerings and product unbundling
Subhajit Pradhan, Principal Sales Consultant, Oracle Financial ServicesIn recent years, the insurance industry has been finding new ways to simplify. Complex products are prone to low discoverability by distribution channels. There’s a higher chance of customer fatigue in the fulfillment process. It’s hard to build resiliency for product changes and compliance. Increased reliance on digital distribution is also forcing carriers to simplify their offerings and adjust to risk-based atomic selling compared to ‘catch all-risks’ products.
Read the complete postFind resources and more
Oracle and Equisoft join forces to empower insurance modernization for PAS and cloud infrastructure
Learn how this partnership has helped life insurance carriers transform their legacy systems for more efficiency, visibility, scalability, and better customer data privacy.
Additional insights
Oracle Named a Leader in the 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America
Oracle was cited for a wide internal ecosystem of complementary products and preintegrated services such as risk, finance, and customer experience.
Digital transformation: Strategies to succeed in insurance for a greenfield approach
Create sustained improvements through true digital transformation for insurance.