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Solutions for Life and Annuity Insurance
Gain Deep Customer Insights And Empower Your Modernization Journey.
Why Oracle?
Life Insurance companies today may be asking themselves how do we meet the market demand and be customer focused? Discover how the Oracle Life Insurance Solution can help you drive innovation with a flexible, rule-based policy administration solution including new business underwriting, policy issuance, policy processing, billing, collections, and claims all on a single platform. We offer life insurance software for Individual and Group Life and Annuity Insurance that reduces operational costs, has deep customer insights, and quickly adapts to changing business needs.
Digitizing Insurance from the Inside Out
Engage all Generations with a customer experience that enables freedom, choice, and flexibility. Oracle’s Life Insurance System enables rapid configuration, straight-through processing, speed to market, and deep customer insights. Explore how Life Insurance Digital Transformation will enable your organization to increase efficiency, reduce operating costs, and improve the customer experience.
Gartner’s 2020 Magic Quadrant for Life Insurance Policy Administration
Find out why Oracle was named a Leader for the seventh time in the 2020 Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America.
Oracle Solutions for Life and Annuity Insurance
Policy Administration: Individual/Retail
Rethink your business by consolidating policy processes for optimal, long-term efficiency. Scale up or down with rule-based, policy administration solutions to create a digital ecosystem for an improved customer experience. (PDF)
Policy Administration: Group
Rapidly configure, manage, and bring group insurance products to market through a highly flexible, rules-driven policy administration solution.
Calculation Engine
Oracle Insurance Calculation Engine is a rules-based product configuration tool that enables carriers to achieve agile business practices by externalizes rules and calculations across multiple policy administration systems. (PDF)
New Business Underwriting
Life Insurance Innovation on a single platform for individual & group that creates hybrid products and collaborates across businesses. Increase business agility with a componentized solution that shares business rules to increase speed to market and drives process automation reducing operational costs. (PDF)
Digital Wellness Platform
Oracle Life Insurance Solution and a partner platform combine to offer life insurance providers an end-to-end digital engagement platform that supports product innovation, accelerates time to market, and engages policy holders to improve their wellness.
Analytics and Reporting
The analytics, reporting, and integration repository helps you respond quickly to market conditions and access policy data without extracting production data being used downstream. (PDF)
Oracle’s Policy Administration Solutions for Life and Annuity
Simplify Life Insurance Digital Transformation with a modern, rules-based policy administration system that supports new business underwriting, policy issuance, policy processing, billing, collections, and claims covering Individual and Group Insurance, all on a single platform.
- Flexibility for Full Configurability and Accelerating Deployment
- Automation for new business Underwriting, Processes and Traceability
- Deep Customer Insights to improve the customer experience
- Enable digital transformation with open API’s
Customer Success Stories
La Capitale Achieved Flexibility by Successfully Converting to a Modern Platform
La Capitale Financial Group
La Capitale is looking forward to working closely with the Oracle team to replace our legacy policy processing systems with more innovative solutions built upon the OIPA technology framework.Francine Hampleman, Principal Director, La Capitale
Fidelity Investment is Using Flexible Business Rules to Develop Complex Annuity Products
Fidelity Investments Life Insurance Company
OIPA has allowed us to shorten our delivery time for new products and product changes. We have also had a greater ability to integrate with other systems and to deliver process efficiencies.James Klauer, Vice President, Client Technology, Fidelity Investments Life Insurance Company
Securian Financial Group Creates New Products Faster and More Efficiently
Securian Financial Group
Our objectives were to be faster to market and be ready to respond to market opportunities. The combination of OIPA and ACORD standards was instrumental in helping us achieve those objectives.Mary Anne Smith, Vice President, Securian Financial
American Fidelity Assurance Is Consolidating All Policy Administration into a Single System
American Fidelity Assurance
Ultimately, Oracle Insurance Policy Administration proved to be the solution that met the insurer’s 6,000+ requirements. Oracle was the clear winner at the end of the day.Diana Bittle, Vice President, Software Solutions, American Fidelity Assurance
Accelerate Your Modernization Journey
Partner Equisoft
How to Kick-Start PAS Modernization: Part 1
Discover a successful way to start your modernization journey.
Partner Equisoft
How to Kick-Start PAS Modernization: Part 2
Learn to develop an effective and efficient RFI/RFP process.
Partner Equisoft
How to Kick-Start PAS Modernization: Part 3
Learn to pivot from information gathering to confirming the vendor you will eventually work with can actually deliver on their promises.
Life Insurance Blogs
Operationalize IFRS 17 with modern, end-to-end accounting and reporting
IFRS 17 mandates a radical departure from current accounting standards. It gives investors and stakeholders a realistic view of a carrier’s risk exposure, profitability, and financial status. As you prepare strategies to achieve compliance quickly and efficiently, choose an approach that accurately incorporates risk into the decision-making process. Oracle empowers you with extensive data-centric business insights to drive profitability.
Modernize Life and Annuity Insurance to Improve Speed to Market and Customer Insight
Consolidate Multiple Lines of Business onto a Single Platform (PDF)
Group Insurers: The Truth About Picking the Perfect IT Vendor
Take Advantage of Upsell Opportunities with Modern Policy Administration
