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Built on adaptive, rules-driven systems that let insurance companies easily change business processes as their needs change, Oracle enables property and casualty insurers to deliver an omnichannel customer experience through modern customer communications management (CCM) and comprehensive insurance rate and quote capabilities.
Rating systems consolidation becomes imperative for insurers focusing on growth, as it enables you to react to market changes faster, provide consistent rating across channels, and improve risk management.
A standalone rating engine, such as Oracle Insurance Insbridge Enterprise Rating, offers new functionality and significant speed-to-market benefits that legacy rating system can't match. The solution provides insurers with a more agile business, reduces total cost of ownership, speeds time to market, and improves distribution management.
Constant exposure to digital technology sharply 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 Oracle 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.
Consumers need an omnichannel experience. Advanced CCM can be used as an effective strategy to engage existing customers and prospects.
By matching all of our business functionality needs against the capabilities of Oracle Documaker, and comparing them to the other vendors, Oracle Documaker really became the clear winner.Denise Blankinship, VP, Information and Data Support, Church Pension Group
Oracle Documaker has empowered our agents to effectively serve customers by giving them access to the policyholder’s history including coverage forms, declarations, invoices, and letters.Shari Ebben, Supervisor, Systems Development, SECURA Insurance
“We brought rate changes and new products to market faster. Business analysts could do the work in a shorter time. We’re able to get premium benefits more quickly and reduce expenses.”Bill Jenkins, CIO, Penn National
Oracle Insurance Insbridge forms the backbone for our new rating system that will enable us to improve rating ability and respond quickly to market changes, while meeting regulatory requirements.Jim Segriff, Vice President, Property Underwriting, CNA