Oracle Insurance has introduced Oracle Revenue Management and Billing for Insurance, providing insurers the billing capabilities necessary to deliver streamlined billing, payment, and collections processes and improve service to customers and distribution channels.
Oracle's new solution enables insurers to meet the market demand for multichannel strategies and increased cross-selling capabilities. The solution also helps insurers to improve enterprise revenue management while supporting diverse lines of business on a single platform to reduce cost of ownership.
Oracle Revenue Management and Billing for Insurance is part of the Oracle Insurance solution footprint--an end-to-end offering that includes support for core insurance operations, distribution channels, corporate operations, IT, and enterprise performance management.
"In today's competitive insurance market, insurers must balance multiple challenges, including the need to improve revenue management and reduce IT total cost of ownership while providing enhanced customer service that is critical to developing and maintaining long-term customer relationships and satisfying the agents and brokers that manage these relationships," says Chuck Johnston, vice president, strategy and alliances for the Oracle Insurance global business unit. "Oracle Revenue Management and Billing for Insurance delivers a solution that helps insurers to expand and optimize use of distribution channels while supporting diverse lines of business on a single, cost-effective billing platform. The solution supports delivery of universal, best-in-class service that today's customers demand."
