Oracle announced it has agreed to acquire AdminServer, a provider of insurance policy administration software. AdminServer's product offering will become a core component of Oracle's existing insurance industry software.

The AdminServer product line will accelerate Oracle's investment in the insurance industry and be complemented by Oracle's existing insurance products such as Oracle Billing, Siebel Claims, and Siebel CRM for Insurance.

The combination of Oracle and AdminServer will result in a comprehensive policy management solution that can manage multiple insurance product lines such as life, annuities, and reinsurance. Additionally, AdminServer's management and employees will form a dedicated business unit within Oracle that will focus on providing operational applications to the insurance industry. AdminServer's CEO Rick Connors is expected to lead the business unit as general manager.

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