Oracle Insurance introduces the latest version of its revenue management and billing solution, a rules-based system that enables insurers to manage billing, payments and collections using a single solution.
With the newest version of the software, insurers can automate group and list bill reconciliation—traditionally a labor-intensive, manual process—enabling them to cut processing costs, improve productivity, and reduce revenue leakage through improved reconciliation accuracy.
"Modern, flexible, insurance billing systems are critical to meeting customer service and communications objectives," says Mike Fitzgerald, senior analyst at Celent. "The billing function is transforming from a back-office operation to a front-office value proposition. Carriers are making significant investments in skills and technology to position billing as a critical customer service activity and an opportunity to retain clients."
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