Oracle has launched Oracle Insurance to help more than 2,000 insurance customers worldwide improve business agility through an end-to-end software offering that manages the entire enterprise–from technical infrastructure to core insurance processing.
Oracle Insurance products are designed to help producers get products to market faster, reduce operational costs, strengthen customer and distributor relationships, and gain visibility into their business operations, the company explains.
"Insurance companies have been a key part of Oracle's customer base for many years. We have launched Oracle Insurance in response to our customers' needs for end-to-end solutions that deliver value across the insurance enterprise," says Rick Connors, senior vice president and general manager, Oracle Insurance. "Oracle Insurance has the applications and expertise that will help customers shift from legacy systems to modern technology and profitably grow their businesses."
Oracle Insurance offers customers flexibility to address critical business issues by delivering applications as part of an integrated solution or as a best-in-class offering.
The company leverages a broad standards-based product set that spans Oracle Database, Oracle Fusion Middleware, Oracle Enterprise Resource Planning (ERP), customer relationship management (CRM) and enterprise performance management applications (EPM) as well as industry-specific offerings from Oracle's AdminServer, Skywire Software, and Siebel product lines.
To demonstrate its focus on the insurance market, Oracle introduced Oracle Application Integration Architecture (AIA) Foundation Pack for Insurance, which enables insurance companies to accelerate application integration between Siebel CRM Claims and Oracle's PeopleSoft Enterprise or Oracle E-Business Suite Financials to streamline payments and reserve management.
Oracle AIA Foundation Pack for Insurance helps insurers to unify their application portfolio–including new and existing systems–minimize integration costs and risks and adapt business processes.
"Oracle's expanded focus on the insurance industry is a positive sign for insurers and their CIOs," says Piyush Singh, CIO of Great American Insurance Company. "The elevated presence of Oracle in the insurance sector–and its commitment to delivering an integrated suite of offerings that help insurers improve efficiency, time to market, and customer service–will spark even greater innovation across our industry."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.