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Insurance SolutionsPresenter’s Name
Presenter’s Title
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The following is intended to outline our general
product direction. It is intended for information
purposes only, and may not be incorporated into
any contract. It is not a commitment to deliver any
material, code, or functionality, and should not be
relied upon in making purchasing decision. The
development, release, and timing of any features
or functionality described for Oracle’s products
remains at the sole discretion of Oracle.
Safe Harbor Statement
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• Leadership in Insurance
• Innovation in Insurance Solutions
• Results Achieved by Oracle Customers
Agenda
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Oracle in Insurance Did You Know?
20 of the top 20 insurance companies runOracle Applications
1,000+ insurance companies run Oracle
Applications
12 of the top 15 life insurers in the world run
Oracle Applications
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The Challenges We’re Hearing
Grow Business &Optimize Distribution
Grow Business &Optimize Distribution
“How can I increase the effectiveness anddiversity of my distribution channels andpolicy service operations?”
“… the big challenge is now to double our effort and focus on operational excellenceand growth.” -- James Schiro, CEO, Zurich Financial Services, January 2006
Compliance &Regulatory Pressures
Compliance &Regulatory Pressures
“How can my organization meet increasingnational and regional insurance departmentregulatory compliance demands?”
“In early 2005, the four largest brokerage firms negotiated regulatory settlementsconcerning, among other things, their compensation practices. Following theirsettlements, some firms altered their long-standing practices and restructured theiroperations.” - HRH 2005 Annual Report
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The Challenges We’re Hearing (cont’d)
Scale Costs & Price
Products to MarketOpportunity
Scale Costs & Price
Products to MarketOpportunity
“How can I improve combined ratios while
providing greater value to our customersand still achieve continuous growth?”
“A chasm is growing between insurers using state-of-the-art analytics and thosewho aren’t… The ‘haves’ will be able to write business at the margins they target.The ‘have nots’ will fall victim to adverse selection…the bar will rise continually ascompetition drives weaker players from the field.”
-- Frank J. Coyne, chairman, president and CEO, ISO - ISOtech, 2006
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Industry Quotes
“Oracle’s Siebel Insurance Claims is an interesting choice for amid-size to large insurer. It represents a combination of basic andextended claims functionality-extended with Siebel and Oraclecomponents. It also brings a good deal of prepackagedfunctionality, with rules,scripting, and performance reporting
capabilities.” – Donald Light, Insurance Analyst
"They (Oracle) have been very acquisitive in the last couple years,It's a good move for Oracle, buying both PeopleSoft and Siebel,
in that it does give them that vertical presence.“– Marc Cecere , VP Insurance Practice
“Oracle’s PeopleSoft Enterprise General Ledger provides anestablished, well developed set of capabilities within a broadand deep family of other accounting, financial, human resource,and supply chain applications.”
– Donald Light, Insurance Analyst
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Agenda
• Leadership in Insurance
• Innovation in Insurance Solutions
• Results Achieved by Oracle Customers
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Oracle Insurance SolutionsBringing a comprehensive, end-to-end solution to the insurance industry
Increase Revenue through Distribution Management andCustomer Service
Enable Flexible and Efficient Policy Lifecycle Management
Improve Corporate Governance through BI and ERM
Provide Efficient and Effective Operational Support
Enable Next Generation Insurance Technology Platform
Business Intelligence
Technology & Architecture
Sales, Service,& Marketing
Core SystemsRisk, Compliance
& PerformanceHCM & Financials
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Increasing Revenue through DistributionManagement and Customer ServiceRequirement Oracle Capability The Oracle Difference
Increase Insurers’Understanding of
Customers, Marketand Distribution
Oracle BusinessAnalytics and
Universal CustomerMaster for Insurance
Oracle Offers 140+Insurance-specific Dashboards, 200+
Reports and Objects toAnalyze Key Customer Data
Oracle Manages Agent,Broker, Customer and PolicyInformation Consistently and
Securely Cross Channel
Manage Multiple,Complex Distribution
Relationships
Oracle’s SiebelInsurance Partner
Management
Support Balanced MarketingCampaigns across Agent,
Broker, and Direct Channels,plus Streamline Lead Mgmt
Only Oracle Provides Multi-channel Campaign Support
with Integrated SFA andCustomer Analytics
Oracle’s SiebelMarketing & Siebel
Insurance CRM
Enable Multi-ChannelService for Distribution
Partners and Customers
Oracle’s SiebelCall Center for
Insurance Service
Oracle Enables CollaborationBet. Agents, Call Center andPolicyholders with Real-Time
Decisions for Cross-Sell / Upsell
Example
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Example:
Distribution Management
OracleOracle
BusinessBusiness
IntelligenceIntelligence
• Sales Process Mgmt
• Rapid Product Rollout• Sales/Partner
Credentials• Book of Business
Comprehensive Distribution Insight and ManagementComprehensive Distribution Insight and Management
SiebelSiebel
MarketingMarketing
SiebelSiebel
InsuranceInsurance
CRM/PRMCRM/PRM
• Customer
Segmentation• ProgramManagement
• ChannelMarketing
• Results Tracking
• Customer Knowledge
• Channel Profitability• Product Profitability• Market Insight• Insurance
Dashboards
Oracle’s Siebel Marketing
Analytics
Oracle’s Siebel Insurance Oracle Siebel Call Center
Web Services
• Caller Profiles
• Automated ScreenPops
• Interaction Logging• Task-based UI• Manage Escalation• Managed Self-Service
SiebelSiebel
InsuranceInsurance
ServiceService
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SOLUTIONS
• Oracle Siebel Insurance
CHALLENGES / OPPORTUNITIES
• Overwhelmed with paper
• Outmoded, paper-based salesprocesses hindered effective
management of sales opportunities• Wanted to improve consistency and
quality of customer service
CUSTOMER PERSPECTIVE
“One customer was delighted recently when,having submitted a claim online, he receiveda call from one of our agents a few hourslater to correct an error made on the form.
It is instances like this that seal ourreputation for outstanding customer service.”
― Johan Reyneke, Managing Director
RESULTS
• Reduced time to transfer leads from bankto brokerage from 3 days to seconds
• Increased penetration for homeinsurance from 15% to 65%
• Increased penetration for motor
insurance from 18% to 40%• Enabled accurate, near time forecasting
• Provided a single, 360-degree view ofcustomer relationships to 200 sales staffand 45 customer service reps
COMPANY OVERVIEW
• Johannesburg, South Africa
• Annual revenue: $10 B
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Oracle Insurance SolutionsBringing a comprehensive, end-to-end solution to the insurance industry
Increase Revenue through Distribution Management andCustomer Service
Enable Flexible and Efficient Policy Lifecycle Management
Improve Corporate Governance through BI and ERM
Provide Efficient and Effective Operational Support
Enable Next Generation Insurance Technology Platform
Business Intelligence
Technology & Architecture
Sales, Service,& Marketing
Core SystemsRisk, Compliance
& PerformanceHCM & Financials
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Enable Flexible and Efficient PolicyLifecycle ManagementRequirement Oracle Capability The Oracle Difference
Support ComplexDirect and Agent Billing
Oracle InsuranceBilling, EBS
Financials, PSFTFinancials, FSAH
Oracle Uniquely IntegratesAccount Current InsuranceBilling, Configurable LapseProcessing, and Insurance-
Specific Accounting Rules
Only Oracle Provides CompletePolicy Lifecycle Component
Solutions Deployed on a
Modern, Enterprise Architecture
Rapidly Issue andAdminister Insurance
Policies
Oracle’s Policy AdminSystem for Life, P&C,
and Reinsurance
Reduce Claims Expensewhile Improving Customer
Interaction Experience
Only Oracle Personalizesthe Claims Process andReduces Cost throughProcess Improvement
OracleInsurance Claims,Content Services
Support Integrated,Auditable, PaperlessEnterprise Business
Processes
BPM, BEPL, BusinessProcess Analysis Suite,
Content Services,Identity Mgmt, App Server
Oracle Provides the MostComplete ACORD-Compliant
Toolkit to Deploy Secure, Stable,Business Oriented SOA ACORD
Architectures For Insurers
Example:
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Example:
Policy Lifecycle Management
Oracle PolicyOracle Policy
AdministrationAdministration
• Sales Process Mgmt• Rapid Product Rollout• Sales/Partner Credentials• Book of Business
OracleOracle
InsuranceInsurance
BillingBilling
EndEnd--toto--End Insurance Policy Lifecycle ManagementEnd Insurance Policy Lifecycle Management
OracleOracle
Customer DataCustomer Data
ManagementManagementSiebel InsuranceSiebel Insurance
• Maintain hierarchies andcomplex relationships
• Centralize customer data• Scrub customer
information
• Individual & Group Bills• Account Current• Agency Bill• Rules-based lapse• Financial Integration
• New BusinessProcessing
• Policy Issue• Cycle Processing• Flexible policy rules• Financial Integration
Siebel Insurance
Oracle Insurance BillingOracle Customer Data Management
Web Services
Oracle Insurance Policy Administration
Example:
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Example:
Enterprise Claims Management
PeopleSoftPeopleSoft
FinancialsFinancials
• First Notice of Loss• Process Management• Fraud Detection• Partner Integration• Claims Resolution
FinancialFinancial
ServicesServices
Acct HubAcct Hub
Relationship Driven, Integrated Claims ManagementRelationship Driven, Integrated Claims Management
Oracle ContentOracle Content
ManagementManagementSiebel InsuranceSiebel Insurance
ClaimsClaims
• Store/Manage Docs• Account Level Retrieval• Enterprise CM Strategy• Compliance Support
• Reserve Management• Detail Transactions• Support Legacy Claims
Systems• Multiple Ledger
Support
• Claims Reserve Accting• Financial Reporting• Claims Performance• Payment & Fulfillment
Web Services
Oracle Content Services
Financial Services Accounting HubFinancials & Performance Management
Oracle’s Siebel Insurance Claims
M t i t M t l
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SOLUTIONS
• Oracle Siebel Claims
• Implemented in claims center with 250claims specialist and managers
• Used to manage end-to-end claims processfrom FNOL, to adjuster assignment tosubrogation and legal
CHALLENGES / OPPORTUNITIES
• Information scattered across 28 appsresulting in lengthy claims resolution
• Consolidating data from disparatesystems - including claims, billing, andpolicy-management systems - wouldprovide claims unit with a single, real-time
view of customers’ claims file and enableincrease in process automation
CUSTOMER PERSPECTIVE
“We have seen about $1 million in annualexpense reduction as a result of Oracle’sSiebel Claims Implementation. Some of thebenefits or our implementation are reduce
staff, leakage, paper and improve agent’sproductivity.”
― Dave Kaufman, Senior VP and CIO
RESULTS
• Realized substantial productivity gains
• Reducing process expense (ongoing)
• Closed a branch office and reducedfacilities expense
COMPANY OVERVIEW• Headquartered in Ohio• Revenue of US $1.5B
Motorists Mutual
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Oracle Insurance SolutionsBringing a comprehensive, end-to-end solution to the insurance industry
Increase Revenue through Distribution Management and
Customer Service
Enable Flexible and Efficient Policy Lifecycle Management
Improve Corporate Governance through BI and ERM
Provide Efficient and Effective Operational Support
Enable Next Generation Insurance Technology Platform
Business Intelligence
Technology & Architecture
Sales, Service,& Marketing
Core SystemsRisk, Compliance
& PerformanceHCM & Financials
C G
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Improve Corporate Governance throughBusiness Intelligence & Enterprise Risk Mgmt
Requirement Oracle Capability The Oracle Difference
Provide ActionableCustomer & Product
Profitability Insight
Customer & ProductProfitability Engine
(EPM, OFSA)
Oracle Has a Fully ScalableSolution to Compute Individual
Customer Profitability
Delivered in Operational andExecutive Dashboards
Be the Foundation forRegulatory Complianceto Meet State & Federal
Regulator Needs
BPEL, BPM, InternalControls Manager, ICE,Stellent Content Mgt,
Financial ServicesAccounting Hub
Oracle Delivers the MostComprehensive Platform forDeployment of Transparent,Auditable and Bulletproof
Insurance Processes
Deliver Financial &Operational Business
Transparency
Oracle Business AnalyticsBalanced Scorecard with
Insurance Data Model
Only Oracle providesIntegrated Analytics
Dashboards to Monitor BothFinancials and Real-timeOperational Process withInsurance-Specific KPIs
Example:
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p
Compliance, Enterprise Risk & PerformanceExtending business intelligence across the enterprise
Oracle GRCOracle GRC
ManagerManager
• Solvency II compliance• Operation Risk
Modeling• Risk & Compliance
Reporting platform
FinancialFinancial
ServicesServices
Acct HubAcct Hub
OFSAOFSA
ProfitabilityProfitability
ManagementManagement
ReveleusReveleus
Ops RiskOps Risk
• Next generationaccounting rulesengine
• Fully integrated withOracle GL
• Enterprise BusinessProcessManagement\Consolidated data repository
• Embedded internalcontrols
Analytics ServerBI Dashboards Analytic Engines
Databases
Data Warehouse
• Complete profitabilitysuite
• Integrated with risk andfinance solutions
• Multi dimensionalprofitability
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SOLUTIONS
• Oracle Risk Manager• Oracle Database
• Deployed In 2003
CHALLENGES / OPPORTUNITIES• Has seen significant growth in the online
car insurance market and has respondedby expanding its range of products andservices
• Effective asset and liability administration
is essential in Korea’s fluctuatingbusiness environment
CUSTOMER PERSPECTIVE
“Risk management encompasses more than just capital management; it is aboutmanaging overall company value. Thismeans companies need to shift their focus
from short-term profit maximization to long-term value. First Fire & Marine Insurancehas laid the groundwork for valuemanagement by implementing Oracle RiskManager on Oracle Database.“
― Dong-Young Lee, Team Mgr, Risk Mgmt
RESULTS
• Established a stable, secure market riskmanagement system
• Optimized business information and riskmanagement through property and debtanalysis
• Ensured quick response to oversightagencies
COMPANY OVERVIEW• Headquartered in Seoul, South Korea
• Revenue: Over US $100M
First Fire & Marine Insurance
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Oracle Insurance SolutionsBringing a comprehensive, end-to-end solution to the insurance industry
Increase Revenue through Distribution Management and
Customer Service
Enable Flexible and Efficient Policy Lifecycle Management
Improve Corporate Governance through BI and ERM
Provide Efficient and Effective Operational Support
Enable Next Generation Insurance Technology Platform
Business Intelligence
Technology & Architecture
Sales, Service,& Marketing
Core SystemsRisk, Compliance
& PerformanceHCM & Financials
Provide Efficient and Effective
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Provide Efficient and EffectiveOperational Support
Requirement Oracle Capability The Oracle Difference
Increase Employee /Agent Knowledge and
Retention whileReducing Training Cost
PeopleSoft HumanCapital Mgmt, EBS Human
Resources Mgmt,Learning Management
Oracle’s Leadership andExperience in Learning Mgmt
Reduces Agent Training
Costs and IncreasesAgent Value and Retention
Manage MultipleFinancial Environments
for Multi-lineCompanies Globally
Oracle Financial ServicesAccounting Hub,
Consolidation Hub,Global Consolidations
Oracle’s Unique OfferingCan Help Insurers ManageMultiple Financial
Environments and Multi-PointAdmin System Integration
Manage Statutory and
GAAP Environments toSupport Global InsuranceReporting Requirements
PeopleSoft Financial
Management,EBS Financials
Only Oracle Has theMulti-GAAP/STAT and XBRL
Support Required to MeetGlobal Insurance IndustryReporting Requirements
Example:
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24
Enterprise Financials ManagementApplications for the high-performance enterprise
EnterpriseEnterprise
AssetAsset
ManagementManagement
• Automated financialprocessing
• Account for multiple,heterogeneous sources
• Enhance internalcontrols and auditability
OracleOracle
ProcurementProcurement
OracleOracle
BusinessBusiness
IntelligenceIntelligence
EnterpriseEnterprise
Financial MgmtFinancial Mgmt
• Align Operations withCorporate Strategy
• Manage RiskProactively
• Collaborate Acrossthe Enterprise
• Reduce Spend onGoods and Services
• StreamlineProcurement
• Enforce Policy
Compliance
• Improve assetvisibility, tracking,and control
• Optimize assetportfolio management
Subledger
AccountingSubledgerubledger
Accountingccounting
Drr Crr
GeneraleneralLedgeredger Receivableseceivableseceivables Payablesayablesayables
ManualManualEntryEntry
OpenOpenInterfaces /Interfaces /
APIAPI
ExcelExcel(Web ADI)(Web ADI)
SubledgerSubledgerInvoices &Invoices &DocumentsDocuments
OnlineOnlineReconciliationReconciliation
ReportingReporting
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SOLUTIONS
Oracle E-Business Suite• General Ledger
• Accounts Payable
• Fixed Assets
CHALLENGES / OPPORTUNITIES
• Lacked an integrated financial package
• Required huge manual effort tocalculate asset depreciation and other
key financial measures that make upthe expense to premium ratio, critical toinsurance reporting and strategicmanagement planning
CUSTOMER PERSPECTIVE
“We are examining our internal processesand developing new ways of thinking. Oracleis playing an important role in that process."
― Liz Catchpole, CFO, Life & Health Business
RESULTS
• Reduced manual process and increaseddirect process controls
• Instituted automated payment runs
• Automated expense reporting.
• Reduced training time and costs foraccounting staff
• Redeployed staff to more strategicactivities
COMPANY OVERVIEW
• Headquartered in Zurich, Switzerland
• Revenue: CHF 100 million
• Employees: 9,000
O l I S l ti
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Oracle Insurance SolutionsBringing a comprehensive, end-to-end solution to the insurance industry
Increase Revenue through Distribution Management and
Customer Service
Enable Flexible and Efficient Policy Lifecycle Management
Improve Corporate Governance through BI and ERM
Provide Efficient and Effective Operational Support
Enable Next Generation Insurance Technology Platform
Business Intelligence
Technology & Architecture
Sales, Service,& Marketing
Core SystemsRisk, Compliance
& PerformanceHCM & Financials
Enable Next Generation Insurance
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Enable Next Generation InsuranceTechnology PlatformRequirement Oracle Capability The Oracle Difference
Secure Customer Dataand Access for Risk andCompliance Reporting
Enterprise Security andIdentity Management
Integrated Data and IdentityManagement for GLBA, Patriot
Act and SOX Compliance
Gain Real-time InsightAcross Channels
Integrated InsuranceKPIs and KRIs from
Multiple Legacy Sources
Business Intelligencefor Insurance
Integrated Service-OrientedArchitecture & ACORD-
based Models for Insurance
Enable New ServicesAcross Product Silos
Service EnabledProcesses andApplications
Selectively ConsolidateLegacy Systems onto
Open Standard Platform
Enterprise GridComputing and
Content Management
Manage Structured &Unstructured Data withScalable and Reliable
Grid Technology
O l F i Middl
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Oracle Fusion Middleware
Farmer’s Mutual Hail
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SOLUTIONS• Oracle Fusion Middleware-based
online portal
• Implemented with help from Cisco
CHALLENGES / OPPORTUNITIES
• Needed to provide a more efficient,simplified process to grant policyholdersand insurance agents secure access topolicy information
• Manual transactions were time-intensiveand raised operational costs
CUSTOMER PERSPECTIVE“Cisco and Oracle Fusion Middlewareenabled us to automate business processesand increase security by providing our policyholders and agents with an automated self-
registration process.”― Ron Rutledge, VP, Information Services
RESULTS
• Provide agents and customers direct
access to policy information• Deliver self-service and customerprovisioning to users
• Consolidated existing businessprocesses
• Improved security, enhanced efficiency
and reduced cost through automatedaccess privilege management
• Integrated disparate workflows into asingle, visible and easily extensiblebusiness process
COMPANY OVERVIEW• Headquartered in West Des Moines, Iowa
• Revenue: $224 Million
• Employees: 207
Farmer’s Mutual Hail
Solutions Map – Overall View
Oracle Solution Footprint
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ISV PartnersOracle
Corporate Administration
Indirect
ProcurementCPM
Facilities
Management
Human
ResourcesProjects CompensationFinancials
HR IT
Helpdesk
Front Office Support
Customer ServiceSales Force AutomationMarketing Automation
ClaimsProcessing
Analytics
Sales Marketing Channel
Enterprise Performance Mgmt
Financial & Risk Planning
Operations Procurement
Claims
Insurance Operations
Policy
Administration
Vendor Mgmt.
& Procurement
Reinsurance
Management
Product
Development
Distribution
Management
New Business
Regulatory
Reporting
Investment
Management
Payments
& Disbursements
Strategic
Planning
Billing &
Collections
Partner Management
Business Process Analytics
J2EE Services, ESB and Rules Engine
IT Infrastructure
Business Activity Monitoring Rich Client Framework (AJAX, Web 2.0)Analytic Services, Portal & Dashboards
Enterprise Content Management
Web Services Orchestration (BPEL)Web Services Management
Access MgmtDatabase [Grid, Memory, Embed] Identity Mgmt
Universal Customer Master (MDM)
Directory SvcsSystems Management
Oracle Solution Footprint
Top to Bottom Support for Insurance
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Operating System
Database
FusionMiddleware
Tools / J2EE
Applications
Consulting
Top to Bottom Support for Insurance
#1 Enterprise Software Vendor• ERP, CRM, HR and more
• Most scalable, reliable, secure infrastructure
• Most complete range of on-demand and on-premise
deployment options
Built-In Insurance Capabilities• Customer focused claims management
• Real-time insurance fraud detection
• Insurance analytic dashboards and industry KPIs
• Closed-loop insurance distribution management
• End-to-end insurance process support
Largest Software Support Team• 3,000+ support engineers
• 145+ countries
The Oracle Difference
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The Oracle Difference
• Is the leading provider of customer-centric Insurance solutions withcomplete front office agent / broker and customer management supportincluding real-time distribution analytics and book of business support
• Brings true customer-focus to the insurance claims process while providing acomplete front to back claims solution including predictive modeling, frauddetection and reserve/payment management
• Solves the most complex Insurance Billing problems throughintelligent bill reconciliation and rules-based bill management and regulatedarrears processing
• Enables insurers to regulate, audit and manage business processes and
information to meet global compliance regulation
• Provides the comprehensive toolset to deploy real Insurance SOAarchitectures today
Only Oracle…
Agenda
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Agenda
• Leadership in Insurance
• Innovation in Insurance Solutions
• Results Achieved by Oracle Customers
What Customers are Achieving
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What Customers are Achieving…
Enabled agents to secure 1300 incrementalappointments each week
Increased the percentage of requests closed thesame day by 20% in 12 months
Improved productivity in the claims area by 25%
Reduced costs by an estimated US$15.1 millionby automating manual tasks and eliminatingredundant processes
Oracle Insurance Solutions Summary
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Oracle Insurance Solutions Summary
DistributionDistributionManagementManagementand Serviceand Service
GovernanceGovernanceand Complianceand Compliance
EffectiveEffective
OperationalOperationalSupportSupport
Policy LifecyclePolicy LifecycleManagementManagement
Next GenerationNext Generation
TechnologyTechnologyPlatformPlatform
• Manage internal and external distribution networks• Provide insight into distribution profitability
• Enable multi-channel customer service
• Support auditable, automated enterprise business processes
• Provide detailed financial & operational business insight
• Deliver actionable customer & product profitability insight
• Increase agent/broker knowledge & reduce overhead costs
• Deliver financial results in industry formats
• Connect Financials to better measure & monitor results
• Deliver end to end, customer-centric claims management
• Provide enterprise billing and commission managementwith vertical process functionality
• Enable comprehensive business process management
• Accelerate development of new services with a openstandards based insurance platform
• Improve agility with capability to create flexiblecomposite applications
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