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In response to global insurance industry software needs, Oracle has formed a new business unit, Oracle Insurance, and unveiled Oracle Application Integration Architecture (AIA) Foundation Pack for Insurance at the San Francisco Oracle OpenWorld. Oracle Insurance is designed to serve more than 2,000 insurance customers worldwide and help the insurance industry manage the entire software enterprise from technical infrastructure to core insurance processing, the company said.

With Oracle Insurance products, insurers can get products to market faster, reduce operational costs, strengthen customer and distributor relationships, and gain full visibility into their business operations, the company said. Oracle Insurance leverages a broad standards-based product set that spans the company’s Database, Fusion Middleware, Enterprise Resource Planning, Customer Relationship Management
and Enterprise Performance Management applications, as well as industry-specific offerings from Oracle’s AdminServer, Skywire Software and Siebel product lines.

“The company’s dedicated focus on insurance, extensive experience in providing innovative solutions to the industry, and unmatched development and support resources set the stage for innovation that enables insurers to achieve new levels of agility,
performance and customer service,” said Jeff Fabry, chief information officer and chief security officer for Island Insurance.

“The elevated presence of IT leader 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,” said Piyush Singh, chief information officer for Great American Insurance Co.

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Topics Training Development