Oracle has released a new version of Oracle Insurance Insbridge Rating and Underwriting, which now includes Oracle Insurance Rating Express.
The new release helps insurance companies meet growing requirements to accelerate product time-to-market by offering users new rating templates, automated template reconciliation and pre-built industry content via Oracle Insurance Rating Express.
The new version of Oracle Insurance Insbridge continues Oracle’s commitment to delivering complete, modern solutions that enable insurance companies to solve key business challenges and transform their enterprise.
Oracle Insurance applications help insurance companies improve business agility through software that manages the entire enterprise – from technical infrastructure to core insurance processing. Oracle announced the availability of Oracle Utilities Customer.
According to the company, Flexible Insurance Services Office (ISO) loss costs templates, available via the new Oracle Insurance Rating Express feature, help facilitate compliance with corporate and industry standards, save development time and reduce the rating errors. Users can also create custom deviations from the pre-built template content and maintain those customizations as new template versions are updated. Oracle Insurance Insbridge requires no programming, so business users can manage the applications themselves — from updating tables to creating surcharges and discounts and more.
Rick Connors, senior vice president and general manager of Oracle Insurance, said: “Oracle Insurance Insbridge Rating and Underwriting is scalable and helps speed time-to-market for insurance products. The addition of industry-specific templates, automated template reconciliation and pre-built industry content via Oracle Rating Express shows the company’s commitment to develop and extend services.”