Posted on 25 May 2010
Oracle on Monday at the ACORD/LOMA Conference in Las Vegas, NV announced the availability of Oracle Insurance Insbridge Rating and Underwriting 4.0, an industry-leading adaptive enterprise solution for rating, premium calculation and underwriting rules management.
The latest release features a redesigned user interface that uses Web 2.0 technology and places greater control in the hands of the business user for expanded collaboration and visibility, greater flexibility, improved product development accuracy and faster speed to market.
Oracle Insurance Insbridge Rating and Underwriting serves as a single point of rating truth for product, premium and underwriting data,which enables insurers to respond quickly to market changes, effectively manage the lifecycle of a policy and meet regulatory requirements.
Specific enhancements to the newest release include:
- A new, tabbed authoring interface that enables all activities - from editing of tables and algorithms to testing and debugging - to open in separate tabs in a single interface, enabling users to efficiently and accurately manage all active tasks without the need to restart navigation.
- A new home screen that provides a customizable dashboard for user to quickly resume recent tasks or easily begin a new activity.
- Users can customize home screen content through simple drag and drop.
- Web 2.0-enabled "snaps" on the home screen that provide information at the business users' finger tips to promote communication and collaboration. Additionally, the home screen isnenabled to accept RSS feeds and Web links that instantly notify users of company announcements, product updates and other pertinent industry information.
- Improved technology support for significantly improved performance and system efficiency, including support for Oracle Database 11g in the Insbridge SoftRater calculation engine. Oracle Insurance Insbridge Rating and Underwriting maintains its open architecture and provides continued support for most major databases, servers and operating systems.
"Today's insurance market demands agility and the ability to adapt quickly to changing conditions. Insurers require tools that empower business users to improve productivity and collaboration and accelerate time to market. Web 2.0-enabled interfaces - such as the one in Oracle Insurance Insbridge Rating and Underwriting 4.0 - respond to this need, helping insurers get new products to market faster than before," said Matthew Josefowicz, director and head of the insurance practice at industry analyst firm Novarica.
"The latest release of Oracle Insurance Insbridge Rating and Underwriting takes a holistic approach to managing all rating functionality for all lines of business from a single system," said Srini Venkatasantham, vice president, Product Strategy, Oracle Insurance. "The result is a new level of business user empowerment that better supports collaboration, improved efficiency and product