Introduction

Oracle Insurance Policy Administration (OIPA) for Life and Annuity is a highly flexible, rules-based policy administration solution that supports policy issue, billing, collections, policy processing, and claims in a single system. Leading insurance companies worldwide use OIPA for Life and Annuity to accelerate product development and reduce time to market, improve operational efficiency through centralized policy management and record keeping, and better service their customers and sales channels. The technologically advanced, but easy-to-use system provides the agility and flexibility that insurers need to remain competitive through the rapid rollout of simple to highly complex insurance products.

Overview

• Flexible, rules-based configuration speeds creation and launch of products.

• User-friendly visual configuration tool simplifies debugging.

• Product cloning promotes reuse of rules and decreases development time.

• Powerful calculation engine and integrated debugger tool.

• Transaction-level testing improves accuracy and supports quality assurance.

Benefits

• Leverage a single system for improved efficiency and lower TCO.

• Bring new products to market faster through collaborative development.

• Configure changes without customization or recompiling system's core code.

• Increase product development flexibility.

• Support compliance through a detailed audit trail.