SCIENCE

Oracle OpenWorld, insurance customers received a preview of two planned product releases from Oracle Insurance: Oracle Documaker Release 12, a solution for creating and managing documents; and Oracle Insurance Insight 7.0, an insurance-specific business intelligence solution.

Oracle Documaker Release 12 is expected to feature an automated document factory, which enhances “business intelligence for your communications” with report and dashboard capabilities. Oracle anticipates that the Oracle Documaker Document Factory should help insurers reduce costs and improve efficiency through improved scalability and better visibility into document production.

With Oracle Insurance Insight 7.0, Oracle plans to accelerate business intelligence project timelines through “adaptive data modeling,” enhancements that allow business users to amend and improve the data warehouse, lowering the cost of BI projects and speeding implementation.

Oracle’s plan for Oracle Insurance Insight 7.0 is to help insurers eliminate obstacles to BI project implementation, enabling access to the insight that can positively impact business performance in months instead of years.

Both Oracle Documaker Release 12 and Oracle insurance Insight 7.0 are planned for release in the next 12 months.

Supporting Quotes

“Insurers need to adapt to constantly shifting market conditions and take advantage of new business opportunities as they arise,” said Don Russo, Senior Vice President and General Manager, Oracle Insurance. “By incorporating the Oracle technology stack into our insurance applications and developing ground-breaking approaches, such as the automated document factory and adaptive data modeling, Oracle will provide insurers the technology they need to meet their business challenges and truly transform their operations.”