Equisoft, a Canadian digital business solutions provider, has achieved the upgraded version 10 of Oracle Insurance Policy Administration (OIPA) for life and annuity platform.
Having completed many OIPA implementations worldwide to date for Oracle, Equisoft is an experienced reseller and integrator for the Oracle insurance platform, which covers the range of functions an insurance company needs for the back-office support of group, individual, investment-like products, life, annuities and health.
Achieving this new level of certification demonstrates Equisoft's continued commitment to remain at the forefront of Oracle Policy Administration System integrations.
According to Srini Venkat, Vice President, Global Insurance and Healthcare Solutions and Sales Support at Oracle: "Equisoft not only has an in-depth knowledge of the platform, but they also have developed an extensive toolset of OIPA accelerators over the years for illustrations, electronic application, as well as commissions and group templates. This know-how really helps to speed up the integration and reduce the cost for insurers of all sizes."
An industry facing digital transformation challenges
Many life insurance companies are considering or undertaking digital transformations to compete more successfully in today's rapidly evolving marketplace. Oracle and Equisoft understand the importance of these profound changes and want insurers to maximize return on investment while ensuring a smooth transition.
Equisoft is currently working with 20 insurers on Oracle Insurance Policy Administration integration projects involving implementation and ongoing support in 11 countries and in three languages, the majority of which are version 10.