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Oracle releases new version of Oracle Insurance Insbridge Rating and Underwriting solution

Oracle Corporation has released the version 4.1 of Oracle Insurance Insbridge Rating and Underwriting, an adaptive enterprise solution for rating and underwriting rules management.

The latest release includes new features that support flexibility, adaptability and productivity for insurers, agents and underwriters, including the ability to conduct mobile rating.

Upon installation of the software on laptop or mobile, users can conduct rating and quoting in an offline environment, allowing agents and underwriters to provide quick and responsive service to customers in the field.

The solution also includes expanded rate version name and foldering capabilities that promote usability, efficiency and accuracy.

The solution is expected to address the needs of high-touch lines of business, such as healthcare insurance, where policies are more often sold by agents meeting face-to-face with clients in their homes.

In addition, Oracle Insurance Insbridge Rating and Underwriting 4.1 includes new Web 2.0 features that extend user communication and collaboration by allowing users to provide input on system functionality to Oracle developers and share ideas on new ways to use Oracle Insurance Insbridge.

Oracle Insurance vice president of product strategy Srini Venkatasantham said Oracle Insurance Insbridge Rating and Underwriting 4.1 extends Oracle’s commitment to building adaptive insurance solutions that enable flexible, end-to-end business processes.

"With this release, we deliver the power of mobile rating, which enables agents, underwriters, and, ultimately, insurers, to work more efficiently and deliver more flexible and responsive service to potential and existing customers," Venkatasantham said.