ClearView, an insurance, investment, and advice company, has adopted Oracle's policy administration system as part of a comprehensive technology investment to modernise its systems and processes.
The Oracle Insurance Policy Administration (OIPA) helps insurers modernise and simplify their business by consolidating multiple back-office policy systems on a single platform. It supports policy issuance, billing, collections, policy processing, and claims.
With the new administration system, ClearView expects to improve efficiencies, meet new regulatory requirements, reduce operating costs, and improve the digital experience of its employees and customers.
“ClearView is in the middle of a multi-year transformation program to ensure that the right systems, processes, and technology are in place to drive scale, efficiencies, and customer satisfaction,” said ClearView managing director Simon Swanson.
“A key plank in our transformation is a new policy administration system to enhance internal operations and ensure we remain easy to do business with. With Oracle at the core of our technology strategy, ClearView will be better able to meet the needs of our current and future customers, adapt to ongoing change, and continue to grow.”
Oracle's rules-driven administration system has open integration capabilities and the ability to be deployed on the cloud, including Oracle Cloud Infrastructure and its Autonomous Database and Autonomous Transaction Processing capabilities.
Venky Srinivasan, the group vice president for sales, APJ & Middle East, at Oracle Financial Services, commented: “With Oracle, ClearView can improve operational efficiency while accelerating new product and service development.
“ClearView is committed to digitally transforming its operations to provide customers with the modern and seamless experience expected today. Oracle Insurance Policy Administration provides ClearView with the foundation it needs to modernise, positioning this forward-thinking company as a leader in a very competitive market.”
