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Oracle Press Release
West Bend Mutual Insurance Company Selects Oracle Insurance Insbridge Rating and Underwriting
Single Rating and Underwriting Solution Will Improve Rating Accuracy, Efficiency and Speed
Redwood Shores, Calif. – July 13, 2010
News Facts
West Bend Mutual Insurance Company, a Wisconsin-based, Midwest regional provider of property and casualty insurance for homes, autos and personal property and businesses, has selected Oracle Insurance Insbridge Rating and Underwriting to improve rating efficiency, flexibility and speed for agents to provide quotes to their customers.
West Bend selected Oracle Insurance Insbridge as its personal lines rating engine because of its intuitive, easy-to-use, rules-based interface, and for its scalable engine. These features make it easier for business users, such as actuaries and underwriters, to build and manage rates without IT support – helping insurers respond quickly to market changes, effectively manage the lifecycle of a policy and meet regulatory requirements.
The company's long-term vision is to use Oracle Insurance Insbridge as the rating engine for all lines of insurance.
Supporting Quote
“Oracle Insurance Insbridge Rating and Underwriting will help us advance our mission of being the insurance company of choice for our associates, agents and policyholders. We expect the user-friendly system to improve our efficiency in managing our rating structures. This will allow us to bring new rating features to market more quickly and at lower cost, which benefits our associates, agents and policyholders. Since Oracle Insurance Insbridge is built on a service-oriented architecture, it will integrate easily with our other systems, including our policy administration system – jump starting our return on investment,” said Jim Schwalen, West Bend’s vice president, Personal Lines and Marketing.
“Oracle Insurance Insbridge helps insurers, like West Bend, to compete profitably in a changing market by enabling them to improve the speed and agility of their rating and underwriting processes. The adaptive, rules-based system places greater control in the hands of business users for expanded collaboration, greater flexibility, improved product development accuracy and faster speed to market – all prerequisites for success in today’s business environment,” said Srini Venkatasantham, vice president, Product Strategy, Oracle Insurance.
Supporting Resources
Oracle Insurance
Oracle Introduces Newest Version of Oracle Insurance Insbridge Rating and Underwriting
Oracle Insurance Insbridge Rating and Underwriting Group on Oracle Mix
Oracle Insurance on Facebook
Oracle Insurance on Twitter
About Oracle
Oracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.com
Trademarks
Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
Contact Info
Katie Barron
Oracle
+1.703.364.2488
katie.barron@oracle.com
Mary Tobin
O’Keeffe & Company
+1.503.658.7396
mtobin@okco.com
     
more...
West Bend Mutual Insurance Company Selects Oracle Insurance Insbridge Rating and Underwriting
Single Rating and Underwriting Solution Will Improve Rating Accuracy, Efficiency and Speed
Redwood Shores, Calif. – July 13, 2010
News Facts
West Bend Mutual Insurance Company, a Wisconsin-based, Midwest regional provider of property and casualty insurance for homes, autos and personal property and businesses, has selected Oracle Insurance Insbridge Rating and Underwriting to improve rating efficiency, flexibility and speed for agents to provide quotes to their customers.
West Bend selected Oracle Insurance Insbridge as its personal lines rating engine because of its intuitive, easy-to-use, rules-based interface, and for its scalable engine. These features make it easier for business users, such as actuaries and underwriters, to build and manage rates without IT support – helping insurers respond quickly to market changes, effectively manage the lifecycle of a policy and meet regulatory requirements.
The company's long-term vision is to use Oracle Insurance Insbridge as the rating engine for all lines of insurance.
Supporting Quote
“Oracle Insurance Insbridge Rating and Underwriting will help us advance our mission of being the insurance company of choice for our associates, agents and policyholders. We expect the user-friendly system to improve our efficiency in managing our rating structures. This will allow us to bring new rating features to market more quickly and at lower cost, which benefits our associates, agents and policyholders. Since Oracle Insurance Insbridge is built on a service-oriented architecture, it will integrate easily with our other systems, including our policy administration system – jump starting our return on investment,” said Jim Schwalen, West Bend’s vice president, Personal Lines and Marketing.
“Oracle Insurance Insbridge helps insurers, like West Bend, to compete profitably in a changing market by enabling them to improve the speed and agility of their rating and underwriting processes. The adaptive, rules-based system places greater control in the hands of business users for expanded collaboration, greater flexibility, improved product development accuracy and faster speed to market – all prerequisites for success in today’s business environment,” said Srini Venkatasantham, vice president, Product Strategy, Oracle Insurance.
Supporting Resources
Oracle Insurance
Oracle Introduces Newest Version of Oracle Insurance Insbridge Rating and Underwriting
Oracle Insurance Insbridge Rating and Underwriting Group on Oracle Mix
Oracle Insurance on Facebook
Oracle Insurance on Twitter
About Oracle
Oracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit oracle.com
Trademarks
Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
Contact Info
Katie Barron
Oracle
+1.703.364.2488
katie.barron@oracle.com
Mary Tobin
O’Keeffe & Company
+1.503.658.7396
mtobin@okco.com
     
more...