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• Fidelity Investments Life Insurance Executive Weighs in on Policy Administration Modernization

  - by helen.pitts(at)oracle.com

  James Klauer, vice president of Client Services Technology at Fidelity Investment Life Insurance, weighs in on the rationale and challenges associated with policy administration system replacement in this month's digital issue of Insurance Networking News.    In "The Policy Administration Replacement Quandary"  Klauer shared the primary business benefit that can be realized by adopting a modern policy administration system--a timely topic given that recent industry analyst surveys indicate policy administration replacement and modernization will continue to be a top priority for insurers this year.    "Modern policy administration systems are more flexible than systems of the past," Klauer says in the article. " This has allowed us to shorten our delivery time for new products and product changes.  We have also had a greater ability to integrate with other systems and to deliver process efficiencies."   Klauer goes on to advise that insurers ensure they have a solid understanding of the requirements when replacing their legacy policy administration system. "If you can afford the time, take the opportunity to re-engineer your business processes.  We were able to drastically change our death processes, introducing automation and error-proofing." Click here to read more of Klauer's insights and recommendations for best practices in the publication's "Ask & Answered" column.   You also can learn more the benefits of an adaptive, rules-driven approach to policy administration and how to mitigate risks associated with system replacement by attending the free Oracle Insurance Virtual Summit:  Fueling the Adaptive Insurance Enterprise, 10:00 a.m. - 6:00 p.m. EST, Wednesday, January 26.      Insurance Networking News and Oracle Insurance have teamed up to bring you this first-of-its-kind event. This year's theme, "Fueling the Adaptive Insurance Enterprise," will focus on bringing you information about exciting new technology concepts, which can help your company react more quickly to new market opportunities and, ultimately, grow the business.    Visit virtual booths and chat online with Oracle product specialists, network with other insurers, learn about exciting new product announcements, win prizes, and much more--all without leaving your office.  Be sure and attend the on-demand session, "Adapt, Transform and Grow: Accelerate Speed to Market with Adaptive Insurance Policy Administration," hosted by Kate Fowler, product strategy director for Oracle Insurance Policy Administration for Life and Annuity.   Register Now!   Helen Pitts is senior product marketing manager for Oracle Insurance's life and annuities solutions.

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• Oracle Insurance Gets Innovative with Insurance Business Intelligence

  - by nicole.bruns(at)oracle.com

  Oracle Insurance announced yesterday the availability of Oracle Insurance Insight 7.0, an insurance-specific data warehouse and business intelligence (BI) system that transforms the traditional approach to BI by involving business users in the creation and maintenance."Rapid access to business intelligence is essential to compete and thrive in today's insurance industry," said Srini Venkatasantham, vice president, Product Strategy, Oracle Insurance. "The adaptive data modeling approach of Oracle Insurance Insight 7.0, combined with the insurance-specific data model, offers global insurance companies a faster, easier way to get the intelligence they need to make better-informed business decisions." New Features in Oracle Insurance 7.0 include:"Adaptive Data Modeling" via the new warehouse palette: Gives business users the power to configure lines of business via an easy-to-use warehouse palette tool. Oracle Insurance Insight then automatically creates data warehouse elements - such as line-specific database structures and extract-transform-load (ETL) processes -speeding up time-to-value for BI initiatives. Out-of-the-box insurance models or create-from-scratch option: Includes pre-built content and interfaces for six Property and Casualty (P&C) lines. Additionally, insurers can use the warehouse palette to deploy any and all P&C or General Insurance lines of business from scratch, helping insurers support operations in any country.Leverages Oracle technologies: In addition to Oracle Business Intelligence Enterprise Edition, the solution includes Oracle Database 11g as well as Oracle Data Integrator Enterprise Edition 11g, which delivers Extract, Load and Transform (E-L-T) architecture and eliminates the need for a separate transformation server. Additionally, the expanded Oracle technology infrastructure enables support for Oracle Exadata. Martina Conlon, a Principal with Novarica's Insurance practice, and author of Business Intelligence in Insurance: Current State, Challenges, and Expectations says, "The need for continued investment by insurers in business intelligence capabilities is widely understood, and the industry is acting. Arming the business intelligence implementation with predefined insurance specific content, and flexible and configurable technology will get these projects up and running faster."Learn moreTo see a demo of the Oracle Insurance Insight system, click hereTo read the press announcement, click here

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• Underwriting in a New Frontier: Spurring Innovation

  - by [email protected]

  Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Calibri","sans-serif";} Susan Keuer, product strategy manager for Oracle Insurance, shares her experiences and insight from the 2010 Association of Home Office Underwriters (AHOU) Annual Conference, April 11-14, in San Antonio, Texas    How can I be more innovative in underwriting?  It's a common question I hear from insurance carriers, producers and others, so it was no surprise that it was the key theme at the recent 2010 AHOU Annual Conference.  This year's event drew more than 900 insurance professionals involved in the underwriting process across life and annuities, property and casualty and reinsurance from around the globe, including the U.S., Canada, Australia, Bahamas, and more, to San Antonio - a Texas city where innovation transformed a series of downtown drainage canals into its premiere River Walk tourist destination.   CNN's Medical Correspondent Dr. Sanjay Gupta kicked off the conference with a phenomenal opening session that drove home the theme of the conference, "Underwriting in a New Frontier:  Spurring Innovation."   Drawing from his own experience as a neurosurgeon treating critically injured medical patients in the field in Iraq, Gupta inspired audience members to think outside the box during the underwriting process. He shared a compelling story of operating on a soldier who had suffered a head-related trauma in a field hospital.  With minimal supplies available Gupta used a Black and Decker saw to operate on the soldier's head and reduce pressure on his swelling brain. Drawing from this example, Gupta encouraged underwriters to think creatively, be innovative, and consider new tools and sources of information, such as social networking sites, during the underwriting process. So as you are looking at risk take into consideration all resources you have available.    Gupta also stressed the concept of IKIGAI - noting that individuals who believe that their life is worth living are less likely to die than are their counterparts without this belief.  How does one quantify this approach to life or thought process when evaluating risk?  Could this be something to consider as a "category" in the near future? How can this same belief in your own work spur innovation?   The role of technology was a hot topic of discussion throughout the conference.  Sessions delved into the latest in underwriting software to the rise of social media and how it is being increasingly integrated into underwriting process and solutions.  In one session a trio of panelists representing the carrier, producer and vendor communities stressed the importance to underwriters of leveraging new technology and the plethora of online information sources, which all could be used to accurately, honestly and consistently evaluate the risk throughout the underwriting process.   Another focused on the explosion of social media noting:  1.    Social media is growing exponentially - About eight percent of Americans used social media five years ago. Today about 46 percent of Americans do so, with 85 percent of financial services professionals using social media in their work.  2.    It will impact your business - Underwriters reconfirmed over and over that they are increasingly using "free" tools that are available in cyberspace in lieu of more costly solutions, such as inspection reports conducted by individuals in the field.  3.    Information is instantly available on the Web, anytime, anywhere - LinkedIn was mentioned as a way to connect to peers in the underwriting community and producers alike.  Many carriers and agents also are using Facebook to promote their company to customers - and as a point-of-entry to allow them to perform some functionality - such as accessing product marketing information versus directing users to go to the carrier's own proprietary website.  Other carriers have released their tight brand marketing to allow their producers to drive more business to their personal Facebook site where they offer innovative tools such as Application Capture or asking medical information in a more relaxed fashion.     Other key topics at the conference included the economy, ongoing industry consolidation, real-estate valuations as an asset and input into the underwriting process, and producer trends.  All stressed a "back to basics" approach for low cost, term products.   Finally, Connie Merritt, RN, PHN, entertained the large group of atttendees with audience-engaging insight on how to "Tame the Lions in Your Life - Dealing with Complainers, Bullies, Grump and Curmudgeon." Merritt noted "we are too busy for our own good." She shared how her overachieving personality had impacted her life.  Audience members then were asked to pick red, yellow, blue, or green shapes, without knowing that each one represented a specific personality trait.  For example, those who picked blue were the peacemakers. Those who choose yellow were social - the hint was to "Be Quiet Longer."  She then offered these "lion taming" steps:   1.    Admit It 2.    Accept It 3.    Let Go 4.    Be Present (which paralleled Gupta's IKIGAI concept)   When thinking about underwriting I encourage you to be present in the moment and think creatively, but don't be afraid to look ahead to the future and be an innovator.  I hope to see you at next year's AHOU Annual Conference, May 1-4, 2011 at The Mirage in Las Vegas, Nev.     Susan Keuer is the product strategy manager for new business underwriting.  She brings more than 20 years of insurance industry experience working with leading insurance carriers and technology companies to her role on the product strategy team for life/annuities solutions within the Oracle Insurance Global Business Unit  

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• 12/14 IDC Webcast on Insurance Distribution Strategies -- Manage Data and Engage Customers

  - by charles.knapp

  The insurance industry faces unprecedented challenges from new competition, more rigorous regulatory obligations, tighter capital restrictions, and more demanding customers. The winners will be those insurers that can successfully manage complex and disparate data resources to engage successfully with their customers, building trust through outstanding, multi-channel customer service with the insurer and its agents. At the heart of all these issues is the ability of insurers to engage directly with agents and customers using their preferred channels; measure risk and profitability accurately, and quickly to enable swift decision-making; and transform aging IT infrastructure so that the business can drive down costs and protect eroding margins. In this one-hour webcast, moderated by Insurance & Technology Magazine Executive Editor Anthony O'Donnell, you will learn about critical distribution management strategies that work. Join Peter Farley of analyst firm IDC Financial Insights, Scott Mampre of Capgemini, and Srini Venkat of Oracle Insurance to learn ways to maximize improvements to competitiveness, customer service, operating efficiencies - and ultimately profitability and growth. Please join us!

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• Access Insurance Company Wins 2010 Technology Innovation Award at IASA

  - by [email protected]

  Helen Pitts, senior product marketing manager for Oracle Insurance, is blogging from the 2010 IASA Annual Conference and Business Show this week. For the second time in two weeks an Oracle Insurance customer has earned recognition at an insurance industry event for its innovative use of technology to transform their business. Access Insurance Company received the 2010 Technology Innovation Award during the 2010 IASA Annual Conference and Business Show this week in Grapevine, Texas. The company earned the recognition for its "Instant Access" application, which executes all the business rules and processes needed to provide a quote, bind, and issue a policy. CIO Andy Dunn and Tim Reynolds stopped by the Oracle Insurance Booth at IASA to visit with the team, show their award, and share how the platform has provided a strategic advantage to the company and helped it increase revenue by penetrating new markets, increasing market share and improving customer retention. Since implementing Instant Access in 2009 - a platform that leverages both Oracle Insurance Insbridge Rating and Underwriting and Oracle Documaker - the carrier has: Increased policies in force by 22%, from 140,185 to more than 270,000 Grown market share by 4.6% Increased 2009 revenue by 26.5% Increased ratio of policyholders per CSR by 30% Increased its appointed independent producers by 43 percent Now that's true innovation! You can learn more about the company's formula for success by reading Access Insurance Holdings CEO and president Michael McMenamin's interview with Insurance & Technology, Data Mastery Drives Access Insurance's 'Instant Access' Business Technology Platform. Congratulations to Michael, Andy, Tim and the entire team at Access Insurance on this well deserved honor - and for your role as a technology leader for the industry. Helen Pitts is senior product marketing manager for Oracle Insurance.

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• 99 Life Hacks to Make Your Life Easier!

  - by Asian Angel

  We have featured some awesome life hacks, tips, and tricks here before on HTG ETC, but today we are back with a super compilation full of geeky ingenuity! Get ready to increase your problem solving repertoire with this terrific collection of 99 life hacks. 99 Life Hacks to make your life easier! [via BoingBoing] How Hackers Can Disguise Malicious Programs With Fake File Extensions Can Dust Actually Damage My Computer? What To Do If You Get a Virus on Your Computer

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• Oracle Insurance Unveils Next Generation of Enterprise Document Automation: Oracle Documaker Enterprise Edition

  - by helen.pitts(at)oracle.com

  Oracle today announced the introduction of Oracle Documaker Enterprise Edition, the next generation of the company's market-leading Enterprise Document Automation (EDA) solution for dynamically creating, managing and delivering adaptive enterprise communications across multiple channels. "Insurers and other organizations need enterprise document automation that puts the power to manage the complete document lifecycle in the hands of the business user," said Srini Venkatasanthanam, vice president, Product Strategy, Oracle Insurancein the press release. "Built with features such as rules-based configurability and interactive processing, Oracle Documaker Enterprise Edition makes possible an adaptive approach to enterprise document automation - documents when, where and in the form they're needed." Key enhancements in Oracle Documaker Enterprise Edition include: Documaker Interactive, the newly renamed and redesigned Web-based iDocumaker module. Documaker Interactive enables users to quickly and interactively create and assemble compliant communications such as policy and claims correspondence directly from their desktops. Users benefits from built-in accelerators and rules-based configurability, pre-configured content as well as embedded workflow leveraging Oracle BPEL Process Manager. Documaker Documaker Factory, which helps enterprises reduce cost and improve operational efficiency through better management of their enterprise publishing operations. Dashboards, analytics, reporting and an administrative console provide insurers with greater insight and centralized control over document production allowing them to better adapt their resources based on business demands. Other enhancements include: enhanced business user empowerment; additional multi-language localization capabilities; and benefits from the use of powerful Oracle technologies such as the Oracle Application Development Framework for all interfaces and Oracle Universal Content Management (Oracle UCM) for enterprise content management. Drive Competitive Advantage and Growth: Deb Smallwood, founder of SMA Strategy Meets Action, a leading industry insurance analyst consulting firm and co-author of 3CM in Insurance: Customer Communications and Content Management published last month, noted in the press release that "maximum value can be gained from investments when Enterprise Document Automation (EDA) is viewed holistically and all forms of communication and all types of information are integrated across the entire enterprise. "Insurers that choose an approach that takes all communications, both structured and unstructured data, coming into the company from a wide range of channels, and then create seamless flows of information will have a real competitive advantage," Smallwood said. "This capability will soon become essential for selling, servicing, and ultimately driving growth through new business and retention." Learn More: Click here to watch a short flash demo that demonstrates the real business value offered by Oracle Documaker Enterprise Edition. You can also see how an insurance company can use Oracle Documaker Enterprise Edition to dynamically create, manage and publish adaptive enterprise content throughout the insurance business lifecycle for delivery across multiple channels by visiting Alamere Insurance, a fictional model insurance company created by Oracle to showcase how Oracle applications can be leveraged within the insurance enterprise. Meet Our Newest Oracle Insurance Blogger: I'm pleased to introduce our newest Oracle Insurance blogger, Susanne Hale. Susanne, who manages product marketing for Oracle Insurance EDA solutions, will be sharing insights about this topic along with examples of how our customers are transforming their enterprise communications using Oracle Documaker Enterprise Edition in future Oracle Insurance blog entries. Helen Pitts is senior product marketing manager for Oracle Insurance.

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• ACORD LOMA 2010: Building Insurance Companies in the Clouds

  - by [email protected]

  Chuck Johnston, vice president of global strategy and alliances for Oracle Insurance, participated in a featured speaking session at ACORD LOMA 2010. He provides an update on his discussions with insurers at the show and after his presentation. Every year I always make a point of walking the show floor at the ACORD LOMA technology conference to visit with colleagues and competitors, and try to get a feel for which way the industry will move over the next 12 months. Insurers are looking for substance in cloud (computing), trying to mix business with pleasure (monetizing social networks), and expect differentiation through commodity (Software as a Service). The disconnect at this show is that most vendors are still struggling with creating a clear path from Facebook to customer intimacy, SaaS to core cost savings and clouds to ubiquitous presence. Vendors need to find new ways to help insurers find the real value in these potentially disruptive technologies by understanding the changes coming to the insurance business and how these new technologies impact the new insurance business. Oracle's approach to understanding the evolving insurance industry comes from a discussion with our customers in our Insurance CIO Council, where one of our customers suggested we buy an insurance company to really understand our customers. We have decided to do the next best thing and build our own model of an insurance company, Alamere Insurance, that uses the latest technologies to transform its own business. Alamere will never issue an actual policy, but it does give us a framework to consider the impacts of changes in the insurance landscape and how Oracle technology meets the challenge or needs to evolve to help our customers be successful. In preparing for my talk at the conference using Alamere as my organizing theme, I found myself reading actuarial memoranda on CSO table changes and articles on underwriting theory that really made me think about my customer's problems first and foremost, and then how Oracle technology can provide answers. As much as I prefer techno-thrillers and sci-fi novels to actuarial papers for plane reading, I got very excited about the idea of putting myself back in the customer shoes I haven't worn in a decade, and really looking at how Oracle can power the Adaptive Insurance Enterprise. Talking to customers and industry people after the session, the idea of Alamere seemed to excite people and I got a lot of suggestions as to what lines of business we should model and where we should focus first on technology uptake. One customer said to a colleague that Oracle's attempt to "share their pain" was unique among vendors. More about Alamere, and the Adaptive Insurance Enterprise next time. Chuck Johnston is vice president of global strategy and alliances for Oracle Insurance.

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• Challenges and Opportunities to Drive Change in the Healthcare System Explored at America’s Health Insurance Plans Exchange Conference and Institute 2013

  - by elaine blog

  The program theme at the June America’s Health Insurance Plans (AHIP) Exchange Conference and AHIP’s Institute 2013 was Transforming Our Health Care System: Navigating and Succeeding in the New Marketplace.  Topics included care delivery transformation, innovation for a new healthcare eco system, Health Insurance Exchanges, the nexus of consumerism, retail and healthcare, driving value through improved operations and leveraging technology, data and innovation to transform care. Oracle participated as a sponsor of both conferences, signaling the significant investment and activity Oracle continues to make in helping health plans, providers and government agencies become more efficient and more relevant in the healthcare market place. AHIP is a national trade association representing the health insurance industry. AHIP’s members provide health and supplemental benefits to more than 200 million Americans through employer-sponsored coverage, the individual insurance market and public programs such as Medicare and Medicaid.   AHIP advocates for public policies that expand access to affordable health care. Health plans are focusing on the Health Insurance Exchanges and the opportunities they offer to provide better access and higher quality healthcare.  With the opportunities come operational challenges to implementation and innovative technology solutions to consider.   At the Exchange Conference, Oracle hosted a breakfast symposium on “Strategies for Success:  Driving Business Transformation in the Growing Health Insurance Exchange Market”. With Health Insurance Exchanges as catalysts for change, attendees learned about how to achieve integration within an Exchange and deploy new business strategies to support health reform initiatives. Discussion covered steps and processes to successfully establish and implement enrollment systems, quote to card activities, program pricing, claims billing, automated claims processing and new customer service tools. Piyush Pushkar, COO of Benefitalign, an Oracle partner that provides solutions to adopt innovative business models for retail, HIX, consumer-centric health plan and benefits administration, spoke on the state of the Exchanges in the U.S. and the activities health plans are engaged in to support individuals entering the healthcare system, including sales automation, member enrollment automation/portals and integration strategies with the Exchanges. The Oracle and Benefitalign partnership allows seamless integration between a health plan enrollment solution with the HIX individual market and allows for the health plan to customize and characterize the offerings available to the HIX that may or may not be available through other channels.  This approach can benefit the health plan through separation of interests, but also because some state-run HIXs require such separation. Janice W. Young, Program Director, Payer IT Strategies, IDC Health Insights, reviewed a survey of health plans on their investment priorities for this last year as well as this year.  She also identified the 2013-2015 strategies of go/get to market with front end and compliance investments; leveraging existing business processes and internal technologies; and establishing best practices.  Of key interest to the audience was a reform era payer solutions platform overview mapping technologies to support the business operations. David Bonham of the Oracle Health Insurance organization moderated the panel and spoke on Oracle’s presence in healthcare and products for payers to help them drive efficiencies and gain a competitive advantage in an ever changing market. Oracle serves healthcare stakeholders with applications such as billing, rating and underwriting, analytics, CRM, enrollment, and products for processing of health insurance claims including pricing and benefits administration, as well as payment of providers through alternative, non-fee for service reimbursement methods. Oracle in Healthcare….Did you know? More than 80 healthcare payers run Oracle applications. More than 300 leading healthcare providers run Oracle applications. 10 out of the top 12 fortune Global 500 healthcare organizations run Oracle applications. For more information on Oracle solutions for healthcare payers, please visit oracle.com/insurance or these individual solution pages: Oracle Health Insurance Components Oracle Insurance Insbridge Rating and Underwriting Oracle Insurance Revenue Management and Billing Oracle Documaker Oracle Healthcare Oracle CRM Related Resources Webcast On Demand: Strategies for Success: Driving Business Transformation in the Growing Health Insurance Exchange Market Strategy Brief: Executing on the Individual Mandate: Opportunities and Challenges for Healthcare Payers White Paper: White paper: Navigating Alternative Provider Reimbursement Models of the Future Strategy Brief: Enterprise Rating Agility Improves Payer Response to Healthcare Reform Podcast: Technology Implications of Healthcare Reform Don’t forget to keep up with us year-round: Facebook: www.facebook.com/oracleinsurance Twitter: www.twitter.com/oracleinsurance YouTube: www.youtube.com/oracleinsurance

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• Life Technologies: Making Life Easier to Manage

  - by Michael Snow

  12.00 Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-family:"Calibri","sans-serif"; mso-bidi-font-family:"Times New Roman";} When we’re thinking about customer engagement, we’re acutely aware of all the forces at play competing for our customer’s attention. Solutions that make life easier for our customers draw attention to themselves. We tend to engage more when there is a distinct benefit and we can take a deep breath and accept that there is hope in the world and everything isn’t designed to frustrate us and make our lives miserable. (sigh…) When products are designed to automate processes that were consuming hours of our time with no relief in sight, they deserve to be recognized. One of our recent Oracle Fusion Middleware Innovation Award Winners in the WebCenter category, Life Technologies, has recently posted a video promoting their “award winning” solution. The Oracle Innovation Awards are part of the overall Oracle Excellence awards given to customers for innovation with Oracle products. More info here. Their award nomination included this description: Life Technologies delivered the My Life Service Portal as part of a larger Digital Hub strategy. This Portal is the first of its kind in the biotechnology service providing industry. The Portal provides access to Life Technologies cloud based service monitoring system where all customer deployed instruments can be remotely monitored and proactively repaired. The portal provides alerts from these cloud based monitoring services directly to the customer and to Life Technologies Field Engineers. The Portal provides insight into the instruments and services customers purchased for the purpose of analyzing and anticipating future customer needs and creating targeted sales and service programs. This portal not only provides benefits for Life Technologies internal sales and service teams but provides customers a central place to track all pertinent instrument information including: instrument service history instrument status and previous activities instrument performance analytics planned service visits warranty/contract information discussion forums social networks for lab management and collaboration alerts and notifications on all of the above team scheduling for instrument usage promote optional reagents required to keep instruments performing From their website The Life Technologies Instruments & Services Portal Helps You Save Time and Gain Peace of Mind Introducing the new, award-winning, free online tool that enables easier management of your instrument use and care, faster response to requests for service or service quotes, and instant sharing of key instrument and service information with your colleagues. Now – this unto itself is obviously beneficial for their customers who were previously burdened with having to do all of these tasks separately, manually and inconsistently by nature. Now – all in one place and free to their customers – a portal that ties it all together. They now have built the platform to give their customers yet another reason to do business with them – Their headline on their product page says it all: “Life is now easier to manage - All your instrument use and care in one place – the no-cost, no-hassle Instruments and Services Portal.” Of course – it’s very convenient that the company name includes “Life” and now can also promote to their clients and prospects that doing business with them is easy and their sophisticated lab equipment is easy to manage. In an industry full of PhD’s – “Easy” isn’t usually the first word that comes to mind, but Life Technologies has now tied the word to their brand in a very eloquent way. Between our work lives and family or personal lives, getting any mono-focused minutes of dedicated attention has become such a rare occurrence in our current era of multi-tasking that those moments of focus are highly prized. So – when something is done really well – so well that it becomes captivating and urges sharing impulses – I take notice and dig deeper and most of the time I discover other gems not so hidden below the surface. And then I share with those I know would enjoy and understand. In the spirit of full disclosure, I must admit here that the first person I shared the videos below with was my daughter. She’s in her senior year of high school in the midst of her college search. She’s passionate about her academics and has already decided that she wants to study Neuroscience in college and like her mother will be in for the long haul to a PhD eventually. In a summer science program at Smith College 2 summers ago – she sent the family famous text to me – “I just dissected a sheep’s brain – wicked cool!” – This was followed by an equally memorable text this past summer in a research mentorship in Neuroscience at UConn – “Just sliced up some rat brain. Reminded me of a deli slicer at the supermarket… sorry I forgot to call last night…” So… needless to say – I knew I had an audience that would enjoy and understand these videos below and are now being shared among her science classmates and faculty. And evidently - so does Life Technologies! They’ve done a great job on these making them fun and something that will easily be shared among their customers social networks. They’ve created a neuro-archetypal character, “Ph.Diddy” and know that their world of clients in academics, research, and other institutions would understand and enjoy the “edutainment” value in this series of videos on their YouTube channel that pokes fun at the stereotypes while also promoting their products at the same time. They use their Facebook page for additional engagement with their clients and as another venue to promote these videos. Enjoy this one as well! More to be found here: http://www.youtube.com/lifetechnologies Stay tuned to this Oracle WebCenter blog channel. Tomorrow we'll be taking a look at another winner of the Innovation Awards, LADWP - helping to keep the citizens of Los Angeles engaged with their Water and Power provider.

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• Innovation, Adaptability and Agility Emerge As Common Themes at ACORD LOMA Insurance Forum

  - by [email protected]

  Helen Pitts, senior product marketing manager for Oracle Insurance is blogging from the show floor of the ACORD LOMA Insurance Forum this week. Sessions at the ACORD LOMA Insurance Forum this week highlighted the need for insurance companies to think creatively and be innovative with their technology in order to adapt to continuously shifting market dynamics and drive business efficiency and agility.  LOMA President & CEO Robert Kerzner kicked off the day on Tuesday, citing how the recent downtown and recovery has impacted the insurance industry and the ways that companies are doing business.  He encouraged carriers to look for new ways to deliver solutions and offer a better service experience for consumers.  ACORD President & CEO Gregory Maciag reinforced Kerzner's remarks, noting how the industry's approach to technology and development of industry standards has evolved over the association's 40-year history and cited how the continued rise of mobile computing will change the way many carriers are doing business today and in the future. Drawing from his own experiences, popular keynote speaker and Apple Co-Founder Steve Wozniak continued this theme, delving into ways that insurers can unite business with technology.  "iWoz" encouraged insurers to foster an entrepreneurial mindset in a corporate environment to create a culture of creativity and innovation.  He noted that true innovation in business comes from those who have a passion for what they do.  Innovation was also a common theme in several sessions throughout the day with topics ranging from modernization of core systems, automated underwriting, distribution management, CRM and customer communications management.  It was evident that insurers have begun to move past the "old school" processes and systems that constrain agility, implementing new process models and modern technology to become nimble and more adaptive to the market.   Oracle Insurance executives shared a few examples of how insurers are achieving innovation during our Platinum Sponsor session, "Adaptive System Transformation:  Making Agility More Than a Buzzword." Oracle Insurance Senior Vice President and General Manager Don Russo was joined by Chuck Johnston, vice president, global strategy and alliances, and Srini Venkatasantham, vice president of product strategy.  The three shared how Oracle's adaptive solutions for insurance, with a focus on how the key pillars of an adaptive systems - configurable applications, accessible information, extensible content and flexible process - have helped insurers respond rapidly, perform effectively and win more business. Insurers looking to innovate their business with adaptive insurance solutions including policy administration, business intelligence, enterprise document automation, rating and underwriting, claims, CRM and more stopped by the Oracle Insurance booth on the exhibit floor.  It was a premiere destination for many participating in the exhibit hall tours conducted throughout the day. Finally, red was definitely the color of the evening at the Oracle Insurance "Red Hot" customer celebration at the House of Blues. The event provided a great opportunity for our customers to come together and network with the Oracle Insurance team and their peers in the industry.  We look forward to visiting more with of our customers and making new connections today. Helen Pitts is senior product marketing manager for Oracle Insurance. 

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• The 2010 Life Insurance Conference - Washington, DC

  - by [email protected]

  How ironic to be in Washington, DC on April 15 - TAX DAY! Fortunately, I avoided IRS offices and attended the much more enjoyable 2010 Life Insurance Conference, presented by LIMRA, LOMA SOA and ACLI. This year's conference offered a variety of tracks focused on the Life Industry including Distribution/Marketing Marketing, Administration, Actuarial/Product Development, Regulatory, Reinsurance and Strategic Management. President and CEO of the ACLI, Frank Keating, opened the event by moderating a session titled "Executive Viewpoint on new Opportunities." Guest speakers included Ted Mathas, President and CEO of NY Life, and John Walters, President and CEO of Hartford Life. Both speakers were insightful as they shared the challenges and opportunities each company faces and the key role life insurance companies play in our society and the global economy. There were several key themes that were reiterated in multiple sessions throughout the conference - the economy is on the rebound, optimism is growing, consumer spending is up and an uptick in employment is likely to follow. The threat of a double dip recession has seemed to passed. Good news for our industry, and welcomed by all in attendance. Of special interest to me, given my background, was some research shared by both The Nolan Group and Novarica in separate sessions. Both firms indicate that policy administration upgrades/replacement projects remain a top priority in 2010. Carriers continue to invest in modern technology. Modern ultra-configurable systems enable carriers to switch from a waterfall to an agile project methodology, which often entails a "culture change" within an organization. Other themes heard throughout the two-day event: Virtually all sessions focused on People, Process and Technology! Product innovation, agility and speed to market are as important as ever. Social Networks and Twitter are becoming more popular ways of communicating with both field and dispersed staff. Several sessions focused on the application, new business and underwriting process. Companies continue looking for ways to increase market agility, accelerate speed to market, address cost issues and improve service levels across the process. They recognize the need to ease the way to do business with both producers and consumers. Author and economic futurist Jeff Thredgold presented an entertaining, informative and humorous general session on Wednesday afternoon that focused on the US and global economies, financial markets and retirement outlook. Thredgold did not disappoint anyone with his message! The Thursday morning general session was keynoted by Therese Vaughan (CEO - NAIC) and Thomas Crawford (President of C2 Group). Both speakers gave a poignant view of the recent financial crisis and discussed "Putting the Pieces Back Together." Therese spoke of the recent financial turmoil and likely changes to regulations to the financial services sector. Tom's topics focused on economic recovery and the political environment in Washington, and how that impacts our industry. Next year's event will be April 11-13, 2011 in Las Vegas. Roger A.Soppe, CLU, LUTCF, is the Senior Director of Insurance Strategy, Oracle Insurance.

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• ACORD LOMA Session Highlights Policy Administration Trends

  - by [email protected]

  Helen Pitts, senior product marketing manager for Oracle Insurance, attended and is blogging from the ACORD LOMA Insurance Forum this week. Above: Paul Vancheri, Chief Information Officer, Fidelity Investments Life Insurance Company. Vancheri gave a presentation during the ACORD LOMA Insurance Systems Forum about the key elements of modern policy administration systems and how insurers can mitigate risk during legacy system migrations to safely introduce new technologies. When I had a few particularly challenging honors courses in college my father, a long-time technology industry veteran, used to say, "If you don't know how to do something go ask the experts. Find someone who has been there and done that, don't be afraid to ask the tough questions, and apply and build upon what you learn." (Actually he still offers this same advice today.) That's probably why my favorite sessions at industry events, like the ACORD LOMA Insurance Forum this week, are those that include insight on industry trends and case studies from carriers who share their experiences and offer best practices based upon their own lessons learned. I had the opportunity to attend a particularly insightful session Wednesday as Craig Weber, senior vice president of Celent's Insurance practice, and Paul Vancheri, CIO of Fidelity Life Investments, presented, "Managing the Dynamic Insurance Landscape: Enabling Growth and Profitability with a Modern Policy Administration System." Policy Administration Trends Growing the business is the top issue when it comes to IT among both life and annuity and property and casualty carriers according to Weber. To drive growth and capture market share from competitors, carriers are looking to modernize their core insurance systems, with 65 percent of those CIOs participating in recent Celent research citing plans to replace their policy administration systems. Weber noted that there has been continued focus and investment, particularly in the last three years, by software and technology vendors to offer modern, rules-based, configurable policy administration solutions. He added that these solutions are continuing to evolve with the ongoing aim of helping carriers rapidly meet shifting business needs--whether it is to launch new products to market faster than the competition, adapt existing products to meet shifting consumer and /or regulatory demands, or to exit unprofitable markets. He closed by noting the top four trends for policy administration either in the process of being adopted today or on the not-so-distant horizon for the future: Underwriting and service desktops New business automation Convergence of ultra-configurable and domain content-rich systems Better usability and screen design Mitigating the Risk When Making the Decision to Modernize Third-party analyst research from advisory firms like Celent was a key part of the due diligence process for Fidelity as it sought a replacement for its legacy policy administration system back in 2005, according to Vancheri. The company's business opportunities were outrunning system capability. Its legacy system had not been upgraded in several years and was deficient from a functionality and currency standpoint. This was constraining the carrier's ability to rapidly configure and bring new and complex products to market. The company sought a new, modern policy administration system, one that would enable it to keep pace with rapid and often unexpected industry changes and ahead of the competition. A cross-functional team that included representatives from finance, actuarial, operations, client services and IT conducted an extensive selection process. This process included deep documentation review, pilot evaluations, demonstrations of required functionality and complex problem-solving, infrastructure integration capability, and the ability to meet the company's desired cost model. The company ultimately selected an adaptive policy administration system that met its requirements to: Deliver ease of use - eliminating paper and rework, while easing the burden on representatives to sell and service annuities Provide customer parity - offering Web-based capabilities in alignment with the company's focus on delivering a consistent customer experience across its business Deliver scalability, efficiency - enabling automation, while simplifying and standardizing systems across its technology stack Offer desired functionality - supporting Fidelity's product configuration / rules management philosophy, focus on customer service and technology upgrade requirements Meet cost requirements - including implementation, professional services and licenses fees and ongoing maintenance Deliver upon business requirements - enabling the ability to drive time to market for new products and flexibility to make changes Best Practices for Addressing Implementation Challenges Based upon lessons learned during the company's implementation, Vancheri advised carriers to evaluate staffing capabilities and cultural impacts, review business requirements to avoid rebuilding legacy processes, factor in dependent systems, and review policies and practices to secure customer data. His formula for success: upfront planning + clear requirements = precision execution. Achieving a Return on Investment Vancheri said the decision to replace their legacy policy administration system and deploy a modern, rules-based system--before the economic downturn occurred--has been integral in helping the company adapt to shifting market conditions, while enabling growth in its direct channel sales of variable annuities. Since deploying its new policy admin system, the company has reduced its average time to market for new products from 12-15 months to 4.5 months. The company has since migrated its other products to the new system and retired its legacy system, significantly decreasing its overall product development cycle. From a processing standpoint Vancheri noted the company has achieved gains in automation, information, and ease of use, resulting in improved real-time data edits, controls for better quality, and tax handling capability. Plus, with by having only one platform to manage, the company has simplified its IT environment and is well positioned to deliver system enhancements for greater efficiencies. Commitment to Continuing the Investment In the short and longer term future Vancheri said the company plans to enhance business functionality to support money movement, wire automation, divorce processing on payout contracts and cost-based tracking improvements. It also plans to continue system upgrades to remain current as well as focus on further reducing cycle time, driving down maintenance costs, and integrating with other products. Helen Pitts is senior product marketing manager for Oracle Insurance focused on life/annuities and enterprise document automation.

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• USDM and Oracle Offer a New Part 11 Compliant Solution for Life Sciences

  - by Michael Snow

  Guest post today provided by Oracle partner, USDM  Regulated Content in WebCenterUSDM and Oracle offer a new Part 11 compliant solution for Life Sciences (White Paper) Life science customers now have the ability to take advantage of all of the benefits of Oracle’s WebCenter Content, a global leader in Enterprise Content Management.   For the past year, USDM has been developing best practice compliance solutions to meet regulated content management requirements for 21 CFR Part 11 in WebCenter Content. USDM has been an expert in ECM for life sciences since 1999 and in 2011, certified that WebCenter was a 21CFR Part 11 compliant content management platform (White Paper).  In addition, USDM has built Validation Accelerators Packs for WebCenter to enable life science organizations to quickly and cost effectively validate this world class solution.With the Part 11 certification, Oracle’s WebCenter now provides regulated life science organizations  the ability to manage REGULATORY content in WebCenter, as well as the ability to take advantage of ALL of the additional functionality of WebCenter, including  a complete, open, and integrated portfolio of portal, web experience management, content management and social networking technology.  Here are a few screen shot examples of Part 11 functionality included in the product: E-Sign, E-Sign Rendor, Meta Data History, Audit Trail Report, and Access Reporting. Gone are the days that life science companies have to spend millions of dollars a year to implement, maintain, and validate ECM systems that no longer meet the ever changing business and regulatory requirements.  Life science companies now have the ability to use WebCenter Content, an ECM system with a substantially lower cost of ownership and unsurpassed functionality.Oracle has been #1 in life sciences because of their ability to develop cost effective, easy-to-use, scalable solutions which help increase insight and efficiency to drive growth for their customers.  Adding a world class ECM solution to this product portfolio allows life science organizations the chance to get rid of costly ECM systems that no longer meet their needs and use WebCenter, part of the Oracle Fusion Technology stack, with their other leading enterprise applications.USDM provides:•    Expertise in Life Science ECM Business Processes•    Prebuilt Life Science Configuration in WebCenter •    Validation Accelerator Packs for WebCenterUSDM is very proud to support Oracle’s expanding commitment to Life Sciences…. Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} For more information please contact:  [email protected] Oracle will be exhibiting at DIA 2012 in Philadelphia on June 25-27. Stop by our booth (#2825) to learn more about the advantages of a centralized ECM strategy and see the Oracle WebCenter Content solution, our 21 CFR Part 11 compliant content management platform.

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• The Future of Life Assurance Conference Recap

  - by [email protected]

  I recently wrote about the Life Insurance Conference held in Washington, DC last month. This week I was both an attendee and guest speaker the 13th Annual Future of Life Assurance Conference held at The Guoman Tower in London, UK. It's amazing that these two conferences were held on opposition sides of the Atlantic Ocean and addressed many of the same session topics and themes. Insurance is certainly a global industry! This year's conference was attended by many of the leading carriers and CEOs in the UK and across Europe.The sessions included a strong lineup of keynote speakers and panel discussions from carriers such as Legal & General, Skandia, Aviva, Standard Life, Friends Provident, LV=, Zurich UK, Barclays and Scottish Life. Sessions topics addressed a variety of business and regulatory issues including: Ensuring a profitable future Key priorities in regulation The future of advice The impact of the RDR on distribution Bancassurance Gaining control of the customer relationship Revitalizing product offerings In addition, Oracle speakers (Glenn Lottering and myself) led specific sessions on gearing up for Solvency II and speeding product development through adaptive rules-based systems. The main themes that played throughout many of the sessions included: change is here, focusing on customers, the current economic crisis has been challenging and the industry needs to get back to the basics and simplify - simplify - simplify. Additionally, it is clear that the UK Life & Pension markets will be going through some major changes as new RDR regulation related to advisor fees and commission and automatic enrollment are rolled out in 2012 Roger A.Soppe, CLU, LUTCF, is the Senior Director of Insurance Strategy, Oracle Insurance.

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• American Modern Insurance Group recognized at 2010 INN VIP Best Practices Awards

  - by [email protected]

  Below: Helen Pitts (right), Oracle Insurance, congratulates Bruce Weisgerber, Munich Re, as he accepts a VIP Best Practices Award on behalf of American Modern Insurance Group.     Oracle Insurance Senior Product Marketing Manager Helen Pitts is attending the 2010 ACORD LOMA Insurance Forum this week at the Mandalay Bay Resort in Las Vegas, Nevada, and will be providing updates from the show floor. This is one of my favorite seasons of the year--insurance trade show season. It is a time to reconnect with peers, visit with partners, make new industry connections, and celebrate our customers' achievements. It's especially meaningful when we can share the experience of having one of our Oracle Insurance customers recognized for being an innovator in its business and in the industry. Congratulations to American Modern Insurance Group, part of the Munich Re Group. American Modern earned an Insurance Networking News (INN) 2010 VIP Best Practice Award yesterday evening during the 2010 ACORD LOMA Insurance Forum. The award recognizes an insurer's best practice for use of a specific technology and the role, if feasible, that ACORD data standards played as a part of their business and technology. American Modern received an Honorable Mention for leveraging the Oracle Documaker enterprise document automation solution to: Improve the quality of communications with customers in high value, high-touch lines of business Convert thousands of page elements or "forms" from their previous system, with near pixel-perfect accuracy Increase efficiency and reusability by storing all document elements (fonts, logos, approved wording, etc.) in one place Issue on-demand documents, such as address changes or policy transactions to multiple recipients at once Consolidate all customer communications onto a single platform Gain the ability to send documents to multiple recipients at once, further improving efficiency Empower agents to produce documents in real time via the Web, such as quotes, applications and policy documents, improving carrier-agent relationships Munich Re's Bruce Weisgerber accepted the award on behalf of American Modern from Lloyd Chumbly, vice president of standards at ACORD. In a press release issued after the ceremony Chumbly noted, "This award embodies a philosophy of efficiency--working smarter with standards, these insurers represent the 'best of the best' as chosen by a body of seasoned insurance industry professionals." We couldn't agree with you more, Lloyd. Congratulations again to American Modern on your continued innovation and success. You're definitely a VIP in our book! To learn more about how American Modern is putting its enterprise document automation strategy into practice, click here to read a case study. Helen Pitts is senior product marketing manager for Oracle Insurance.

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• Software Life-cycle of Hacking

  - by David Kaczynski

  At my local university, there is a small student computing club of about 20 students. The club has several small teams with specific areas of focus, such as mobile development, robotics, game development, and hacking / security. I am introducing some basic agile development concepts to a couple of the teams, such as user stories, estimating complexity of tasks, and continuous integration for version control and automated builds/testing. I am familiar with some basic development life-cycles, such as waterfall, spiral, RUP, agile, etc., but I am wondering if there is such a thing as a software development life-cycle for hacking / breaching security. Surely, hackers are writing computer code, but what is the life-cycle of that code? I don't think that they would be too concerned with maintenance, as once the breach has been found and patched, the code that exploited that breach is useless. I imagine the life-cycle would be something like: Find gap in security Exploit gap in security Procure payload Utilize payload I propose the following questions: What kind of formal definitions (if any) are there for the development life-cycle of software when the purpose of the product is to breach security?

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• Insurance Outlook: Just Right of Center

  - by Chuck Johnston Admin

  On Tuesday June 21st, PwC lead a session at the International Insurance Society meeting in Toronto focused on the opportunity in insurance.  The scenarios focusing on globalization, regulation and new areas of insurance opportunity were well defined and thought provoking, but the most interesting part of the session was the audience participation. PwC used a favorite strategic planning tool of mine, scenario planning, to highlight the important financial, political, social and technological dimensions that impact the insurance industry. Using wireless polling keypads, the audience was able to participate in scoring a range of possibilities across each dimension using a 1 to 5 ranking; 1 being generally negative or highly pessimistic scenarios and 5 being very positive or more confident scenarios. The results were then displayed on a screen with a line or "center" in the middle. "Left of center" was defined as being highly cautious and conservative, while "right of center" was defined as a more optimistic outlook for the industry's future. This session was attended by insurance carriers' senior leadership, leading insurance academics, senior regulators, and the occasional insurance technology executive. In general, the average answer fell just right of center, i.e. a little more positive or optimistic than center. Three years ago, after the 2008 financial crisis, I suspect the answers would have skewed more sharply to the left of center. This sense that things are generally getting better for insurers and that there is the potential for positive change pervaded the conference. There is still caution and concern around economic factors, regulation (especially the potential pitfalls of regulatory convergence with banking) and talent management, but in general, the industry outlook is more positive than it's been in several years. Chuck Johnston is vice president of industry strategy, Oracle Insurance. 

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• Does programming knowledge have a half-life?

  - by Gary Rowe

  In answering this question, I asserted that programming knowledge has a half-life of about 18 months. In physics, we have radioactive decay which is the process by which a radioactive element transforms into something less energetic. The half-life is the measure of how long it takes for this process to result in only half of the material to remain. A parallel concept might be that over time our programming knowledge ceases to be the current idiom and eventually becomes irrelevant. Noting that a half-life is asymptotic (so some knowledge will always be relevant), what are your thoughts on this? Is 18 months a good estimate? Is it even the case? Does it apply to design patterns, but over a longer period? What are the inherent advantages/disadvantages of this half-life? Update Just found this question which covers the material fairly well: "Half of everything you know will be obsolete in 18-24 months" = ( True, or False? )

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• Oracle is #1 in Life Sciences!

  - by Michael Snow

  Guest post today by: John Klinke, Senior Principal Product Manager, Oracle WebCenter Content 12.00 Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Calibri","sans-serif"; mso-fareast-font-family:Calibri; mso-bidi-font-family:"Times New Roman";} Based on the announcement last week at EMC World about Documentum for Life Sciences, it looks like EMC is starting to have regrets about pulling out of the life sciences space over the last few years. Certainly their content management customers and partners in life sciences have noticed their retreat. Many of them are now talking to us about WebCenter Content since they’ve seen the writing on the wall regarding Documentum’s decline, including falling revenue, shrinking investment, departure of key executives, and EMC’s auditing of existing customers. While EMC has been neglecting the life sciences industry over the last few years, Oracle has been increasing its investment and commitment by providing best-of-breed solutions to enable pharmaceutical, medical device, biotech and CRO companies to improve productivity and drive innovation. As a result, according to IDC Health Insights, Oracle is #1 in life sciences. From research and development through clinical development and manufacturing to sales and marketing, Oracle provides the solutions that life sciences companies depend on to accelerate R&D, expedite clinical trials, and speed time to market. Specifically for Oracle WebCenter, our life sciences business is booming thanks to our comprehensive offerings led by Oracle WebCenter Content, our 21 CFR Part 11 compliant enterprise content management platform. Unlike Documentum, WebCenter Content is all about keeping the cost of ownership low - through simplicity, flexibility, and out-of-the-box integrations. WebCenter Content is a single, comprehensive ECM platform that can handle all your content management needs, from controlled documents to digital asset management, records management and document imaging and capture. And it is much more flexible, letting you do configuration changes instead of customizations to meet your business needs. It also saves you money by being pre-integrated with the rest of the Oracle Fusion Middleware technology stack and with leading enterprise applications like Siebel (including Siebel CTMS), Primavera, E-Business Suite, JD Edwards and PeopleSoft. So if you think EMC’s announcement last week was too little and too late, I’m happy to report that Oracle is here to help. Back in October, we announced our Move Off Documentum offer, which provides a 100% trade-in credit for your Documentum licenses when you purchase Oracle WebCenter, and the good news is, this offer is still available for a limited time. So stop maintaining Documentum and start innovating with Oracle WebCenter. For more details see www.oracle.com/moveoff/documentum.

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• Oracle Announces Oracle Insurance Policy Administration for Life and Annuity 9.4

  - by helen.pitts(at)oracle.com

  Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Today's global insurers require the ability to provide higher levels of service and quickly bring to market life insurance and annuity products that not only help them stand out from the competition, but also stay current with local legislation. To succeed, they require agile and flexible core systems that enable them to meet the unique localization requirements of the markets in which they operate, whether in North America, Asia Pacific or the Pan-European Region. The release of Oracle Insurance Policy Administration for Life and Annuity 9.4, announced today, helps insurers meet this need with expanded international market capabilities that enable them to reduce risk and profitably compete wherever their business takes them. It offers expanded multi-language along with unit-linked product and fund processing capabilities that enable regional and global insurers to rapidly configure and deliver localized products – along with providing better service for end users through a single policy admin solution. Key enhancements include: Kanji/Kana language support, pre-defined content, and imperial date processing for the Japanese market New localization flexibility for configuring and managing international mailing addresses along with regional variations for client information Enhanced capability to calculate unit-linked pricing and valuation, in addition to market-based processing and pre-configured unit linked content Expanded role-based security and masking capability to further protect sensitive customer data Enhanced capability to restrict processing specified activities based on time of day and user role, reducing exposure to market timing risks Further capability to eliminate duplicate client records, helping to reduce underwriting risks and enhance servicing through a single view of the client "The ability to leverage a single, rules-driven policy administration system for multiple global operation centers can help insurers realize significant improvements in speed to market, customer service, compliance with regional regulations, and consolidation efforts,” noted Celent's Craig Weber, senior vice president, Insurance. “We believe such initiatives are necessary to help the industry address service and distribution imperatives." Helping our customers meet these mission-critical business imperatives is a key objective for Oracle Insurance. Active, ongoing dialogue with our customers is an important part of the process to help understand how our solutions are and can continue to help them achieve success in the marketplace. I had the opportunity to meet with several of our insurance customers at the Oracle Insurance Policy Administration Client Advisory Board meeting last week in Philadelphia, Penn. (View photos on the Oracle Insurance Facebook page.)   It was a great forum for Oracle Insurance and our clients. Discussion centered on the latest business and IT trends, with opportunities to learn more about the latest release of Oracle Insurance Policy Administration for Life and Annuity and other Oracle Insurance solutions such as data warehousing / business intelligence, while exchanging best practices for product innovation and servicing customers and sales channels. Helen Pitts is senior product marketing manager for Oracle Insurance's life and annuities solutions.

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• Oracle Extends Life Sciences Edition in New Release

  - by charles.knapp

  By Chris Kanaracus, IDG News Service Oracle (ORCL) announced the 17th version of its on-demand CRM (customer relationship management) application Wednesday and made a fresh push into pharmaceutical sales with a Life Sciences edition of the software. New features in CRM on Demand Release 17 include tools for managing sales pipelines and performing forecasts of future business; a redesigned user interface; and added language support. But one CRM industry observer flagged the Life Sciences product as a particular point of interest. Read the full article here.

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• CRM Magazine: Customer-Facing Life Sciences CRM

  - by charles.knapp

  "The Life Sciences Edition, Lye says, is unique in that to-date pharma software has been inward facing. The Oracle pharma solution, however, is a tool that can be used internally for salespeople to assess their effectiveness, but it can also be used in interacting with a physician or whoever the "customer" might be. The solution captures signatures digitally and provides tools for rapid presentation creation. "That's something I have never heard of before in terms of having the CRM product for the customer view as well as the employee view," Leary says. "When it comes to the area of pharma sales, [sales people] don't have a lot of time in front of doctors .... so this is a way to spend less time in front of the doctor and still be able to get the information and the sentiment and the story across." Read more here about Oracle CRM On Demand, Life Sciences Edition.

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• IASA Sessions on Social Networking Note Influence of Millennial Generation on Insurance Technology

  - by [email protected]

  Helen Pitts, senior product marketing manager for Oracle Insurance is blogging from the 2010 IASA Annual Conference and Business Show this week. Social networking continues to be a buzzword for many in the industry. Erin Esurance, the Geico Gecko and even Nationwide's "The World's Greatest Spokesperson in the World" all have a prominent presence in the social media world. Sessions at the 2010 IASA Annual Conference and Business Show this week in Grapevine, Texas, highlighted how the millennial generation's exploding use of social media is spurring more carriers to leverage tools like Facebook, LinkedIn and other social networks to engage prospect and customers. While panelists encouraged carriers to leverage social networking tools for marketing and communications, they expressed the need for caution and corporate governance when it comes to using the tools as a part of claims, underwriting, and human resources recruitment business practices, and interactions with producers. (A previous Oracle Insurance blog entry by my colleague Susan Keuer noted that social networking and its impact on the underwriting process was also a hot topic at the recent AHOU conference.) Speaking of the millennial generation, IASA announced a new scholarship program and awarded three scholarships during the association's conference this week. The IASA Insurance Industry Collegiate Scholarship Program awards $2,000 scholarships to students in their second or third year of college who are studying an insurance-related field at a four-year college or university. The IASA scholarship committee is co-chaired by Wendy Gibson, vice president of business development for Oracle Insurance. Gibson, a long time IASA volunteer, is completing her second term on IASA's volunteer management team as vice president of industry relations. Helen Pitts is senior product marketing manager for Oracle Insurance.

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• Software development life cycle in the industry

  - by jiewmeng

  I am taking a module called "Requirements Analysis & Design" in a local university. Common module, I'd say (on software development life cycle (SDLC) and UML). But there is a lot of things I wonder if they are actually (strictly) practiced in the industry. For example, will a domain class diagram, an not anything extra (from design class), be strictly the output from Analysis or Discovery phase? I'm sure many times you will think a bit about the technical implementation too? Else you might end up with a design class diagram later that is very different from the original domain class diagram? I also find it hard to remember what diagrams are from Initiation, Discovery, Design etc etc. Plus these phases vary from SDLC to SDLC, I believe? So I usually will create a diagram when I think will be useful. Is it the wrong way?

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