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
