Oracle Announces Launch of Oracle Insurance

    SAN FRANCISCO, Sept. 23 /PRNewswire-FirstCall/ -- Oracle OpenWorld --       News Facts      Oracle Insurance      *   In response to global insurance industry customer needs, Oracle          today launched Oracle Insurance          (http://www.oracle.com/industries/financial_services/insurance.html),          which serves more than 2,000 insurance customers worldwide.      *   Oracle Insurance helps insurers improve business agility through an          end-to-end software offering that manages the entire enterprise --          from technical infrastructure to core insurance processing.      *   With Oracle Insurance products, insurers can get products to market          faster, reduce operational costs, strengthen customer and          distributor relationships, and gain full visibility into their          business operations.      *   Oracle Insurance offers customers added flexibility to address          critical business issues by delivering applications as part of an          integrated solution or as a best-in- class offering.      *   Oracle Insurance leverages a broad standards-based product set that          spans Oracle(R) Database, Oracle Fusion Middleware, Oracle          Enterprise Resource Planning (ERP), Customer Relationship Management          (CRM) and Enterprise Performance Management applications (EPM), as          well as industry-specific offerings from Oracle's AdminServer,          Skywire Software and Siebel product lines.      *   Oracle Insurance builds on Oracle's proven track record in the          sector -- with 20 of the top 20 Fortune 500 insurers using Oracle          applications.  

Oracle Application Integration Architecture (AIA) Foundation Pack for Insurance

     *   Underscoring its focus on the insurance market, Oracle introduced          Oracle Application Integration Architecture (AIA) Foundation Pack          for Insurance (http://tinyurl.com/4urr9g), which enables insurance          companies to accelerate application integration between Siebel CRM          Claims and Oracle's PeopleSoft Enterprise or Oracle E-Business Suite          Financials to streamline payments and reserve management.      *   Oracle AIA Foundation Pack for Insurance helps insurers to unify          their Oracle and non-Oracle application portfolio, including new and          existing systems; minimize integration costs and risks; and quickly          adapt business processes.        Supporting Quotes      *   The creation of Oracle Insurance demonstrates Oracle's commitment to          meeting the insurance market's specialized needs," said Jeff Fabry,          Chief Information Officer and Chief Security Officer, Island          Insurance.  "The company's dedicated focus on insurance, extensive          experience in providing innovative solutions to the industry, and          unmatched development and support resources set the stage for          innovation that enables insurers to achieve new levels of agility,          performance and customer service."      *   "Oracle's expanded focus on the insurance industry is a very          positive sign for insurers and their CIOs.  The elevated presence of          IT leader Oracle in the insurance sector -- and its commitment to          delivering an integrated suite of offerings that help insurers          improve efficiency, time to market and customer service . will spark          even greater innovation across our industry," said Piyush Singh,          Chief Information Officer, Great American Insurance Company.      *   "We are excited to see Oracle creating a new business unit focused          on the insurance industry.  Oracle's vision of advancing an          integrated suite of applications that enables insurance          organizations to seamlessly link business and industry-specific          applications will help insurers to simplify IT infrastructures and          deliver greater value to customers," said Parthasarathy "Partha"          Srinivasa, Chief Technology Officer and Vice President, Applications          Development, Farmers Insurance Group.      *   "Insurance companies have been a key part of Oracle's customer base          for many years.  We have launched Oracle Insurance in response to          our customers' needs for end-to-end solutions that deliver value          across the insurance enterprise," said Rick Connors, Senior Vice          President and General Manager, Oracle Insurance.  "Oracle Insurance          has the industry-leading applications and expertise that will help          customers shift from legacy systems to modern technology and          profitably grow their businesses."        Supporting Resources      *   Oracle Insurance (http://www.oracle.com/industries/financial_services/insurance.html) 

* Oracle Application Integration Architecture (http://tinyurl.com/5hhwqv)

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