Continue reading " Social CRM in Insurance: a Deeper Dive... " »
Guest post by
Kunal Girishrao Hedau, Senior Associate Consultant, Infosys
It has been for a while now that the Insurance Companies have identified the "Online channel" as one of the dominant lead generation channel as a measure of impacting overall sales. The dominance factor however has not been realized to the level that it should be.
Since the acquisition of Skywire owned Document Automation Solution - Documaker, Oracle corp. has been trying hard to enrich the product suite in order to make it a more comprehensive and palpable solution for Insurance Carriers.
Recently Oracle introduced a new and improved version of Oracle Documaker. In the latest release, versioned 12, Oracle has introduced features that are more enterprise intensive and bridge some gaps from the earlier version of the product.
Continue reading " Oracle Documaker 12 - A feature rich product on the horizon " »
Guest post by
Chander Mohan Bhargava, Lead Consultant, Oracle Practice, Enterprise Solutions, Infosys Technologies Ltd.
In Insurance Company, Billing system retrieves policy and billing details from policy administration system and handles the following transactions from a systems perspective:
Continue reading " Insurance Billing trends and the way forward " »
Guest post by
Ranjan Kumar Singh, Senior Associate Consultant, Oracle Practice, Enterprise Solutions, Infosys Technologies Ltd.
Solvency is a measure of the risk an insurer faces of claims that it cannot absorb. Solvency has been a primary measure to gauge the health of an insurance company. Regulators in various geographies protect the policy holder's interests through Solvency norms and guidelines. It is a basic measure of how financially sound an insurer is, but this simple calculation that does not take into account the types of business the company does and the Risk that it is exposed to.
Social CRM has been one of the top trends that have been witnessed in the CRM space in recent times. As per a study by Gartner Research, by 2013 the total investment in Social CRM space would exponentially increase to around 1 billion dollars, about 8% of the total CRM spending. In Social CRM the customer sits in center of the CRM processes and is an active influencer in business decisions. The customer and organization constantly interact and collaborate in order improve the customer experience. In return, the customer becomes an advocate of the organization highlighting the work done by the company. Social CRM is not just about bringing the customer in the center of the processes but it requires a change in the strategic outlook of the organization.
Guest post by
Nobendu Roy, Senior Project Manager, Oracle Practice, Enterprise Solutions, Infosys Technologies Ltd.
We know that LSH is a clinical data integration platform, but it can also be used as a computing environment that gives tremendous power and flexibility to a PLSQL programmer to extend the functionalities.
Continue reading " The Power Of Oracle Life Sciences Data Hub (LSH) " »
Many analysis has been done and many artifacts written about the success of the ERP projects but the question which primarily remains unanswered and less explored is who holds the key to success of the program.
Continue reading " Who holds the key to success in ERP led business transformation programs " »
What is MES ?
ERP (Enterprise Resource Planning) acts as central repository for all the data transacted, but there is no way of controlling the operations or passing the information between plant control system & ERP in integrated manner.
MES (Manufacturing execution systems) help in detailing the process and also controlling the operations through the systems. MES uses the data and provide results on the plant activities in minimal time. MES Collects the data from plant system, store them, and the output are used to control the functions in enhancing productivity and process on the whole.
MES for Oracle Process Manufacturing (OPM):
MES for Process Manufacturing adds new batch execution functionality and increases usability for manufacturing operators.
Guest post by
Joydeep Dey, Associate Consultant - Oracle Insurance COE, Oracle Practice, Enterprise Solutions, Infosys Technologies Ltd.
Underwriting is the process of examining and then accepting or rejecting Insurable risk at an appropriate premium. The premium amount depends on type of risk being covered, historical data, actuarial calculations and local regulations. If the insurance company is too conservative in choosing the risk or demands high price for risk coverage then they lose to competition whereas if they are too aggressive to acquire market share or become liberal in risk pricing they may end up paying higher claims. Hence underwriting is a specialized task which is done by a chosen few in each insurance company.
Continue reading " Pain points in underwriting practices and way forward " »
Guest post by
Ranjan Kumar Singh, Senior Associate Consultant - Oracle Insurance COE, Oracle Practice, Enterprise Solutions, Infosys Technologies Ltd.
In the earlier blog on "Pain Points" of Insurance Industry, we discussed the key challenges faced by Insurers in the present business environment. In order to mitigate these challenges, Insurance industry is now trying to leverage information technology and web enablement to create sustainable value and maintain the rate of growth. There is also a need to integrate emerging technologies with existing products and processes in order to stay competitive.
Continue reading " Use of IT to mitigate insurance pain points " »
In today's scenario, organizations are facing many problems in managing content with nearly 80% of the unstructured information, lots of content duplication and spending around 15-20% of the operating revenue in fixing problems that arouse from inappropriate data.
To maximize content management efficiency, improve security and reduce costs, organizations need a comprehensive enterprise content management solution that fits easily with their business processes. Oracle Enterprise Content Management Suite 11g meets these demands delivering the high performance and scalability required to face the challenging enterprise content management environments.
Continue reading " Is IT an 'enabler' or 'creator' of Business Value? " »
Insurance is one of the most paper-intensive industries, generating volumes of documents that require constant modifications for business and regulatory needs. As the customer base of an insurance/reinsurance company increase, the document generation and archiving can become one of the bottleneck processes for the company.
Continue reading " "Document Avalanche" in Insurance Sector " »
There are many ways to achieve Leaner ERP implementation, and I have discussed some of the strategic levers for it in my previous blogs Go Lean (Part 2) and Go Lean (Part 1) like senior management and executive sponsorship, robust decision making framework, effective change management approach, upfront planning for middleware and reporting platforms, solution design workshops, selection of appropriate edge products and leveraging localizations. However, there are many tactical and operational levers also available for enterprises to adopt, which are primarily part of implementation execution cycle. I am discussing here some of these levers and best practices to minimize customizations:
Details of the successful SOA implementation using Oracle Fusion middleware for a RHIO.
Health Information Exchange (HIE) is a way to electronically make personal and medical information securely available among doctors, hospitals and other health care providers when it is needed for care. A secure electronic HIE allows patients to make sure their health information is available when they need it while seeking medical care or treatment. HIE enables authorized physicians and other health care providers to share a patient's clinical results across institutional boundaries.
Client utilizes a healthcare industry standard, which is based on XML, that could be easily consumed by other systems. Client also wanted to expose internal services encapsulating the data repository to external world so as to be easily consumed by other systems.
Continue reading " Leveraging Oracle SOA For A Regional Health Information Organization (RHIO) " »
