OIPA is the only modern solution on the market that can be integrated by third parties without requiring changes to the source code. A 2016 Gartner survey recognizes OIPA as the leading policy admin solution in North America. The survey also reports that clients appreciate OIPA’s flexibility to move at their pace regarding migration paths and major system version movements. Oracle’s solution for the insurance industry features several unique selling points.
Extensive client base
Largest client base across all insurance business lines using a fully modern system.
Full insurance policy lifecycle from a single platform
OIPA is the only system that covers all the functions an insurance company needs for the back-office support of group, individual, investment-like products, life, annuities and health, including new business, producer management and compensation, policy administration, claims and reinsurance management.
Unique architecture enabling changes using business rules. Results in faster implementations, simpler customizations (e.g. in response to customer service improvements or regulatory changes), easier upgrades and streamlined product development.
All clients become fully independent after an OIPA integration, with total discretion regarding selection and implementation of front-end solutions.
Learn more about Oracle Insurance Policy Administration