MONTREAL, July 25, 2017 /CNW Telbec/ - EquiSoft, a leading global provider of digital business solutions for the insurance and wealth industries, has recently inked several deals involving the integration of the Oracle Insurance Policy Administration for Life and Annuity platform. In the last year alone, as many as five insurers in North America and the Caribbean, including one of the top 10 insurers in the world, have selected the Oracle system and EquiSoft as their lead integrator.
Oracle gets top marks in Gartner report
Oracle's platform is considered by many as the top policy administration system in the insurance industry. In the recently published Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America report, Oracle maintained its pole position for a third consecutive year. With the largest client base across all life insurance business lines using a modern system, Oracle leads the pack among thirteen North American system vendors ranked by Gartner according to their "Ability to execute" and "Completeness of vision".
A world-class system backed by a first-rate integration team
The Oracle Insurance Policy Administration for Life and Annuity system covers all the functions an insurance company needs for the back-office support of group, individual, investment-like products, life, annuities and health. Its unique architecture enables changes using business rules, which results in faster implementations, simpler customizations, easier upgrades and streamlined product development.
"The Oracle system is the only modern solution on the market that can be integrated by third parties without requiring changes to the source code," says Olivier Lafontaine, EquiSoft's Vice President, Insurance. "We believe it's the best available policy admin system because it strikes the right balance between flexibility, performance and long-term upgradability, and that's why we work exclusively with the Oracle platform."
EquiSoft is the largest and most experienced reseller and system integrator for the Oracle platform, having completed approximately 80% of all implementations worldwide to date. "The ability to successfully integrate a new digital platform is a key differentiator for both the Oracle insurance platform and EquiSoft," says Luis Romero, Founder and CEO of EquiSoft. "Great technology is not enough if it can't be successfully implemented within our clients' increasingly complex environments."
EquiSoft is well-known for its innovative technology, insurance expertise and rare ability to tackle the most intricate projects, including Oracle integrations, while ensuring low-risk implementations and providing the lowest possible cost of ownership.
Founded in 1994, EquiSoft offers advanced digital business solutions to its clients in the insurance and wealth management industries to support their growth. The firm develops and markets innovative front-end applications (InsuranceElements and WealthElements) featuring industry-leading user interfaces and state-of-the-art technology. In addition, EquiSoft is an Oracle Insurance Policy Administration integration partner for more than 20 carriers globally. To complete this unique offering, EquiSoft brings extensive experience in data migration through its subsidiary Universal Conversion Technologies (UCT). EquiSoft has a growing team of over 250 specialized resources based in the US, Canada, Latin America, South Africa and India.
For further information: José Quiroz, Marketing Advisor, 1-888-989-3141, ext. 273, mailto:[email protected]