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Policy Administration

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Marsh Selects Oracle Policy Admin, Revenue Management and Billing

Oracle Insurance applications chosen to enable Marsh to provide end-to-end policy administration and billing processes across multiple lines of business for its customers, supporting the company's strategic BPO business.

Program broker and administrator Marsh U.S. Consumer (a subsidiary of New York-based Marsh & McClellan Companies) has selected Oracle Insurance Policy Administration and Oracle Financial Services Revenue Management and Billing for Insurance to help accelerate time-to-market, increase customer data visibility and enable product and market flexibility for new business process outsourcing (BPO) offerings, according to an Oracle (Redwood Shores, Calif.) press release. Oracle characterizes Marsh U.S. Consumer's selection of its products as a partnership between the two companies and reports that Marsh will serve as a "key third party administrator," offering Oracle clients more options to improve efficiency and drive success.

Marsh U.S. Consumer chose Oracle to support continued growth in its BPO business, which the Oracle source says provides comprehensive private-label back-office and marketing support services to leading national insurance carriers, financial institutions and other service businesses. The Oracle Insurance applications will enable Marsh to provide end-to-end policy administration and billing processes across multiple lines of business for its customers, the vendor asserts.

"To support continued growth across our U.S. business process outsourcing segment, we required a strategic technology partner with proven success in the insurance industry," comments Rob McGinnis, CEO, Marsh U.S. Consumer. "Oracle Insurance provided us with a robust, end-to-end solution that will help us improve offerings to our customers. It also will give us increased agility to respond to changing market demands and swiftly capitalize on opportunities for strategic growth in our BPO sector."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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