To further support insurers in the growing Japanese market, Oracle says Insurance Policy Administration for Life and Annuity 9.4 includes Kanji/Kana language support and pre-defined content as well as imperial date processing.
Version 9.4 includes new localization flexibility for configuring and managing international mailing addresses, and regional variations for client information. The solution now enables insurers to calculate unit-linked pricing and valuation, in addition to market-based processing and pre-configured unit linked content. Oracle says this enables insurers operating in international markets to rapidly configure unit-linked products and ensure accurate fund pricing and valuations for their customers.
Insurance Policy Administration for Life and Annuity 9.4 includes new features that facilitate compliance and reduce insurer risk, such as expanded role-based security and masking capability to further protect sensitive customer data, says Oracle. The solution can be configured to restrict processing of specified activities, based on time of day and user role, reducing exposure to market timing risks. Oracle says this newest version also enables insurers to eliminate duplicate records of clients, helping to reduce underwriting risks, and providing a single view of the client for improved service.
