Digital business solutions provider for insurance and wealth industries Equisoft recently became the world's first system integrator specialised on the latest certifiable version (version 10) of the Oracle Insurance Policy Administration (OIPA) for Life and Annuity platform.
Having completed many OIPA implementations worldwide to date for Oracle, Equisoft is an experienced reseller and integrator for the Oracle insurance platform, which covers the range of functions an insurance company needs for the back-office support of group, individual, investment-like products, life, annuities and health.
The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day.
Achieving this new level of certification demonstrates Equisoft's continued commitment to remain at the forefront of Oracle Policy Administration System integrations.
According to Srini Venkat, Oracle global insurance and healthcare solutions and sales support vice president, "Equisoft not only has an in-depth knowledge of the platform, but they also have developed an extensive toolset of OIPA accelerators over the years for illustrations, electronic application, as well as commissions and group templates.
“This know-how really helps to speed up the integration and reduce the cost for insurers of all sizes."
An industry facing digital transformation challenges
Many life insurance companies are considering or undertaking digital transformations to compete more successfully in today's rapidly evolving marketplace.
Oracle and Equisoft understand the importance of these profound changes and want insurers to maximise return on investment while ensuring a smooth transition.
Equisoft is currently working with 20 insurers on Oracle Insurance Policy Administration integration projects involving implementation and ongoing support in 11 countries and in three languages, the majority of which are version 10.
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.
In addition, Equisoft is an Oracle Insurance Policy Administration integration partner for some 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 specialised resources based in the US, Canada, Latin America, South Africa and India.