MUMBAI, September 14, 2016 /PRNewswire/ --
Hexaware Technologies, a global provider of IT, BPO and consulting services and Platinum level member of Oracle PartnerNetwork (OPN), today announced its association with Oracle Insurance Policy Administration (OIPA), a leader in the Life Insurance solution space. The announcement highlights Hexaware's ongoing efforts to enable digital transformation of insurers by strengthening their Policy Administration, Rating, Underwriting and claims processing capabilities. The company will leverage OIPA to develop a preconfigured digital platform for Life Insurance companies. The platform will be built using composable architecture, supporting straight-through processing with a library of optimized micro-services.
"We are excited to combine the power of Oracle's market-leading technology platform and our accelerators for configuration, integration, testing and policy migration. We believe this approach can significantly reduce business disruption risk and the time to market for our customers," said Milan Bhatt, SVP & Head of Healthcare and Insurance, Hexaware Technologies.
"Many US Life insurance carriers are looking to address the millennial generation by simplifying their products and investing in agile core infrastructure. Oracle Insurance prides itself on providing a comprehensive platform for digital insurance transformation," said Srini Venkatasanthanam, VP Insurance Solutions for Oracle. "We are delighted to collaborate with Hexaware to deliver innovative solutions to help transform the insurance market."
The collaboration can increase the choice for Life Insurers to standardize core insurance processes, reduce operational costs, drive speed to market, improve customer centricity and address complex regulatory compliance issues. In addition, Hexaware is committed to delivering faster responses to new business and client expectations owing to effective channel management.
About Hexaware Technologies
Hexaware is a leading global provider of IT, BPS and consulting services. The Company focuses on key domains such as Manufacturing, Retail, Education, Telecom, Banking, Financial Services, Capital Market, Healthcare, Insurance, Travel, Transportation and Logistics. http://www.hexaware.com
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SOURCE Hexaware Technologies