OIPA Performance Report

Introduction

Oracle Insurance Policy Administration (OIPA) System v11 is the new release of Oracle’s suite of products for the Insurance Industry that has the central role in directing the life cycle of a policy as defined for various products. The OIPA system has a crucial role in automating the policy administration, using defined business work flows in the product definitions. The life cycle progression and automated rule execution is achieved in OIPA by means of the Cycle sub-system.

OIPA Cycle is a powerful offline, automated sub-system built into OIPA to analyse each policy, identify the life cycle actions to be triggered and execute such actions. For example, such actions could be trigger a premium due task (and its associated sub-tasks if so defined), or execute a fund balancing rule for ULIP. Oracle Insurance Policy Administration uses a carrier configured set of products (plans) and executes business events to move policies through their natural life cycle. It sets up policies in a set of states that have been identified as representative set of a large enterprise carrier implementing the full range of products OIPA is capable of handling.

OIPA Web is the user interface for carriers to provide for their employees / analysts and other operators to the policy system. This channel is expected to service a lower volume of activity than Cycle, however, both are designed to scale to any size necessary.

The new features introduced in the release are:

• New UI using Oracle jet technology.
• Configurable widgets for various categories.

This document presents the benchmarking results of OIPA v11. The results are used by Oracle to further analyze and prepare recommendations for standard OIPA configuration and how these can be determined, presented in the below sections.