In today's turbulent markets, financial institutions require a better understanding of their risk-return, while strengthening competitive advantage and enhancing long-term customer value. Oracle Financial Services Analytical Applications (OFSAA) enable financial institutions to measure and meet risk-adjusted performance objectives, cultivate a risk management culture through transparency, lower the costs of compliance and regulation, and improve insight into customer behavior.
OFSAA uses industry-leading analytical methods, shared data models, and applications architecture to enable integrated risk management, performance management, customer insight, and compliance management. OFSAA actively incorporates risk into decision making, enables to achieve a consistent view of performance, promotes a transparent risk management culture, and provides pervasive intelligence.
Oracle Financial Services Analytical Applications delivers a comprehensive, integrated suite of financial services analytical applications for both banking and insurance domains.
The following figure depicts the various application packs that are available across the OFSAA Banking and Insurance domains.
Figure 1: OFSAA Application Packs
Topics:
· Oracle Financial Services Analytical Applications Infrastructure (OFS AAI)
· About Oracle Insurance Accounting Analyzer Application Pack
· Installation and Upgrade Scenarios
Oracle Financial Services Analytical Applications Infrastructure (OFS AAI) powers the Oracle Financial Services Analytical Applications family of products to perform the processing, categorizing, selection, and manipulation of data and information required to analyze, understand and report on specific performance, risk, compliance, and customer insight issues by providing a strong foundation for the entire family of Oracle Financial Services Analytical Applications across the domains of Risk, Performance, Compliance and Customer Insight.
Topics:
· Components of OFSAA Infrastructure
· OFSAA Infrastructure High Availability
The OFSAA Infrastructure includes frameworks that operate on and with the Oracle Financial Services Analytical Applications Data Model and forms the array of components within the Infrastructure.
The OFSAA Infrastructure components or frameworks are installed as two layers; primarily, the metadata server and Infrastructure services run on one layer, while the UI and presentation logic run on the other. The UI and presentation layer is deployed on any of the supported J2EE Servers.
The following figure depicts the various frameworks and capabilities that make up the OFSAA Infrastructure.
Figure 2: Components of OFSAAI
The current release of the OFSAA Infrastructure supports only the Single Instance installation for the Infrastructure components. However, the High Availability (HA) for the Database Server and (or) the Web application server clustering and deployment is supported in this release.
This release supports the Active-Passive model of implementation for OFSAAI components. For more information, see the Oracle Financial Services Analytical Applications Configuration for High Availability Best Practices Guide.
The following figure illustrates the deployment topology of OFSAA application packs.
Figure 3: Logical Architecture Implemented for OFSAA Application Packs
Oracle Insurance Accounting Analyzer Application Pack Release 8.1.1.0.0 includes the following product:
· Oracle Insurance Accounting Analyzer: IFRS17 is an international norm that supersedes the current reporting standards, IFRS 4. The new standards provide the users of financial statements with a new perspective of the financial accounts of insurance companies. IFRS 17 requires Insurance companies to have consistent accounting standards for the Insurance contracts which ensures timely recognition of losses in the book of accounts. Insurance companies must identify and report the Fulfillment Cash Flows and Contractual Service Margin at every reporting date, based on the current market conditions. Oracle Insurance Accounting Analyzer application helps the organizations in arriving at the insurance obligations (Insurance Contract liabilities reported on the balance sheet), using different methodologies for a set of portfolios, by assessing the net liability for every insurance contract.
To install an Oracle Insurance Accounting Analyzer application pack 8.1.1.0.0 instance, users and administrators must download this installer. The following figure displays the order of procedures you will need to follow to install a new Oracle Insurance Accounting Analyzer Pack 8.1.1.0.0 instance.
NOTE:
This installer supports both upgrade (from Oracle Insurance Accounting Analyzer (IIA) 8.1.0.1.0) and fresh installation of Oracle Insurance Accounting Analyzer 8.1.1.0.0.
Figure 4: Installation Flow
The Oracle Financial Services Analytical Applications Infrastructure Extension (OFS AAIE) Pack adds a set of new advanced features for the 8.1.1.0.0 Release across OFSAA applications. This pack can be installed on an OFSAA instance having one or more OFSAA application packs.
The Oracle Financial Services Analytical Applications Infrastructure Extension Pack includes the following advanced features and functionalities:
· Distributed Processing Capabilities
· Analytic Pipeline and Process models
· Attribution Analysis
· Content Management Interoperability Services
NOTE:
The pack is enabled by the procurement of an additional license. For more information, see the OFS AAIE Release Notes and Installation Guide on the OHC.
Release 8.1.1.0.0 of Oracle Insurance Accounting Analyzer supports various installation and upgrade scenarios. A high-level overview of the possible scenarios is provided in the following table. Detailed procedural steps are provided in the succeeding sections of this document.
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Scenario |
Installation and Upgrade Instructions |
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Installing Release 8.1.1.0.0 application pack for the first time (new installation). |
1. Prepare for the Installation. 2. Execute the Schema Creator Utility. 3. Install the Oracle Insurance Accounting Analyzer Application Pack. |
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Install a new application pack on an Existing OFSAA Instance You have already installed an application pack from release 8.1.1.0.0 and now you want to install another application pack from Release 8.1.1.0.0. Example: Oracle Insurance Accounting Analyzer Pack is already installed and now you want to install OFS OIDF. |
1. Run the schema creator utility ONLY for the new pack. 2. Update the PACK.xml file for the newly licensed pack. 3. Update the Silent.props file of the newly licensed pack. 4. Trigger the Release 8.1.1.0.0 installation. |
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Upgrade from Release v8.1.0.1.0 to Release v8.1.1.0.0 |
1. If you are upgrading the application pack from a release before Release 8.1.0.0.0, then upgrade to Release v8.1.0.0.0. 2. Update the Silent.props file. 3. Run the Environment Check Utility tool and ensure that you install the hardware and software requirements as per the OFS Analytical Applications Technology Matrix. See the OFSAA Environment Check Utility Guide for detailed steps. 4. Trigger the Release 8.1.1.0.0 installation. |
This table lists the applications or app-combinations that must not be installed on a single infodom.
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If you are installing |
Do not Install the Listed Application in the Same Environment |
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OFS_IIA_PACK |
None |