Oracle Insurance has introduced Oracle Revenue Management and Billing for Insurance which reportedly provides insurers with billing capabilities necessary to deliver streamlined, convenient billing, payment and collections processes and improve service to customers and distribution channels.
According to Oracle, its new service enables insurers to meet the market demand for multi-channel strategies and increase cross-selling abilities by providing comprehensive and consolidated billing management capabilities.
Oracle said that its Revenue Management and Billing for Insurance improves enterprise revenue management and minimises the manual back-office activities required to process bill inquiries and bill adjustments.
The company also said that the new offering offers comprehensive account current and group bill processing capabilities, web-based self-service and e-billing capabilities, supports call centre operations and incorporates built-in business process management tools to help ensuring consistent interaction with customers.
Chuck Johnston, vice president for strategy and alliances at Oracle Insurance Global Business Unit, said: Oracle Revenue Management and Billing for Insurance delivers a robust and flexible solution that helps insurers to expand and optimise use of distribution channels while supporting diverse lines of business on a single, cost-effective billing platform. As important, the solution supports delivery of universal, best-in-class service that today’s customers demand.
