Oracle Insurance has introduced Insight 7.0, an insurance-specific data warehouse and business intelligence (BI) offering, that provides easier access to information needed for critical business decisions.
The new offering introduces the concept of ‘adaptive data modeling,’ which allows business users to configure lines of business via an easy-to-use warehouse palette tool.
The insurance offering then automatically creates data warehouse elements such as line-specific database structures and extract-transform-load (ETL) processes which increases time-to-value for BI initiatives.
Oracle said that the combination of business-driven configuration, automated processing and insurance-specific processes helps insurance companies get BI projects up and running in months, rather than years.
The new Insight 7.0 provides insurance-specific, out-of-the-box data models that companies can configure to meet their specific BI needs as the application aggregates policy and claims data to give property & casualty (P&C) or general insurers a single view of the enterprise.
In addition, the offering includes prebuilt content and interfaces for six P&C lines, which allows insurers to deploy any and all P&C lines of business.
Further, to meet the demands of an increasingly global market, the newest version provides support for multiple languages and currencies.
Oracle insurance Insight 7.0 also leverages on its Business Intelligence Enterprise Edition, the offering includes Database 11g and Data Integrator Enterprise Edition 11g, which delivers Extract, Load and Transform (E-LT) architecture and eliminates the need for a separate transformation server.
