Oracle Business Apps Penetrate Indian Insurance Sector

Oracle India has announced that it is witnessing strong momentum in the insurance sector in India.

Leading providers of life and non-life insurance services in India such as IFFCO TOKIO, National Insurance Company, New India Assurance Co. Ltd, Birla Sun Life Insurance , Aviva Life, and Canara HSBC Life Insurance, AEGON Religare Life Insurance, IDBI Fortis Life Insurance, have invested in Oracle Applications such as Oracle E-Business Suite Financials, Oracle PeopleSoft Human Capital Management and Oracle Siebel CRM for Insurance.

"The insurance sector in India is experiencing a thrust driven by rising disposable incomes and demand for a more customised culture and need based services. Organisations are challenged to improve business performance, introduce new products to market, optimise distribution management, and improve customer communications and satisfaction while complying with regulatory requirements," said Samir Sathe, Applications Sales Director, Financial Services Industry, Oracle India. "As competitive pressures grow, organisations are compelled to automate as many business processes as possible. Oracle's complete, end-to-end solutions are helping insurance companies meet these challenges and helping them to reduce operational costs and minimise risks."

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