New Jersey, USA
13 Sep 2016
3 MINS READ
September 14, 2016 - Hexaware Technologies, a global provider of IT, BPO and consulting services and Platinum level member of Oracle PartnerNetwork (OPN), today announced its association with Oracle Insurance Policy Administration (OIPA), a leader in the Life Insurance solution space. The announcement highlights Hexaware's ongoing efforts to enable digital transformation of insurers by strengthening their Policy Administration, Rating, Underwriting and claims processing capabilities. The company will leverage OIPA to develop a preconfigured digital platform for Life Insurance companies. The platform will be built using composable architecture, supporting straight-through processing with a library of optimized micro-services.
Milan Bhatt, SVP & Head of Healthcare and Insurance, Hexaware Technologies said, "We are excited to combine the power of Oracle's market-leading technology platform and our accelerators for configuration, integration, testing and policy migration. We believe this approach can significantly reduce business disruption risk and the time to market for our customers."
"Many US Life insurance carriers are looking to address the millennial generation by simplifying their products and investing in agile core infrastructure. Oracle Insurance prides itself on providing a comprehensive platform for digital insurance transformation," said Srini Venkatasanthanam, VP Insurance Solutions for Oracle. "We are delighted to collaborate with Hexaware to deliver innovative solutions to help transform the insurance market."
The collaboration can increase the choice for Life Insurers to standardize core insurance processes, reduce operational costs, drive speed to market, improve customer centricity and address complex regulatory compliance issues. In addition, Hexaware is committed to delivering faster responses to new business and client expectations owing to effective channel management.
Hexaware is a leading global provider of IT, BPS and consulting services. The Company focuses on key domains such as Manufacturing, Retail, Education, Telecom, Banking, Financial Services, Capital Market, Healthcare, Insurance, Travel, Transportation and Logistics. Our business philosophy, "Your Success is Our Focus", is demonstrated through the success we can ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Application Development & Maintenance, Enterprise Solutions, Human Capital Management, Business Intelligence & Analytics, Quality Assurance and Testing Services, Remote Infrastructure Management Services and Business Process Services. Founded in 1990, Hexaware has a well-established global delivery model armed with proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to: www.hexaware.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
Oracle PartnerNetwork (OPN) is Oracle's partner program that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions. OPN offers resources to train and support specialized knowledge of Oracle's products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to be recognized and rewarded for their investment in Oracle Cloud. Partners engaging with Oracle will be able to differentiate their Oracle Cloud expertise and success with customers through the OPN Cloud program - an innovative program that complements existing OPN program levels with tiers of recognition and progressive benefits for partners working with Oracle Cloud. To find out more visit: http://www.oracle.com/partners.
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For more information contact:
Hexaware Technologies Limited
Tel: +91 (22) 6654 2682 / 83
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