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Introducing Oracle Insurance

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1 Introducing Oracle Insurance
Chuck Johnston Vice President Strategy and Alliances Insurance Global Business Unit

2 The following is intended to outline our general product direction
The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.

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4 20 of the top 20 Fortune 500 insurers use Oracle applications
Oracle Insurance Oracle Insurance provides a complete, modern insurance software solution, from technical and business infrastructure to core insurance processing. Includes sales, service, administration, and financials within core insurance processing Supports more than 2,000 insurance customers today Delivers next-generation, open, and standards-based software Enables business transformation Supported by $2 billion R&D budget Boasts deep insurance domain expertise 20 of the top 20 Fortune 500 insurers use Oracle applications

5 Why Insurance? Leading Business Trends
Need for new product speed to market Achieve compliance with regulatory requirements Improve customer communications Optimize and innovate distribution management System consolidation / legacy migrations Acquisition opportunities

6 <Insert Picture Here>
Oracle Insurance – Product Vision & Strategy

7 Oracle Insurance Vision and Strategy
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8 Oracle Insurance Solution Footprint
Oracle Insurance Applications Oracle Services: Insurance Professional Service Team, Education, 24 x 7 Support Integration & Collaboration: Insurance Application Integration and Architecture, Business Process Bus Insurance CRM Insurance Rating & Illustration New Business & Underwriting Desktop Policy Admin Insurance Billing Insurance Claims ERP Customer Communication Management: Applications, Industry Forms, Policy Issuance, Client Communications, & Claims Correspondence Insurance Data Exchange: Data Exchange between Carriers, Distributors, & Service Providers General Agency: BGA Office Automation Platform Solutions: MDM | Insurance BI Applications | Compliance | Enterprise Risk & Performance Management Technology Foundation: Database, Fusion, BPEL, Security, etc

9 Oracle Insurance Policy Administration
Product Suite: PAS v9.0 IllustrationServer v2.0 NBUW v2.0 UVServer v2.0 Rule Palette v1.+ Architectural Considerations: Leverage system constructs Multi-language, Multi-currency Multi-tenant, regional capabilities Multiple technology stacks - Server based - Web 2.0 technologies - Standards based

10 Oracle Insurance Rating & Underwriting
Rating & UW Oracle Insurance Rating & Underwriting Easy-to-use, Web-based rating, rules and underwriting system that allows business users to perform elaborate and complex rating and underwriting logic with unmatched accuracy Key Features Rules-based and designed for business users Business analyst can create, deploy and manage complex rates, which improve speed-to-market Cut IT delays and free IT resources Web-based, built on SOA Flexible to integrate with legacy policy admin systems 3rd party call outs (MVR, Clue, etc) Support for a single rating engine Ensure rating accuracy by consolidating systems Reduce inefficiencies by maintaining and testing rates in multiple systems Versioning Facilitate multiple product versions Reduce time in creating new products Differentiators Flexibility to support for all major operating systems, databases and platforms Line of business agnostic Rules and rating engine all in one Open, standards-based architecture allows easy integration into existing systems

11 Oracle Documaker Customer Communication Management Powerful publishing platform that automates enterprise-wide design, production, and multi-channel distribution of a broad array of customer-facing insurance documents Key Features Robust design environment Allows tight integration between content, data and logic Fully-customizable forms Conversion tools Preserve legacy investments Web-based solution Users can select templates and generate ad-hoc documents Lightweight, cost-efficient, service-centric approach Ease of use at the business user’s level Pre-packaged, pre-built, pre-implemented forms libraries Speeds time to market Integrates within insurance enterprise infrastructure Promotes straight through processing (quote, rate, bind, issue) Differentiators Market leader, according to Celent Widest breadth of CCM solutions in the industry Most extensive insurance run-time system and components Supports more platforms, integration methods, databases and print streams than any other solution Impact across the company – CSR’s/End Users, Underwriting, Marketing, IT, & Production

12 Oracle Insurance Data Exchange
Electronic data hub for life and annuities that exchanges secure, real-time data among carriers, agencies, and third parties, enabling straight-through processing. Key Features Centralized Internet Hub Eliminates disparate data feeds to and from multiple vendors, partners and distributors Promotes straight-through processing Improves agent-carrier relationship and customer service Data aggregation and format translation Carrier, service provider, and agency data aggregated regardless of format Speeds production time and ensures data accuracy Data accepted in multiple formats ACORD XMLife NAILBA Other Differentiators Largest, centralized data exchange for life & annuities Top 50 life underwriting companies (carriers) Millions of messages exchanged in a year Utilized by thousands of independent life insurance producers

13 Oracle Insurance Compliance Forms Tracker
Platform Solutions: Compliance Fully automates U.S. state filing preparation process, including research, creation, assembly, submission and tracking. Key Features Direct integration with SERFF Automates filing preparation process with two-way communication Built-in PDF conversion for submission Centralized database of all filings Reduce redundant data entry Increased product integrity Maintains latest filing forms and regulations Increase efficiency with electronic access to forms Speed time to market with always-accurate forms Provides historical picture of filing preparation and status Accurately track all filings, preventing duplication or omission Shows all DOI correspondence Differentiators Enables straight-through processing by completely automating U.S. state filing process Only third-party software integrated to SERFF Supported by Oracle compliance professionals to ensure latest filing forms and regulations Promotes self-service by allowing other business units access

14 Oracle Insurance Product Roadmap Highlights
12 Months 12-24 Months New Releases for all Core Insurance Applications 1 1 Integrated Solution Sets Deliver end-to-end insurance solutions, such as: Distribution Management (CRM, Rating/UW, DA, & New Business) Policy Lifecycle Management (PAS, DA, Billing, Financials) Claims Management (Claims, DA, Financials) “Insurance in a Box” Life Policy Administration System Internationalization features Over 50 customer-driven enhancements UI redesign / Web 2.0 capabilities Enhanced Rules Palette capabilities New Business & Illustrations NB platform Financial advisor desktop Insbridge Rating & UW User productivity improvements JBOSS platform support for SoftRater Pre-defined ISO Rates Document Automation Improved usability Integration to Oracle ECM Claims Management LOB enhancements Insurance Data Exchange Support for additional lines Insurance Compliance SERFF Changes Integration to Document Automation Insurance BI Uptake of Oracle BI platform 2 Life Straight-through Processing Integrated NB/UW application & PAS with Insurance Data Exchange service for: Application Submission, Case Status Service Ordering P&C Policy Administration Application Deliver Next-gen P&C Policy Administration solution 2 3 Health Insurance Administration Deliver Next-Generation Claims adjudication solutions for Health Insurance 3 Expanded Insurance CRM/ERP Functionality Oracle Siebel 8.1.1Release, CRM OnDemand for Insurance Insurance-specific AR/AP/Cash Management modules 4 Global Solutions Internationalization features in core insurance applications

15 Dealing with the Insurance Long Tail

16 Monolithic Application
Today’s Dilemma Cost of Ownership “The percentage of enterprise IT budget committed to application integration is on average 40% — and may rise to as much as 70% in certain situations” Aberdeen Point Solutions Cost “It often takes up to three years for the integrated software vendors to get to functional parity with the point solution vendors” Aberdeen Monolithic Application Business Value Functionality

17 Oracle’s Policy Lifecycle Solution
Business Value Oracle Portfolio New Business Policy Admin. Premium Billing Financials CRM TCO Monolithic Application Point Solutions

18 Applications Integration Architecture
Oracle Insurance Application Architecture for Policy Lifecycle Management Leads Opportunities Prospects Sales Process Policy Regulatory Transactions Bill Plan Bill History Collections Financials Taxation Reserves Illustrations Rates / Quotes Templates Bundles Policy Administration System Premium Billing Financials Insurance CRM Rating UW Desktop Oracle Enterprise Service Bus / BPM UW Case Mgmt. Assets, Reserves, Fees Product Def. Product Updates Adjustments Billing / Rates AR / GL Contact / Account Opportunity Applications Integration Architecture Customer Master 3rd Party & Legacy Enterprise Data Warehouse Document Automation IDX

19 Industry Reference Model Enterprise Business Objects
Announcing Oracle Application Integration Architecture (AIA): Insurance Foundation Pack Adaptable integration solution for orchestrating agile, user-centric business processes across the insurance enterprise applications Unify application portfolio Join Oracle and non-Oracle applications on a robust, open, standards-based platform Minimize integration costs and risk Speed time to value with pre-built insurance business objects and services Adapt business processes to changing business needs Optimize business operations using documented insurance business processes Industry Reference Model Enterprise Business Objects Documented conceptual business process models, including: Distribution: Channel Management, Marketing, Sales, Service Core Operations: New Business, Policy/Member Service, Incentive Compensation, Billing, Claims, Reinsurance Application independent representation of common insurance objects: Claims, Policy (planned) Additional EBOs to support premium billing & insurance distribution EBO EBO Policy Claim

20 Oracle IRM for Insurance
Covers all lines of insurance: P&C, Life & Health Completed L0 & L1 development of Insurance IRM across all core insurance areas 25+ L1 BPM diagrams completed Whitepaper Document published L2 & L3 drill-downs in progress for Insurance P&C Claims area completed

21 Oracle Insurance Business Process Model

22 Insurance Foundation Pack – Claims
Focused Processes: Verticalization of EBO & EBS to support key Insurance business processes: Claims Policy Lifecycle (Planned) Distribution (Planned) Insurance Foundation Pack Industry Business Process Model Customer Relations Core Insurance CRM Claims Targeted EBOs: Claims - NEW Customer Party Disbursed Payment Invoice Payable Invoice Receive Payment EBOs/EBS Corporate Admin Financials

23 Financial Services Strategy Update Greg Midtbo – Industry VP – Global Financial Services Business Unit October 23, 2008

24 The Financial Services and Insurance Global Business Units
Dedicated Business Unit launched in June’07 Headquartered in New York City 12,000+ Employees 8,500 Customers 2,100 Partners 300 Products Built on Standard Technology Stack #1 Enterprise Software Supplier in Financial Services

25 Oracle in Financial Services
20 of the top 20 Global Banks 20 of the top 20 Insurance Companies 10 of the top 10 Securities Firms 5 of the top 5 Mutual Fund Companies 4 of the top 5 World Stock Exchanges 25 © 2008 Oracle Corporation – Proprietary and Confidential 25

26 Oracle’s Strategy Complete Open Integrated
More Value Less Complexity Comprehensive Industry Portfolio Complete More Choice Less Risk Standards-Based Architecture Open More Flexibility Less Cost Designed to Work Together Integrated 26 © 2008 Oracle Corporation – Proprietary and Confidential 26

27 Oracle’s Financial Services Strategy
Oracle’s Strategy and Vision is based on the view that the only way to bring a wide range of domain specific software capabilities to market is through: Developing and acquiring the most complete set of “best of breed” functional capabilities available from any one single vendor Pre-integrating these “best of breed” solutions through process based integration to reduce complexity and cost for the customer Standardising and converging over time the “integrated best of breed” solutions onto a common, open technology architecture Building an ecosystem of system integrators to complement our own capabilities for platform lead implementations 1 2 3 4 27 © 2008 Oracle Corporation – Proprietary and Confidential 27

28 Oracle’s Financial Services Strategy
Oracle’s Strategy and Vision is based on the view that the only way to bring a wide range of domain specific software capabilities to market is through: Developing and acquiring the most complete set of “best of breed” functional capabilities available from any one single vendor Pre-integrating these “best of breed” solutions through process based integration to reduce complexity and cost for the customer Standardising and converging over time the “integrated best of breed” solutions onto a common, open technology architecture Building an ecosystem of system integrators to complement our own capabilities for platform lead implementations 1 2 3 4 28 © 2008 Oracle Corporation – Proprietary and Confidential 28

29 Why Integrated Best of Breed?
Best of both worlds Grid Computing Architecture Service Oriented Architecture Enterprise Information Architecture ERP Suites System Consolidation Focus on efficiency, not flexibility or agility Trade off of functionality for ease of integration Efficiency Point Solutions Standalone Applications Focus on getting data in Significant cost and complexity of integration Legacy Flexibility 29 © 2008 Oracle Corporation – Proprietary and Confidential 29

30 Oracle’s Investments to Address Key Priorities for Financial Services Industry
Providing high performance databases for timely transaction execution Unlocking the full value of you organization’s workforce Comprehensive behavior detection platform for AML , broker & trading compliance Banking specific CRM capability for the front office Teller & Internet banking applications Complete banking product suite for retail, consumer, corporate, investment and asset management Empowering institutions to manage content for compliance Delivers the visibility you need to improve performance & achieve goals Governance, Risk and Compliance platform to address challenges facing a FSI Comprehensive consumer lending systems Improving banking performance via greater business insight Treasury Services Percentage of software spend Gartner Forecast: Banking, Worldwide, Aug 2005

31 Oracle Footprint: Banking and Wealth
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32 Investment in Market Leading Analytics Financial Services
Treasury Services Multidimensional Profitability, Funds Transfer Pricing, Asset Liability Management, Balance Sheet Planning Transactional Analytics, Anti-Money Laundering, Broker/Dealer Compliance Basel II, Economic Capital, Credit Risk, Operational Risk 1998 2005 2006 2007 Activity-Based Management, Funds Transfer Pricing, Financial Services Data Warehouse Customer Analytics, Business Intelligence Financial Consolidations, Budgeting & Planning

33 Oracle FS Analytics Vision
Merge Best-of-Breed capability across products Create a single integrated platform Treasury Services Financial Services Business Intelligence Financial Services Analytics Framework Financial Services Data Model 33

34 Market Leading Applications
EPM Workspace Governance Risk & Compliance Enterprise Risk Management Enterprise Performance Management Customer Insight BI Applications Business Intelligence Foundation Fusion Middleware OLTP & ODS Systems Data Warehouse Data Mart OLAP SAP, Oracle, Siebel, PeopleSoft, Custom Excel XML Business Process

35 Revenue Management and Billing for Financial Services (RMB)
Oracle – A complete Billing/AR solution: Rating Engine – Billing Calcs, Commissions Billing Engine- scalable, flexible Full Credit Collections Suite A/R Customer self service (web presentment) Currently Integration to: Financials AP/GL – ORCL and PSFT productized CRM – in process to be productized Self-Service (OCS delivered) Currently in production integrated with Oracle EBS, PSFT Financials, SAP, Siebel, Lawson, and many other COTS packages and custom systems RM&B Self Service CRM Financials © 2007 Oracle Corporation – Proprietary and Confidential 35

36 The Value of FLEXCUBE® Service oriented architecture
Business agility/flexibility Flexible business rules definition Combining rules to offer innovative products Reduces time-to-market for new products Customer loyalty/acquisition Offers complete relationship View Provides real-time information Rapid growth Enables horizontal and vertical scalability Eases post M&A integration Operational efficiency Lowers operational cost Increases automation and STP Service oriented architecture Encapsulates over 1000 services Delivers BPEL based process orchestration Eases interfacing/integration with external systems Real-time, 24x7 capabilities No redundant processing Eliminates memo posting reconciliation Reduces manual exception processing Technology Enhances maintainability and lowers IT costs with contemporary, industry-standard technology Leverages platform and database independent

37 Oracle Financial Services Solutions
Oracle Financial Services Solutions are can be offered in a wide array of deployment options and configurations. Solution In House Remote Hosting Application Service Provider Business Process Outsourcing FLEXCUBE Retail (Deposits & Loans) FLEXCUBE Financial Ledger FLEXCUBE Universal Banking Treasury Services Fraud Mitigation (Oracle/Mantas) Regulatory / Compliance Oracle / PeopleSoft Financials Analytics CRM Technology Stack

38 Client Traction Market Segments Recent Clients
International Bank operations in NA Commercial Deposits Treasury Commercial Lending Recent Clients American Express Bank Caisse Centrale Desjardins Citibank Federal Home Loans Bank – NY FINCA GE Money Bank International Monetary Fund North Carolina Dept. of State Treasurer Silicon Valley Bank

39 Oracle’s Financial Services Strategy
Oracle’s Strategy and Vision is based on the view that the only way to bring a wide range of domain specific software capabilities to market is through: Developing and acquiring the most complete set of “best of breed” functional capabilities available from any one single vendor Pre-integrating these “best of breed” solutions through process based integration to reduce complexity and cost for the customer Standardising and converging over time the “integrated best of breed” solutions onto a common, open technology architecture Building an ecosystem of system integrators to complement our own capabilities for platform lead implementations 1 2 3 4 39 © 2008 Oracle Corporation – Proprietary and Confidential 39

40 Enable Business Transformation through Composite Business Processes Oracle Application Integration Architecture Accelerate Business Process Transformation Industry Reference Model: Provides a reference framework of best practice processes Reduce Integration Risk Process Integration Packs: Quickly integration Oracle application to create the business processed you need, without the risk Enterprise-wide Standardization with Re-usable Process Components Foundation Packs: Pre-built set of Enterprise Business Objects & Services, integration management infrastructure and proven methodology significantly lowers cost of ownership and provides a faster time to value for new composite business processes. Achieve Business Process Adaptability and Agility Pre-built SOA: Application independent service translation and transformation

41 ORACLE Fusion Financial Advisor Desktop Application Component Strategy
Fusion WebCenter Suite Fusion SOA Suite & Fusion Middleware Fusion Business Process Manager / BPEL / ESB ORACLE Application Integration Architecture ORACLE Applications i-flex WM Applications 3rd Party Applications Market Data Providers Customer Applications 41

42 Oracle’s Financial Services Strategy
Oracle’s Strategy and Vision is based on the view that the only way to bring a wide range of domain specific software capabilities to market is through: Developing and acquiring the most complete set of “best of breed” functional capabilities available from any one single vendor Pre-integrating these “best of breed” solutions through process based integration to reduce complexity and cost for the customer Standardising and converging over time the “integrated best of breed” solutions onto a common, open technology architecture Building an ecosystem of system integrators to complement our own capabilities for platform lead implementations 1 2 3 4 42 © 2008 Oracle Corporation – Proprietary and Confidential 42

43 We are leveraging Industry Standard Middleware and Architecture
43 © 2008 Oracle Corporation – Proprietary and Confidential

44 Oracle’s Financial Services Strategy
Oracle’s Strategy and Vision is based on the view that the only way to bring a wide range of domain specific software capabilities to market is through: Developing and acquiring the most complete set of “best of breed” functional capabilities available from any one single vendor Pre-integrating these “best of breed” solutions through process based integration to reduce complexity and cost for the customer Standardising and converging over time the “integrated best of breed” solutions onto a common, open technology architecture Building an ecosystem of system integrators to complement our own capabilities for platform lead implementations 1 2 3 4 44 © 2008 Oracle Corporation – Proprietary and Confidential 44

45 Oracle’s Global Partner Network
2,000+ Partners in the Financial Services ecosystem including SIs, ISVs and VARs GLOBAL SYSTEM INTEGRATORS 45 © 2008 Oracle Corporation – Proprietary and Confidential 45

46 Strongly Differentiated Value Proposition
Most comprehensive range of applications Oracle as Strategic IT partner rather than technology vendor Single point of responsibility for total solution Best of Breed & Pre-integrated Components Best-in-class functionality to solve business problems Pre-built and sustainable integration – reduced TCO and complexity Business Process-driven transformation Alignment of IT strategy alignment with business priorities, with immediate business impact Enabling evolutionary transformation of legacy infrastructure Strategic enablement of standardization and consolidation Strong commitment to open standards and interoperability Ease of integration with third party and legacy solutions Evolutionary transformation to SOA Strong delivery capability with domain expertise Risk mitigated project delivery with strong track record of success Strong relationships with leading System Integrators to deliver complete solutions and risk mitigation 46 © 2008 Oracle Corporation – Proprietary and Confidential 46

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