Corporation Oracle purchases company AdminServer
Corporation Oracle declared agreement undertaking about acquisition AdminServer, fast growing company specialising on working out of the software for administration of insurance policies. Decisions AdminServer become one of key components of a complex of software products Oracle for branch of insurance which is used more than one thousand assurance companies including all 20 largest global companies of this branch.
The range of products AdminServer will add such appendices Oracle as Oracle Billing, Siebel Claims and Siebel CRM for Insuance, and will allow to accelerate considerably working out of decisions for insurance branch, transmits CyberSecurity.
Association of technologies Oracle and AdminServer will allow to create the complete, complex decision for management of the insurance policies, allowing to operate set of products, including life insurance, annuitetyi and secondary insurance. In structure Oracle specialised global business unit where chiefs and employees AdminServer who will develop the major operational applications for the insurance industry will enter will be created. The post of the general director of this business unit will be taken, predictably, by main chief executive AdminServer Rik Konnors (Rick Connors).
«The majority of assurance companies is used still by out-of-date appendices for administration of policies which are extremely nonflexible, reducing levels of efficiency and efficiency of business, — president Oracle Charles Phillips has noted. — common efforts Oracle and AdminServer can grant insurance branches the advanced, the most complete, based on standards and closely integrated complex of software products of a corporate class».
Before definitive end of the given bargain which is planned on first half of 2008, each of the companies will continue to work independently. Bargain financial arrangements are not disclosed.
