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oracle policy automation

Oracle Policy Automation is designed as a specialized decision-making platform. While it provides the benefits of a traditional technical rules platform, it is optimized to implement complex policy logic that drives decision making and calculations.

Oracle Policy Automation is good fit and helpful for the business problems and challenges like:

  • Inconsistent and expensive interactions with customers
  • Problems with compliance
  • Difficulty implementing policies/Rules
  • Modernization of existing IT systems
  • Lack of business/policy stakeholder involvement
  • High cost of solution customization
  • Lack of rapid and incremental return-on-investment
  • Poorly designed legislation or policy

OMFYS Offerings

Life Insurance Process Automation and Process Agility Solutions

We have implemented OPA for various processes for insurance industry.

The list includes, but not limited to:

  • Insurance Policies created in OPA as repository
  • Premium calculation and Policy Illustration to customer – online
  • Auto Under Writing
  • Sales Agents Incentives and rewards calculations
  • Insurance Claim Validation and Fraud detection.
  • Self-service UI for sales agents for cross sell and upsell, it includes premium calculation, illustration and quote.
  • Self-service forms as extended functionality to the existing business portals/applications

Healthcare Insurance Claim Validation System for TPAs

Healthcare Insurance TPA business processes are majorly depending the rules and validations. The entire rules can be created and maintained in OPA and those rules can be referred for the operational processes like:

  • Pre-Authorization Validations
  • Claim Validation.
  • Auto Adjudication
  • Claim Settlement amount reporting
  • Tariff Management
  • Self-service UI to Hospitals for filling up the claim data and uploading requisite bills/documents
  • Fraud detections

Dealer Schemes and Incentive Management System

We have implemented OPA to create a platform for automating end to end process of Schemes and Incentive compensation management system. With this implementation the business could accomplish multiple benefits, mainly:

  • Easy to handle the frequently changing schemes.
  • Schemes are traceable as documents and business users can understand, rather than complex PL/SQL Codes.
  • Accuracy is increased.
  • By creating a platform, the business is able to communicate the incentive achievement of Dealers in real-time.
  • Roll-up of incentive compensation to regional sales supervisors as per the rule.
  • Provisioned for different kind of What If analysis like, Marketing Budgeting, What if analysis for Dealer wise product wiles target achievement gamification, etc.
  • Exporting dealers incentive compensation Credit Notes to financials in single click

Dealership Network Performance Management System

The Dealership network performance Management System analyses dealers revenue data and the expense data, and organise into a global level standard chart of account heads with the help of the rules and computation formulae written in OPA. Different KPIs are measured and controlled based on this global COA. The system provides dealer wise PnL to analyse overall performance dealer wise and country wise. Major achievements of implementing this system are:

  • Capturing dealer information. The entries are done by dealers. The data points to be entered have been minimised as the system is integrated with the legacy systems database.
  • Dealers performance indicators and PnL computation are available in single click and real time. This was done by manually by consultants using MS Excel
  • Key KPI capturing, Monitoring in real time and Controlling
  • Uploading of dealer data for global reporting is done in single click.

Domestic and International Warranty Claim Management System

This system sits on top of ERP, Integrating with the requisite master data like, price master, part master, etc. Aftersales warranty claims on the products and parts are analysed and qualified by the rule engine. The salient features of this system are:

  • Easy to maintain the rules in OPA. Rules can be of any complex and with any number of parameters, like country wise, partwise, period wise rules, etc.
  • Capable to Detecting Fraudulent Claims
  • Trigger claim approval workflow as per the hierarchy and rule set.
  • Fully automating the end to end process of Warranty Claim including documentation and reporting.

Many Others….

OPA can be implemented across the business processes in various business domains. Below is the list of domains a few to name:

  • Financial Services
  • Higher Education
  • Healthcare
  • Travel and Transport
  • Manufacturing
  • Media and Entertainment
  • Utilities
  • Human Resources and ERP
  • Social Services
  • Tax Licensing, Permitting and Inspections
  • Immigration & Visa Management
  • Grants