Oracle Announces Launch of Oracle Insurance

    SAN FRANCISCO, Sept. 23 /PRNewswire-FirstCall/ -- Oracle OpenWorld --

     News Facts
     Oracle Insurance
     *   In response to global insurance industry customer needs, Oracle
         today launched Oracle Insurance
         (http://www.oracle.com/industries/financial_services/insurance.html),
         which serves more than 2,000 insurance customers worldwide.
     *   Oracle Insurance helps insurers improve business agility through an
         end-to-end software offering that manages the entire enterprise --
         from technical infrastructure to core insurance processing.
     *   With Oracle Insurance products, insurers can get products to market
         faster, reduce operational costs, strengthen customer and
         distributor relationships, and gain full visibility into their
         business operations.
     *   Oracle Insurance offers customers added flexibility to address
         critical business issues by delivering applications as part of an
         integrated solution or as a best-in- class offering.
     *   Oracle Insurance leverages a broad standards-based product set that
         spans Oracle(R) Database, Oracle Fusion Middleware, Oracle
         Enterprise Resource Planning (ERP), Customer Relationship Management
         (CRM) and Enterprise Performance Management applications (EPM), as
         well as industry-specific offerings from Oracle's AdminServer,
         Skywire Software and Siebel product lines.
     *   Oracle Insurance builds on Oracle's proven track record in the
         sector -- with 20 of the top 20 Fortune 500 insurers using Oracle
         applications.

Oracle Application Integration Architecture (AIA) Foundation Pack for Insurance

     *   Underscoring its focus on the insurance market, Oracle introduced
         Oracle Application Integration Architecture (AIA) Foundation Pack
         for Insurance (http://tinyurl.com/4urr9g), which enables insurance
         companies to accelerate application integration between Siebel CRM
         Claims and Oracle's PeopleSoft Enterprise or Oracle E-Business Suite
         Financials to streamline payments and reserve management.
     *   Oracle AIA Foundation Pack for Insurance helps insurers to unify
         their Oracle and non-Oracle application portfolio, including new and
         existing systems; minimize integration costs and risks; and quickly
         adapt business processes.


     Supporting Quotes
     *   The creation of Oracle Insurance demonstrates Oracle's commitment to
         meeting the insurance market's specialized needs," said Jeff Fabry,
         Chief Information Officer and Chief Security Officer, Island
         Insurance.  "The company's dedicated focus on insurance, extensive
         experience in providing innovative solutions to the industry, and
         unmatched development and support resources set the stage for
         innovation that enables insurers to achieve new levels of agility,
         performance and customer service."
     *   "Oracle's expanded focus on the insurance industry is a very
         positive sign for insurers and their CIOs.  The elevated presence of
         IT leader Oracle in the insurance sector -- and its commitment to
         delivering an integrated suite of offerings that help insurers
         improve efficiency, time to market and customer service . will spark
         even greater innovation across our industry," said Piyush Singh,
         Chief Information Officer, Great American Insurance Company.
     *   "We are excited to see Oracle creating a new business unit focused
         on the insurance industry.  Oracle's vision of advancing an
         integrated suite of applications that enables insurance
         organizations to seamlessly link business and industry-specific
         applications will help insurers to simplify IT infrastructures and
         deliver greater value to customers," said Parthasarathy "Partha"
         Srinivasa, Chief Technology Officer and Vice President, Applications
         Development, Farmers Insurance Group.
     *   "Insurance companies have been a key part of Oracle's customer base
         for many years.  We have launched Oracle Insurance in response to
         our customers' needs for end-to-end solutions that deliver value
         across the insurance enterprise," said Rick Connors, Senior Vice
         President and General Manager, Oracle Insurance.  "Oracle Insurance
         has the industry-leading applications and expertise that will help
         customers shift from legacy systems to modern technology and
         profitably grow their businesses."


     Supporting Resources
     *   Oracle Insurance
(http://www.oracle.com/industries/financial_services/insurance.html)

* Oracle Application Integration Architecture (http://tinyurl.com/5hhwqv)

About Oracle

Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com.

Trademark

Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO)