Technology Combination Enables Insurers to Achieve Scalability, System Availability and Performance to Support Customer Service and Risk Reduction Requirements
ACORD LOMA – San Diego, Calif. – May 24, 2011
Oracle today announced superior performance in a recently completed benchmark test of Oracle Insurance Policy Administration for Life and Annuity (www.oracle.com/us/industries/insurance/046693.html) Version 9.3 running on Oracle Exadata Database Machine X2-2 (www.oracle.com/us/products/database/database-machine/index.html) and Sun SPARC Enterprise M9000 (www.oracle.com/us/products/servers-storage/servers/sparc-enterprise/031587.htm) application servers. The benchmark included 100 million policies and more than 2,000 concurrent users1 (#P10_689) .
The findings show that the technology combination can enable insurers, even the largest Tier One carriers, to achieve the scalability, system availability and performance needed to meet increasingly rigorous requirements for better customer service and reduced risk.
The benchmark performance test, conducted in partnership with a customer, is the largest known benchmark of its kind in the insurance industry. It included a data set containing five years of financial history, totaling nearly 30 terabytes of data.
The test used a representative sample of a full nightly batch cycle for a large-scale system supporting 100 million active policies (split evenly between term life and variable annuities). Running on Oracle Exadata Database Machine X2-2 and Sun SPARC Enterprise M9000 server, Oracle Insurance Policy Administration for Life and Annuity executed the batch cycle in less than two and a half hours.
Additionally, the system processed a complex workload with more than 2,000 concurrent users, with average response times well below one second.
The technology combination can help insurers to run much faster batch processing, expanding the time that systems are available for processing policies and delivering service to customers. And it can help insurers to reduce risk – providing them with an expanded window of time to perform other vital nightly processes such as gain/loss and trade reports necessary for variable annuity processing.
Oracle Insurance Policy Administration with Exadata can greatly simplify production deployments at a fraction of the cost of traditional technology. With the combined database server and storage server within Exadata, the cost associated with a separate storage area network (SAN) of 30TB capacity – in this particular performance test – has been eliminated.
"Insurers face unprecedented pressure to deliver higher levels of customer service, reduce risk, and improve speed to market,” said Kevin Walma, vice president, Insurance Products, Oracle Insurance. “The extreme performance of Oracle Insurance Policy Administration for Life and Annuity running on Oracle Exadata Database Machine X2-2 supports these requirements for even the largest Tier One carriers. It enables faster batch runs, providing an extended window for system availability to service customers and conduct essential transactions – while reducing server costs and opening up new opportunities for hardware consolidation.”
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