News
Oracle Buys AdminServer
May 2008 by Marc Jacob
Oracle announced that it has agreed to acquire AdminServer, a rapidly growing provider of insurance policy administration software. AdminServer’s product offering will become a core component of Oracle’s existing insurance industry software that is used by more than one thousand insurers, including 20 of the top 20 global insurance companies.
The AdminServer product line will significantly accelerate Oracle’s investment in the insurance industry and be complemented by Oracle’s existing insurance products such as Oracle Billing, Siebel Claims and Siebel CRM for Insurance.
The combination of Oracle and AdminServer will result in a comprehensive, end-to-end insurance policy management solution that can manage multiple insurance product lines such as life, annuities and reinsurance. Additionally, AdminServer’s management and employees will form a dedicated global business unit within Oracle, which will focus on providing critical operational applications to the insurance industry. AdminServer’s CEO Rick Connors is expected to lead the business unit as General Manager.
