Oracle has announced the acquisition of Skywire Software for an undisclosed sum.
Skywire develops insurance software and document management applications that assist insurers in managing the lifecycle of an insurance policy.
This includes insurance policy creation, rating, agent/broker management and information exchange solutions.
Oracle said that Skywire, and the pending acquisition of AdminServer, will accelerate its complete software suite for the insurance enterprise.
This will include Oracle's database and middleware for technical infrastructure, applications to support general business, and insurance-specific functionality in Oracle Billing, Siebel Claims, Siebel CRM and Insure3.
Skywire has 1,450 insurance customers which will add to Oracle's existing base of over 1,000 insurers.
The addition of Skywire will also expand Oracle's Enterprise Content Management system with customer communication management and document automation capabilities.
Oracle reckons that it can provide an end-to-end, multi-channel content capability spanning multiple industries including financial services, legal and utilities.
"Insurance is a strategic industry for Oracle with growth focused on integrated packaged applications," said Oracle president Charles Phillips.
"Insurance applications, such as Skywire's for insurance policy lifecycle management, help insurers navigate an increasingly complex business environment.
"Adding Skywire to our growing portfolio of insurance software products further accelerates our investment in, and commitment to, the most modern and complete software solutions for this industry."
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