HNBA moved from an on-premise ERP system to the cloud solution to streamline its processes with new technology to offer faster, efficient solutions to the market. With Oracle Cloud ERP, the life insurance provider is now able to serve its customers swiftly and efficiently at a lower cost, which gives an opportunity to grow the insurance product portfolio. This will also help the company in complying with regulatory requirements such as International Financial Reporting Standards 17 (IFRS). Sharing his views, Managing Director/CEO of HNBA and its fully owned subsidiary
Lokuarachchi further commented stating, 'Oracle Cloud ERP will not only help us comply with regulatory requirements but will also enable us to merge our disparate business processes. This will improve operational efficiency, speed up our market penetration and allow us to offer new, customised solutions to our customers.'
With Oracle Cloud ERP as the core application across its life insurance products, HNBA can now attract more customers and expand its services throughout
'We are delighted to support HNBA in this chapter of their growth as they look to transform the insurance industry in
MillenniumIT ESP, a Platinum member of the Oracle PartnerNetwork, implemented the project for
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