HBF has chosen Oracle Health Insurance (OHI) to support its digital transformation as part of a broader strategy to modernise its systems and processes.
HBF is a private health insurer based in Western Australia. According to a statement from the company, it is looking to improve the experience it offers to members, employees and providers.
The organisation currently has more than one million members and a robust reputation in Western Australia.
With Oracle Health Insurance as the core platform across its health insurance products, HBF aims to grow its membership and expand its services throughout Australia.
HBF Health Limited head of transformation Prasad Arav says, “As the provider of our core health insurance system, Oracle will be a crucially important partner for HBF, enabling us to develop and launch products more quickly in response to our members' needs.
With the configurable, API-enabled Oracle Health Insurance software, HBF will be equipped to adapt to changing market demands, member needs and generally improve operational efficiency, according to a statement.
HBF chose Oracle Health Insurance in part due to its global relevance - it is successfully used across Europe, the US, South America and the Middle East as well as in other Australian companies.
Oracle Financial Services group vice president sales APJ and Middle East Venky Srinivasan says, “HBF is a key player in the Australian market and they have chosen Oracle to help them expand their services and business.
“HBF understands that agility and efficient operations are intrinsically linked to growth – especially in the insurance industry where constant market changes make reacting at speed essential.
“Oracle Health Insurance provides HBF the foundation to expand and will help position it as a leader nationwide.
HBF is Australia's fourth largest health insurer and one of the country's two remaining large not-for-profit health funds. In Western Australia the company has a market share of more than 50%.
Oracle provides a Core Administrative Processing Solution for Health Insurers to drive Group, Individual, Medicare, TPA and ASO businesses.
Health insurers can optimise administrative costs, increase operational efficiency, streamline claims processing, improve billing accuracy and improve member experience, whether on-premise or in a secure Oracle Cloud.
Oracle Cloud, on the other hand, offers a suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database.