Oracle boosts Guardian Life's finance operations with AI ERP

Oracle has announced a collaboration with Guardian Life Insurance Company of America (Guardian) to enhance the efficiency and productivity of Guardian's finance operations. By implementing Oracle Fusion Cloud Enterprise Resource Planning (ERP), Guardian has utilised AI innovations to improve productivity, reduce costs, and enhance decision-making.

Guardian, a major life insurer and provider of employee benefits for over 160 years, faced challenges as it expanded. The company had accrued multiple cumbersome and expensive on-premises systems. Looking to streamline workflows and capitalise on valuable data, Guardian transitioned essential finance and operations processes to Oracle Cloud ERP.

Marcel Esqueu, vice president of financial systems transformation at Guardian, said, "As the insurance industry faces evolving customer expectations, regulations, and rising costs, we needed to standardise our finance process to deliver more value to our members." 

"With Oracle Cloud ERP, we have been able to expand insights, accelerate our financial close, and increase efficiency. With our core financials in the cloud and a complete view of our data, we can embrace Oracle’s embedded AI capabilities to further increase productivity."

Rondy Ng, executive vice president of applications development at Oracle, commented on the competitive nature of the insurance market. "Insurance providers operate in a highly competitive market and require fast, accurate, touchless processes to help control costs and deliver maximum value to policyholders," said Ng.

"With Oracle Cloud ERP, Guardian says it has been able to improve the speed and accuracy of finance operations. With Oracle’s quarterly updates, Guardian can embrace continuous innovation and the latest AI advancements to deliver even more value to its members."

Oracle Cloud ERP is currently utilised by over 10,000 organisations across various sectors, including both public and private. The platform provides a broad range of enterprise finance and operations capabilities, such as financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, supply chain management and manufacturing, and Oracle B2B. These features are designed to streamline how organisations transact, pay, finance, and ship sustainably across the globe.

The collaboration between Oracle and Guardian Life Insurance Company represents a significant step towards modernising and enhancing financial operations within the insurance industry. By adopting Oracle Fusion Cloud ERP, Guardian aims to streamline its processes, leverage AI capabilities, and improve overall efficiency.

The partnership, supported by Deloitte, underscores the ongoing trend of enterprises adopting advanced cloud solutions to address operational challenges and meet evolving market demands. This development reflects a broader movement towards integrating sophisticated technology to drive operational improvements and maintain competitiveness in the financial services sector.