Press release: South Africa’s Old Mutual accelerates growth with Oracle Cloud

Multinational insurer reduces on-premises footprint; migrates critical business functions to Oracle Cloud to boost efficiency and enhance services.

Oracle today announced that Old Mutual, the multinational insurance and banking group, has deployed critical business functions to Oracle Cloud. The implementation includes migration of core IT systems from an on-premises environment to Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Customer Experience (CX), and Oracle Autonomous Data Warehouse (ADW).

The deployment is designed to drive end-to-end integration of Old Mutual’s core functions, including finance, procurement and supply chain, while also creating an automated configuration and backing up the data warehouse, as well as providing a secure remote work environment for employees. Additionally, Old Mutual will also be able to make every customer interaction count by connecting all business data across advertising, marketing, sales, commerce, and service. As a result, Old Mutual expects to increase operational efficiency, cut costs, enhance its customer support, deliver innovative services, and accelerate growth.

Established in Cape Town in 1845, Old Mutual is South Africa’s oldest insurance provider. It employs over 30,000 people and operates in 14 countries in Africa and Asia.

“At Old Mutual, we are passionate about enabling our customers and employees to live their exceptional best lives. We are digitalising our customer and employee experience to make it easier to engage and do business with us,” said Johnson Idesoh, Chief Information Officer at Old Mutual. “Our partnership with Oracle has enabled us to improve the experience for our employees at record speed while also giving us business agility. At the same time, we have modernised our IT estate with Oracle’s Cloud Applications and Cloud Services.”

“Old Mutual’s migration to the cloud has been swiftly completed under the Oracle SOAR programme, reducing the migration time and cost by 30 percent and removing complexity,” said Ashley Sanichar, Senior Director, Business Applications, Oracle South Africa. “With this integrated implementation, Old Mutual is realizing all the benefits of cloud including lower total cost of ownership, improved agility, secure performance, access to non-disruptive upgrades, and the ability to deliver innovative services continuously.”

The implementation was driven by Oracle Consulting Services and completed remotely during a lockdown in South Africa.

“With 7,000 experienced Oracle Cloud consultants in more than 100 countries, Oracle Consulting Services is geared to help organisations reduce risk and maximise investment by providing rapid solutions. Our True Cloud method has been instrumental in quickly completing this cloud implementation with Old Mutual, thereby helping the business realise benefits faster,” said Kyriakos Rigas, Vice President - Oracle Consulting Applications, Middle East and Africa.