The last few years have made keeping up with innovation and growth in the financial services industry difficult. Fortunately, SAP is bringing the best in the business together in Boston. On March 8 and 9, we will let you hear from industry expert...
Insuretech: Improving lives with technology In the unfortunate event of a road traffic accident, the aggrieved party is left stranded. Critical time is often lost, adding agony to an already painful situation. But what if the accident itself can al...
Josephine Monberg interviews Toni Tomic, Global Head of Insurance at SAP, on this episode of Industry Insights by SAP. Toni discusses how the insurance industry has managed during the coronavirus pandemic and how technology will play a role in the r...
Evolving customer expectations and disruptive technologies are creating new business models and new ways of working. To succeed in our dynamic digital world, insurers are transforming into intelligent enterprises. Insurers must harness the power of...
Does the 2025 vision for your company include alliances with other competitors? What about IoT and AI? As the global business economy continues to evolve from industry-specific offerings to new digital network economies, alliances with other compan...
Insurers are witnessing an unprecedented change in their financial reporting requirements. The recently released Accounting Standards, Targeted Improvements to the Accounting for Long-Duration Contracts from the Financial Accounting Standards Board...
This May in Orlando, forward-thinking leaders from across the globe came together to tackle this critical challenge: How can I build an intelligent enterprise in the experience economy? From the keynotes to interactive sessions to product demos, at...
"How can I build an intelligent enterprise in the experience economy?” Get your answer at the 2019 SAPPHIRE NOW conference, taking place from May 7-9 in Orlando. The insurance-focused events at SAPPHIRE NOW bring together industry leaders and t...
To maximize the value of innovation, it should be shared. Dig up your insurance gem and share the wealth with us! Businesses across all industries are heads down, getting their hands dirty by pursuing innovation in ways we haven’t seen before – an...
A new accounting standard for Insurance Contracts IFRS 17 was issued in May 2017 by the International Accounting Standards Board (IASB) and It will be effective as of 1 January, 2021. Over the past years SAP has worked with customers and partners...
How many customers bought our product last month? Could our company benefit from switching to a different risk and capital scenario? How would our profits be affected if I decreased our IT expenses? What if our industry stopped growing– could we s...
Predictive analytics is playing an ever-increasing role in virtually all areas of the insurance industry. Throughout the value chain of marketing, sales, underwriting, pricing and claims, predictive analytics are assisting more and more companie...
The International Financial Reporting Standard 17 (IFRS17) was recently launched by the International Accounting Standards Board. This standard replaces IFRS 4 and will have a significant impact on many insurers today. Specifically, it targets tran...
I’ve written a lot about how the insurance industry is changing, and how startups and companies that embrace digital transformation are reshaping the model for the insurance industry. And while concepts such as IoT and Big Data are important to ...
Increased digitization in the insurance industry is driving a need for robust digital platforms. SAP, CSC, and Oracle are the main competitors in this space. Thanks to their broad portfolios of insurance specific products, they're known as megavend...
Digitization and disruption. The changes in the insurance industry today are unprecedented. New technology is completely shifting how the market works. How is your insurance business keeping up with these changes? Find out at SAPPHIRENOW and learn ...
Strategic Topics Blog Prefixing 'Digital' does not make it Digital! Tweet LinkedIn Consumer Blog Precision Medicine Gives People With Cancer New Hope Tweet LinkedIn PR Articles Supply Chain Dive: "Survey: Retail execs know ...
Ageas, a multinational insurance company co-headquartered in Brussels, Belgium, recently announced that Ageas Real Estate, completed its 100th school infrastructure project. Remarkably, delivery of a brand new building for primary school De Horizon i...
Machine Learning and AI is not new in the market! Computer scientists have been working on Artificial Intelligence since the 1950s. BUT today, thanks to huge advances in technology, Big Data processing, massively increased computing power, and impr...
Long predicated on trusted relationships between people, the insurance industry is ripe for disruption. However, innovations like blockchain technology are not necessarily bad for insurance workers. Blockchain in particular represents an amazing oppo...
We are pleased to introduce a new SAP Digital Boardroom for Insurance video which showcases how insurers can achieve unmatched, real-time insights into profitability and performance metrics, anytime and anywhere. Find out how the SAP Digital Boardroo...
By Birgit Fien-Schmalzbauer, Head of Research and Innovation for Insurance, SAP SE @Birgit_fien The insurance industry, perhaps more than any other, is facing big changes and expecting big opportunities over the next few years thanks to digital tran...
One might have encountered scenarios where the requirement is to schedule BTS generically within a program. It is good to have a single method that does this irrespective of the business transaction (BTX). Obviously, the next question would be, how t...
When I was asked to prepare for my 9-minute TED-style talk at a recent Digital Industries Summit, I thought that in order to look at the future of insurance, it might be instructive to look at the past. I didn’t realize that looking back would take m...
Week 42 SAP Next-Gen Podcast:"SAP Digital Insurance Innovation Summit in Silicon Valley"Ben Christensen and Ann Rosenberg discuss what the new SAP Next-Gen Lab for Insurance means for you, and what to expect in industries to come.Launching the SAP Ne...
Expenses in Insurance:There are many factors for an insurer, that drive the cost across it’s value chain. Economic climate, it’s business complexity, performance management, operations, IT, support functions, geography – just some of them perhaps. At...
The following is an excerpt of the Technology Innovations column I wrote that was published in August 2016 issue of Best's Review magazine. (Reprinted with permission by A M Best Co.)The Cloud is fast gaining traction as the go-forward technology pl...
SAP Digital Insurance Innovation Summit October 13–14, 2016 | San Francisco, CABy Bob Cummings, SAP Global Head – Insurance Business Unit Fall is just around the corner, and the insurance team at SAP has been hard at work putting together the SAP Dig...
A recent report from TCS shows that the insurance industry is expected to spend $102.9million on IoT-related technology and solutions in 2018 alone, up from $77.7million in 2015. This huge growth in investment demonstrates the financial potential of ...
Over the last decade, the foundation on which the insurance industry is built has started to shift – and companies across the industry have started to take notice. In a business that has stayed essentially the same for centuries, even small changes c...
Even though Solvency II has been on insurers’ radar screens for years, it seems that many enterprises were still playing “catch up” when the January 1st compliance date arrived. A survey by Deloitte shows that half of insurers were still struggling t...
The Financial Times estimates that the market for funds advised by hybrid robo-human services will grow to $16.3 trillion worldwide in the next nine years. According to Swiss financial research company, Myprivatebanking.com, pure robo-advice has jump...
About: Founded in 1901 and headquartered in Buenos Aires, Argentina, Sociedad Militar Seguro de Vida (SMSV) delivers a wide portfolio of financial services to members of Argentina’s armed forces. Employing 700 people, SMSV operates a network of 23 br...
By Birgit Fein-Schmalzbauer, Head of Research and Innovation, SAP for Insurance, and Manju Bansal, VP, Global Program Head, SAP Startup FocusInsurance may not be a sector that’s known for its tech innovations, but that may be changing quickly. The qu...
This article by Geoffrey Weiss was posted on the Digitalist June 29, 2016The insurance industry is traditionally slow to innovate, and that’s a problem today. Today, more than half of all consumers research insurance brands online, especially using s...
BRF Implementation Strategy GuidelinesExecutive Summary:Reason for such a blog expands with the need of maintainability of previous functionality whilst building a comprehensive solution with a higher degree of flexibility in terms of amendments for ...
Executive Summary:This blog describes the pain points that we encountered at a specific insurance customer in Netherlands and along, the solution that we implemented and which we’re ready to offer as service to our insurance customers.The main driver...
Executive Summary:The purpose of this blog is to demonstrate how the insurance solution portfolio can be sustained with Odata service technology.Taking advantage of odata services and UI5 we can improve end user experience and productivity for our in...
Loss ratio : A ratio that measures losses and loss adjustment expenses against earned premiums and that reflects the percentage of premiums being consumed by losses.Expense ratio :An insurer's incurred underwriting expenses for a given period divided...
At the SAP Personalized Medicine Forum on July 6–7, 2016 in Bonn (Germany), experts will discuss the digitization of healthcare and the exciting chances it will bring. Precision Medicine is a revolution that will affect all of us. In podium discussio...
Introduction PBT which is ‘Policy Base Technology’ is the base development framework for FS-PM. It has been woven together with remarkable OOPs concepts along with other components. For an entrant into FS-PM, the world of PBT within the transa...
Context: SAP for Insurance -> FS-PM -> Master Policy -> Generic EntityIn master policy, nodes like creditor, beneficiary, commissioner, broker etc., have been implemented by generic entity.Any additional entities can be modelled by the customer as ge...
Written by Stefan SchmidtBusiness networks are taking on an increasingly important role in our economy, and the numbers speak for themselves. In 2013, revenue on business networks topped USD$ 2 billion and is expected to increase by half again in thr...
Increasingly, there seems to be a mismatch between distant, impersonal insurance firms and ever-more demanding customers. Let’s look at how technology can help you to nurture strong, lasting relationships and provide a personalized service that delig...
IntroductionSimple Product Deployment was first mentioned in the blog of Bjoern Panter. The official product name is SAP Policy Management Product Deployment add-on. SAP customizing for defining a product module group and extending it to various pro...
Join Deloitte and SAP for our webinar " Insurance Boardroom of the Future" at 11:00 a.m. BST / 12:00 p.m. CEST on Tuesday 19 April, 2016.Finance's role in the organisation of insurance businesses across all markets is becoming more central. A recent ...
We all know SAP For Insurance or do we? Our recent poll at US Insurance Agents among our listed independent and captive agents suggests that only 25% of agents are in cloud, while 45% plans to move within next 1-3 years. We are moving closer and clos...
The connected home is getting more connected, with Gartner predicating that a typical family home could contain more than 500 smart devices by 2022. Connected energy and security systems, along with smart appliances, are all making home life more com...
I am your target demographic. I’m a Millennial, I’m on a good career trajectory with a blue chip company (SAP), and chances are I tick all the boxes of the profile your marketing department is looking to attract as a customer. So I’m going to tell yo...
Often we were asked to explain which business scenarios can be covered by the FS.PM Group Insurance Addon GIA. In the following blog I want to give you some insight about 3 different scenarios which ar covered by GIA.We will start with ta simple repr...
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