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DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Robert Schwartz / Anja Volkenandt
SAP FOR LIFE SAP FOR LIFE INSURANCEINSURANCE
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Agenda
SAP for Life Insurance Companies
Value Proposition
Demo
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Key Issues for Life Insurance Companies
“key technology elements [of policy administration]straight through processingflexible, tools-based configuration…”
– TowerGroup, June 2007Annuity Processing: Still a Bastion of Inefficency
“…carriers need to find a way to differentiate themselves and thus create acompetitive edge. Accomplishing this goal requires the use of technology to save time and administration overhead.”
“…need for greater industry oversight and transparency… to establish replicable enterprise controls for more effective data integration and replicable processes.”
– Datamonitor, Q1 2007Global Insurance Technology Business Update
“New product drives sales”
– Celent Model Carrier, January 2007Case Studies of Effective, Technology Usage in Insurance
“Insurers require flexible systems to manage increasingly complex compensations models.”
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Value Chain for Life InsurancePr
imar
yA
ctiv
ities
Supp
ort A
ctiv
ities
Product Development
New Business/ Underwriting
Customer Service
Life Claims & Annuity Benefits
Investment & Risk
Management
Sales and Distribution
Business Partner Management
Billing and Payments
Reinsurance, Actuarial, Document Management
Human Resources, Financials, Treasury, Procurement, Legal and Compliance
Technology Platform
SAP Offerings Certified SAP Partners
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Insurance Business Objects
Individual
ProductLead Application
Policy
Commission Contract
Claim
Payment
Invoice
Sub-ledger
General Accounts
TreatyIllustration
Prospect
Opportunity
Campaign
Sub-claim
Product Type
Cost Center
GL Account
Premium Type
Coverage Type
Reserves
Separate AccountsGroup
Organization
Bank Account
Prim
ary
Supp
ort
Product Development
New Business/ Underwriting
Customer Service
Life Claims & Annuity Benefits
Investment & Risk
Management
Sales and Distribution
Business Partner ManagementBilling and Payments
Reinsurance, Actuarial, Document Management Human Resources, Financials, Treasury, Procurement, Legal and Compliance
Technology Platform
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
New Business Individual Life
Individual
ProductLead Application
Policy
Commission Contract
Claim
Payment
Invoice
Sub-ledger
General Accounts
TreatyIllustration
Prospect
Opportunity
Campaign
Sub-claim
Product Type
Cost Center
GL Account
Premium Type
Coverage Type
Reserves
Separate AccountsGroup
Organization
Bank Account
Prim
ary
Supp
ort
Product Development
New Business/ Underwriting
Customer Service
Life Claims & Annuity Benefits
Investment & Risk
Management
Sales and Distribution
Business Partner ManagementBilling and Payments
Reinsurance, Actuarial, Document Management Human Resources, Financials, Treasury, Procurement, Legal and Compliance
Technology Platform
Analyze Needs
Create Initial Illustration
Create Application Underwrite Bind Issue
PolicyCreate Invoice
Process Payment
Pay Commission
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
New Business Individual Life
Individual
ProductLead Application
Policy
Commission Contract
Claim
Payment
Invoice
Sub-ledger
General Accounts
TreatyIllustration
Prospect
Opportunity
Campaign
Sub-claim
Product Type
Cost Center
GL Account
Premium Type
Coverage Type
Reserves
Separate AccountsGroup
Organization
Bank Account
Prim
ary
Supp
ort
Product Development
New Business/ Underwriting
Customer Service
Life Claims & Annuity Benefits
Investment & Risk
Management
Sales and Distribution
Business Partner ManagementBilling and Payments
Reinsurance, Actuarial, Document Management Human Resources, Financials, Treasury, Procurement, Legal and Compliance
Technology Platform
Issue Policy
Pay Commission
Issue Policy
Participants Determination
Commission Case
Commissions Calculation
Post commission results
Calculate Target Agreement and
Bonuses
Correspondence
Payout commissions
Settlement
Commission Contract
UnderwritingUnderwriting CommissionCommission Business PartnerBusiness Partner PaymentPayment
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Life Insurance Products Templates
Fixed and TermFixed and Term
Variable LifeVariable Universal Life
Variable LifeVariable Universal Life
VariableVariable
Term LifeWhole LifeUniversal LifeAccidental DeathOccupational Disability
Term LifeWhole LifeUniversal LifeAccidental DeathOccupational Disability
Enhancement of sample products for a faster implementation.
Immediate AnnuityDeferred Annuity
Immediate AnnuityDeferred Annuity
AnnuityAnnuity
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Continuous Development and Improvement
2005 2006 2007 2008 2008 +
FS-PM
2.0 3.0 3.1 5.0 *4.0
Fixed & Term
Further Internationalization
Basis
Foundation / 1. Version
Focus Standard Release / Shipment
Enhancements / cont. Impr.
Variable
Life
Beta Shipment to Development Partner*Note: Release Plan may change without prior notice
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
SAP for Life Insurance
Agent Portal
SalesManagement
CustomerService
Illustration
Policy Administration
Billing & Payments
Reinsurance
Investment & Risk Management
Life Claims & Annuity Benefits
Human Resources
Financials
Treasury
Procurement
Legal & Compliance
Business Partner Managment
Technology Platform
Core Business Sales & Distribution Back Office
Analytics
Commissions
New Business/Underwriting
Product Development
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Front-end and
multichannel
Role-specific OptimizationFl
exib
ility
Stab
ility
ESOA is at the Core of SAP’s Vision
Collaboration and
process management
Business functionality
and enterprise services
SAP: Generic and FS-specificComponents
PortalDesktop Mobile Forms Voice
Enterprise ServicesRepository
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
ESOA Become the Common Language
Enterprise Services establish a common and stable service contract between business and IT, while allowing "strategic decoupling"
IT Strategy (Optimize)
Business Strategy
CreateIllustration
ProcessNew Business Underwrite Bind &
Issue
Create_ApplicationCheck_Customer
Check_Risk
BusinessIntent
ITImplementation
Create_PolicyCreate_Reserve
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Agenda
SAP for Life Insurance Companies
Value Proposition
Demo
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Value Proposition for Life Insurance Carriers
Configurable system
Reduce product development cycle time
Increase speed to market
Straight through processing
Improve data integrity
Lower cost of ownership
BusinessValue
IT Value
Reduce integration cost
Eliminate data redundancies
Reduce maintenance cost
Simplify application landscapes
Reduce training cost
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Life Insurance Companies Run SAP
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
SAP for life insurance
“Future proof” Core Systems
Automation
Reduced Total Cost of Ownership (TCO)
Flexibility
Improved Functional Capability
Straight through processing
“SAP has developed applications specifically for the insurance industry, which we believe will enable us to achieve our internal goals and gain a competitive advantage.” Mitchell Graye, Executive VP and CFO Great West Life & Annuity Insurance
“
Value Proposition – Conclusion
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Agenda
SAP for Life Insurance Companies
Value Proposition
Demo
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Demo – Policy Administration and Commission
Search policy
Commissions Calculations
InquiryCash Values
Additional Deposit
InquiryCash Values
Payout commissions
Settlement
Portal Policy Commissions Payment
Search policy
Premium Payment
Fund Investment
DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA
Contacts
Anja VolkenandtIBU Insurance
SAP AGGroßer Grasbrook 17D-20457 Hamburg
M +49 170 – 8555859E [email protected]
Robert SchwartzIndustry Principal
SAP America3999 West Chester PikeNewtown Square, PA 19073
T 860-794-6440E [email protected]