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SAP can help insurance companies to drive profitable sales of innovative products by reducing time-to-market for tailored insurance products and optimizing sales force operation and organization. Operational costs can be reduced by streamlining end-to-end core insurance processes for all major lines of business.
The solution supports informed business decisions and transparency by providing real-time insight into insurance operations and pro-active management of enterprise-wide risk and compliance.
Today's treasury processes are highly integrated and automated. This makes it necessary to monitor these processes closely and react quickly on alerts and workflow approval requests (for example, approval for deal settlement).
Mobile claim handlers will receive all necessary information at their fingertips, such as customer and detailed contract information and payment status, to most efficiently capture and directly settle claims on the road.
For decision making, an insurance CFO or an asset manager needs to be constantly updated about the latest financial key figures and the financial portfolio. The latest results of market risk analysis are especially important key indicators.
“Me@my Insurance” provides insurance customers an up-to-date overview about their insurance coverage at any time and any place. In addition, customers are supported with claim capture features, including tracking of the claim status and premium payments via a mobile device.
Executives and line of business managers need access to key performance indicators, such as revenue, claim ratio, renewal rates, combined ratio, and so on, anytime, anywhere.
Insurance sales agents are mobile by nature of their business. Mobile technology helps agents to service customers in the selling and claim handling process to increase overall customer satisfaction and sales revenue.
Late loss reports, incomplete data, and insufficient business networks lead to high claim handling and claim regulation costs, while proactive claims management enables cost reduction and increases service levels.
Immediate assistance at the point of claim is needed by multi-service providers to ensure reduced claim handling costs.
Insurance sales agents are mobile by nature of their business. The SAP Policyholder Lookup mobile application enables Insurance sales agents to access policy and claim details of policyholders anywhere and anytime. Having this insight enables insurance agents to better manage and grow the business.
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