SAP FOR LIFE INSURANCEfm.sap.com/pdf/9625/SAP - Life Insurance Mgmt_Robert Schwartz and... · SAP...

DISCOVER THE POTENTIAL | SAP AMERICAS INSURANCE FORUM | NOVEMBER 12-14, 2007 | MIAMI, FLORIDA

Robert Schwartz / Anja Volkenandt

SAP FOR LIFE SAP FOR LIFE INSURANCEINSURANCE


Agenda

SAP for Life Insurance Companies

Value Proposition

Demo



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.”


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


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


Customer Service


Investment & Risk

Management


Business Partner ManagementBilling and Payments

Reinsurance, Actuarial, Document Management Human Resources, Financials, Treasury, Procurement, Legal and Compliance

Technology Platform


New Business Individual Life

Individual


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


Organization

Bank Account

Prim

ary

Supp

ort

Product Development


Customer Service


Investment & Risk

Management




Technology Platform

Analyze Needs

Create Initial Illustration

Create Application Underwrite Bind Issue

PolicyCreate Invoice

Process Payment

Pay Commission


New Business Individual Life

Individual


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


Organization

Bank Account

Prim

ary

Supp

ort

Product Development


Customer Service


Investment & Risk

Management




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


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


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


SAP for Life Insurance

Agent Portal

SalesManagement

CustomerService

Illustration

Policy Administration

Billing & Payments

Reinsurance

Investment & Risk Management


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


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


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


Agenda


Value Proposition

Demo



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


Life Insurance Companies Run SAP


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


Agenda


Value Proposition

Demo



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


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]

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