SAP Reinsurance Management 7.0 has successfully completed the Ramp-Up Phase: all customers can take now advantage of this new State of the Art – running on SAP HANA – release.
SAP Reinsurance Management (FS-RI) supports the management of assumed and ceded risk portfolios, through treaty administration for proportional and non-proportional business. The application also supports the handling of claims and delivers functionality for technical accounting. Automatic retrocession can also be processed as a standard functionality.
For the ceded business an on-line interface with the front systems (Policy and Claims Management) enables the simulation of capacity required to affront the possible maximum loss, determining which portion of the risk should be further ceded.
State of the Art
Running on SAP HANA, SAP FS-RI 7.0 accelerates batch processes and provides the ideal platform to optimize performance and approach new business areas through innovative solutions. HANA Live content for FS-RI has been already planned and is currently under design with the aim to be roll out to the customer in the coming months. Additionally, first efforts towards Reinsurance High Performance Applications have been undertaken already.
New Release Strategy
Following SAP’s Strategic Goals: deliver our customers higher business value & innovation without disruption, starting from FS-RI 7.0 a new release strategy for early adoption of newly developed functions and features is planned.
On completion of the 7.0 Ramp-Up Phase functional enhancements to 7.0 will be delivered in Support Packages.
The new Release Strategy presents the following advantages/benefits:
- Faster Innovation without Business Disruption – Support Packages enable the delivery of new functions in a short timeframe, making them available without the need for a new software version. (Support packages will be delivered at Intervals of 3 – 6 Months compared to the current development strategy which foresees new releases every 1-11/2 years)
- Lower Costs – The cost/effort required for applying Support Packages is lower than the cost/effort associated with upgrading the software to a new release version.
Language and Country Availability – EMEA, APA, AMERICAS
Insurance Companies seeking for optimized risk procurement and management
Reinsurance companies seeking to optimize reinsurance administration efficiency
Four global brand companies have already decided to go for the new release. Gen Re in North America has successfully deployed the solution and three other in EMEA, namely, Munich Re, Hannover Re and Zurich Insurance Group are currently up grading to the new version. With these four customers moving towards SAP Reinsurance Management 7.0, the Ramp-Up key performance indicators (KPIs) are overachieved.
With SAP Reinsurance Management 7.0 fully delivered to the market, it is now important to turn our focus on Field execution. Now is the time to ensure that your customers benefit from the value and success of SAP Reinsurance Management 7.0. We have worked hard this year, we are proud of our achievements, and we look forward to working with you in the future.