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 still improve our profitability if we invested more in mergers and acquisitions?
In today’s competitive market, leading-edge insurance companies need complete transparency into the profitability of their products, customers, and business units. Insurers need to turn data into decision-relevant information– and they need to do so as quickly as possible. Insurers need a business data aggregator that integrates operational systems, data warehouses, and other systems, without the need for data replication. In an industry where time is of the essence, insurers need these detailed insights delivered now.
SAP Performance Management for Financial Services is a powerful platform that analyzes big data volumes and applies financial models, including the comprehensive “what if” scenarios that are essential to making strategic, informed business decisions. SAP Performance Management for Financial services allows insurers to process cost and profit allocations for large volumes. The platform uses sophisticated calculation and allocation rules of actuals, forecast, and planning in real time. From allocation models to forecast planning and modeling, SAP delivers the critical insights insurers need with a click of a mouse.
Two Minutes of Essential Viewing: Short Demos Introduce Allocation Models, Forecast, and Planning for Insurers
Introduction to SAP Performance Management: See for yourself the power of SAP at work for insurers. Familiarize yourself with the platform’s different components, including the Business Data Aggregator, the Calculation Engine, and the Simulation Application, which provides real-time data insights into the current situation and possible future outcomes while managing all aspects of your company’s performance. All this is powered by SAP HANA, either onsite or in the cloud, leveraging up to thousands of computing cores at the same time. See how SAP provides the sophisticated, flexible configuration and modeling functionality your insurance business needs to stay competitive. Watch the 2-minute demo here.
Allocation Models: See how SAP allows you to process calculation runs in just a few steps and address unassigned items immediately, without having to re-run the entire process. Understand the power and speed of SAP with the execution flow diagram, which provides a clear view of the data flow through the calculation model and the structure of the calculation. See how many records are all allocated and how your business will benefit from full transparency into the most granular level of calculation– no matter how complex your calculation models. Watch 2-minute the demo here.
Forecast Planning and Modeling: SAP Performance Management for Financial Services allows insurers to create their own forecast and planning models. See how insurers can run and adjust these models at any time without having to ask the IT department for help. Learn how SAP answers questions like, “Will more investment in mergers and acquisitions compensate for the drop in your sector growth rate?” Watch the 2-minute demo here.
SAP delivers the valuable insights insurers need to make better business decisions. For more information regarding SAP’s Insurance Suite, please visit SAP for Insurance.