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Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
Delivering Real-Time Business Value for Insurance
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Delivering Real-Time Business Value for Insurance

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This deck is a SoH Executive positioning document in 3 parts for Insurance

This deck is a SoH Executive positioning document in 3 parts for Insurance

Published in: Technology, Business
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  • 1. July 2013 Delivering Real-Time Business Value for Insurance SAP Business Suite Powered by SAP HANA Public
  • 2. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 2Public The real-time opportunity Insurance companies must seek new competitive advantages in response to changes in customer trust, demographics, and demands as well as profit margins reduced by higher capital requirements, compliance costs, and prize competition.  Create new and innovative products that excite customers  Respond rapidly to evolving trends  Develop flexible, efficient, and cost-effective business processes
  • 3. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 3Public Delivering the future of insurance today Business priorities in insurance Market insight and customer intimacy  Convert loyalty into revenue by utilizing predictive analytics  Focus on the right markets by gaining insight into customer analytics  Get a true 360-degree view on the customer Insurance operations  Speed up information flow in planning, forecasting, simulation, and pricing  Maximize transparency for closed-loop fraud processing Finance, risk, and compliance  Accelerate the closing process  Achieve real-time visibility of access and process risks  Maximize cash-flow efficiency
  • 4. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 4Public SAP Business Suite powered by SAP HANA The next-generation business platform Real-time business In-memory Business transactions Digital connections Collaborative business CloudSocial Big DataMobile One platform bringing it all together Advanced analytics
  • 5. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 5Public Industry value map for insurance Enabling the customer-centric insurer Procurement Market Insight and Customer Intimacy Customer and Multichannel Management Marketing Management Sales and Service Management Sales Force Management Finance, Investments, and Compliance Strategy, Planning, and Consolidation Governance, Risk, and Compliance Accounting and Controlling Investment and Asset Management Core Insurance Operations Product and Policy Lifecycle Claims Lifecycle Reinsurance Lifecycle Billing and Payments People and Talent Core Human Resources and Payroll Talent Management Time and Attendance Management Workforce Planning and Analytics Supplier Discovery and Lifecycle Management Strategic Sourcing and Contracting Procurement and Order Collaboration Collaborative Invoice to Pay IT Management Application Lifecycle Management IT Infrastructure Management IT Portfolio and Project Management IT Service Management IT Strategy and Governance Technology Solutions Analytics Consumer ExperienceData Management Enterprise Mobility SAP HANA Platform Application Development and Integration
  • 6. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 6Public Industry value map for insurance Enabling the customer-centric insurer Procurement Market Insight and Customer Intimacy Customer and Multichannel Management Marketing Management Sales and Service Management Sales Force Management Finance, Investments, and Compliance Strategy, Planning, and Consolidation Governance, Risk, and Compliance Accounting and Controlling Investment and Asset Management Core Insurance Operations Product and Policy Lifecycle Claims Lifecycle Reinsurance Lifecycle Billing and Payments People and Talent Core Human Resources and Payroll Talent Management Time and Attendance Management Workforce Planning and Analytics Supplier Discovery and Lifecycle Management Strategic Sourcing and Contracting Procurement and Order Collaboration Collaborative Invoice to Pay IT Management Application Lifecycle Management IT Infrastructure Management IT Portfolio and Project Management IT Service Management IT Strategy and Governance Technology Solutions Analytics Consumer ExperienceData Management Enterprise Mobility SAP HANA Platform Application Development and Integration Initial focus for SAP Business Suite on SAP HANA
  • 7. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 7Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Customer and multichannel management Business value for contact management with interaction center  High volume of customer records and interactions result in increased search times and greater difficulty locating specific customer records.  Customers demand consistent service across channels.  When responding to social media queries, service reps struggle to get all relevant customer information, leading to inefficiency and dissatisfaction.  Searches in the interaction center ‒ including account searches, interaction history, and the customer fact sheet ‒ are significantly faster  Quickly identify customers and get a complete 360-degree view in real time  Route all inbound communications to the best resource Increase calls handled by call center by 6% Improve Reduce first-call resolution and customer satisfaction by 97% service cost With SAP Business Suite on SAP HANA
  • 8. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 8Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Marketing management Business value for marketing  Missed market opportunities due to lack of visibility and inefficient processes  Data explosion, driven by new level of connectivity of consumers using mobile devices and social networks  Data in disparate data sources, which prevents true 360-degree view of the customer  Agile marketing to respond faster to changing market dynamics and opportunities  New analytical data-mining functionalities on Big Data (social media, predictive)  Near real-time monitoring and reporting on marketing performance  One central place for collecting all customer data leading to 360-degree view of customers in real time  Precision marketing to personalize every interaction with the customer Improve profitability by 0.5% Optimize Increase return on marketing investments by 15% customer satisfaction by 30% With SAP Business Suite on SAP HANA
  • 9. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 9Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Sales and service management Business value for sales  Difficult to identify profitable customers from customer pool  Inability to identify gaps in sales pipeline leading to missed targets  Difficult to extract actionable information from the enterprise-wide customer data to maximize the chance of a sale  Minimal insight into buying preferences of customers in social data context  Easier identification of profitable customers with account intelligence analytics  Faster transaction search capabilities  Complete transparency into sales pipeline (for example, in commercial banking) based on real-time information with unlimited drill-down functionalities  Real-time analysis of Big Data to better understand buying patterns  Real-time access and assembly of all data including social sales data Improve profitability by 0.5% Increase Improve percentage of sales reps achieving quota by 17% offer win rate With SAP Business Suite on SAP HANA
  • 10. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 10Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Strategy, planning, and consolidation Business value for planning, budgeting, and forecasting  Planning performance limited to OLAP, staged cubes for transactional and master data  Data load performance is driven by the amount of data extracted from SAP Business Suite  Reporting, loading, and retraction performance limits planning iterations  Drilldown within OLAP cube, and drill-through to SAP Business Suite and OLTP data within standard times  Seamless replication of master and transactional data from SAP Business Suite  Availability of more granular data to support planning  Big Data challenge negated, allowing for faster extract and DSO activation times  Iterative planning and real-time simulation supported through improved performance  Improved performance for drilldown (expand) and consolidation (collapse)  Fast drill-through and live view of transactional data in SAP Business Suite Improve service level performance Reduce Minimize cycle times and manual effort by 9% operating costs 15% With SAP Business Suite on SAP HANA
  • 11. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 11Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Governance, risk, and compliance Business value for access control role analytics  Most companies face a high volume and ongoing increase of unused and orphaned roles.  Scheduled batch jobs are required to analyze a transaction log with millions of records (such batch jobs usually take hours to complete).  The cost of ongoing role maintenance can be high – one customer estimated active ERP role maintenance costs at about US$4,000 annually.  Unused roles and orphaned roles constitute unneeded access risk to the organization (and possible compliance issues).  Conflicts associated with segregation of duties arise from continuous monitoring of access risks.  Accelerated analysis of role usage to isolate unused and orphan roles  Deeper insight into roles for uncovering any potential risk for the organization  Role usage and assignment information provide valuable insight to business executives during business reengineering and reorganization  Trigger the assigned workflow directly from the analysis to remove unused roles assigned to users  Expose orphaned roles across the system landscape quickly to begin the decommission process Identify unused and orphaned roles Consolidate Reduce most-frequently used (active) roles noncompliance and overall access risk With SAP Business Suite on SAP HANA
  • 12. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 12Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Accounting and controlling Business value for entity close  Long-running processes  Time-intensive reconciliations  Limited time for analysis  Inefficiencies due to manual processes and low automation  Missing financial excellence results in higher cost of equity at the capital markets  Difficulties in supporting parallel financial reporting standards on a global basis and in simulation of scenarios  More time for analysis; less overtime; earlier publishing of financial results through faster period-end processes and better reconciliations  Increased efficiency through smarter reconciliations and reporting, reducing operating costs and improving stakeholder satisfaction  Real-time analytics down to the lowest level of detail – delivering quality, transparency, and process efficiencies Reduce time to close the entities’ books by 13% Reduce Enhance cost of finance by 15% compliance and accuracy by 18% With SAP Business Suite on SAP HANA
  • 13. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 13Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Accounting and controlling Business value for financial and managerial reporting  Risk of noncompliance due to unfulfilled (overruns in) audits  A lot of data; decision-relevant information not readily available  Data analysis not supported or automated  Long-running batch jobs/reports  Time-intensive data analysis  Large number of time-consuming and non-value-added processes required to access and provide accurate, up- to-date information  Timely execution of compliance- relevant validation tasks  Increased end-user satisfaction (accurate, detailed, visualized, timely, and actionable information)  Acceleration of key critical-path processes and reports  Instant response time on most data- analysis queries  Elimination of workarounds and data latencies  End-user data analysis through self- service means Improve service level performance by 18% Reduce Reduce month-end closing time by 12% operating costs by 17% With SAP Business Suite on SAP HANA
  • 14. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 14Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Accounting and controlling Business value for profitability and cost analysis  Data latencies and process delays impact the ability to react to issues/ opportunities.  Lack of data depth and user self- service affect internal decision making.  Long-running processes  Time-intensive data queries  Mostly manual data analysis  Substantial amount of time and effort on processes that do not directly add value  Suboptimal resource efficiency and effectiveness  Timely execution of critical business processes supports decision making and increases the ability to swiftly act (insight-to-action) in dynamic market environments.  Critical transactions and calculations run quickly  Instant response times on queries  Prebuilt analytics automates the data analysis process  Leaner processes from data capture through data analysis  Increased productivity through process-optimized analytics and mobile support Improve service level performance by 17% Reduce Minimize cycle times and manual effort 4x operating costs With SAP Business Suite on SAP HANA
  • 15. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 15Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Accounting and controlling Business value for shared service framework for finance  Vendor, customer, and employee queries generate a high load on the shared services organization (SSO). This demands an extremely efficient working environment for agents in the SSO.  Agents in an SSO spend a lot of time searching for vendor, customer, and employee data.  Shared services organizations are under constant pressure to improve the quality of service and to lower the costs of providing those services.  SAP HANA-based acceleration of inbox performance speeds navigation within the inbox. It allows the agents in the SSO to review and prioritize their work more efficiently.  Faster identification of vendors, customers, and employees allows the agent to provide more responsive service, which leads to improved satisfaction of the agents and the clients of the SSO.  Reduced costs and faster response times allow the SSO to meet its service level agreements, meet its budget objectives, and improve its KPIs. Increase productivity for shared services agents by 15% Improve Reduce employee satisfaction overall costs of delivering services With SAP Business Suite on SAP HANA
  • 16. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 16Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Core human resources and payroll Business value for payroll processing  Responses to management ad hoc inquiries about trends of high volume payroll information cause significant costs to HR IT.  Business users have a very limited ability to analyze payroll results.  Addressing employee inquiries about payroll is time consuming and expensive while HR is under pressure to increase the quality of service provided to employees and to lower the costs of providing those services.  Free up HR IT resources to focus on the execution of organizational strategic tasks  Leverage thresholds as a steering mechanism to optimize business performance  Simplify payroll data analysis with optimized representation of data  Slash time needed to access and analyze critical payroll information with SAP HANA-based high-speed read access  Increase employee productivity and satisfaction with faster response times to employees Increase productivity of users responsible for payroll management 10% Improve Reduce employee satisfaction overall costs of payroll processing With SAP Business Suite on SAP HANA
  • 17. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 17Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Core human resources and payroll Business value for effective shared services delivery  Employees direct queries to the shared services organization (SSO) and expect to get prompt, accurate answers.  SSO agents spend time searching for employee data using employee identification.  SSO agents are under constant pressure both to improve the quality of service provided to employees and to lower the costs of providing those services.  SAP HANA-based acceleration of inbox performance speeds navigation within the inbox, allowing the SSO agents to review and prioritize their work more efficiently.  Faster employee identification allows the agent to provide more responsive service, which leads to improved employee satisfaction.  Reduced costs and faster response times allow the SSO to meet its service level agreements and budget objectives and to improve KPIs. Increase productivity for shared services agents by 14% Improve Reduce employee satisfaction overall costs of delivering services With SAP Business Suite on SAP HANA
  • 18. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 18Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Time and attendance management Business value for time and absence calculation  Responses to ad hoc inquiries from management about trends of high- volume time information causes significant costs to HR IT.  Business users have a very limited ability to analyze time evaluation data.  Addressing employee inquiries about time is time-consuming and expensive while HR is under pressure to increase the quality of service provided to employees and to lower the costs of providing those services.  Free up HR IT resources to focus on the execution of organizational strategic tasks  Leverage thresholds as a steering mechanism to optimize business performance  Simplify time evaluation data analysis with optimized representation of data  Slash time needed to access and analyze critical time information with SAP HANA-based high-speed read access  Increase employee productivity and satisfaction with faster response times to employees Increase productivity of users responsible for time management Improve Reduce employee satisfaction overall costs of time management With SAP Business Suite on SAP HANA
  • 19. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 19Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Workforce planning and analytics Business value for transactional analytics  Translation of organizational strategy into HR metrics requires significant effort or special expertise.  Decisions are often based on hunches.  Difficult to zero in on underlying transactions from high-level key performance indicators  Time-consuming data loads in traditional reporting tools  Integrated and personalized cockpits that provide insight into metrics that matter most  Leveraging of thresholds as a steering mechanism to optimize business performance  Powerful predefined workforce and time management-related KPIs for managers, with the ability to navigate into details  Embedded analytics inside business transactions  Prebuilt virtual data models for real- time transactional analytics  Simplified architecture Increase revenue per employee by using analytics to identify strategic advantages 20% Optimize Reduce your business with reliable real-time HR data time and costs of operational reporting With SAP Business Suite on SAP HANA
  • 20. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 20Public Today KPI improvements are high-level estimates and will have to be validated for each customer situation. Procurement and order collaboration Business value for operational procurement  Missing real-time insight into operational procurement reporting  Inability to dynamically create operational procurement-related reporting in a modern user interface  Slow and costly paper-based processes  High transaction costs  Long-running transactions while posting documents with high volume of line items  Frequent errors yield to maverick spend  New configuration options for procurement analysis  Modern and easy-to-consume user interface  Complete visibility into end-to-end procurement activities  Real-time insight and easy-to- manipulate information  Accelerated long-lasting processing of purchasing documents Increase transparency Lower Increase procurement operations cost by 17% process effectiveness by 12% With SAP Business Suite on SAP HANA
  • 21. © 2013 SAP AG or an SAP affiliate company. All rights reserved. 21Public Next step Business scenario recommendation and value discovery workshop  SAP offers a proven methodology and approach to discover the customer-specific business improvement areas and quantify value potential.  We suggest such a workshop with your line-of-business and IT experts.  As a starting point, we recommend a performance and usage analysis of your current software system.
  • 22. © 2013 SAP AG or an SAP affiliate company. All rights reserved. Thank you

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