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Insuralytics High Fidelity Prototype

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  1. 1. INSURALYTICS Make Better Decisions. Stay Ahead.
  2. 2. Agenda Challenges Why Insurance Industry? Solution Description Harnessing Big Data Value Proposition
  3. 3. More Expense, Less Premium Global Competition Challenges Fraudulent claims Social Media absence Existing IT. No integration
  4. 4. Trends in the Insurance Industry IT Spending Global IT spending by insurance companies will reach $140.2 billion by the end of 2013, according to a report by Celent Core Business Insurers are streamlining and enhancing core administration processes with new software solutions to create products that get to market faster. Innovation Usage of “Big Data" to help them estimate claims, assets, credit and market data. Regulatory Challenges The effects of global regulations, such as SOX, GLB and Solvency II are driving Insurers to ramp up on Analytics. Cost Optimization Cost constraints & Competitive pressures are driving more Insurers to embrace Cloud technology.
  5. 5. Solution Description
  6. 6. INSURALYTICS CFO SAP’s Innovation Success for Insurers
  7. 7. Deeper Insights into Insuralytics Sentiment Analysis Big Data :-) Real-time Insurance Analytics Social Media Integration Insurance Ratio Reporting Single Integrated solution SAP HANA Cloud PLATFORM Propensity to Churn Business Alerts Solution in the Cloud Integrate different insurance solutions and place the application on cloud Dramatically improved performance for decision making from variety and volumes of structured and unstructured data Create a logical data warehouse to respond to changing business environment Fraud Data Analysis Competitor Insight Customer risk profile analysis Product Recommendation • • Usage of latest Analytic innovations like Predictive Analytics, In Memory database, Cloud and Mobile UI available on all Device Types • • Integration with existing Insurance systems like Insurance Analyzer and Insurance Suite Incorporate Social media and Big data
  8. 8. Bringing Together Business And IT Align In-Memory Computing with BI Vision And Strategy • Consolidate data from different Systems, SAP and non-SAP • Develop SHAF Models for consolidated Data • Define and Realise KPIs to measure successful Strategy Adoption Place the Solution in the Cloud leveraging HCP • This solution will provide platform-as-a-service offering • Access Insurance analytics anytime, anywhere from a broad range of mobile devices • Developers will be able to extend standard Insurance SHAF Models in the cloud Business Cockpit for Insurance • Contains reports for widely used scenarios. • New engaging and consistent experience for margin-decisive roles, allowing them to stay on top of their business • Reports are developed Using BOBJ tools, Lumira and Design Studio • Reduce TCO Address CFO needs • Analyze and Simulation capabilities • Real-time Mobile Cloud Access • Make better decisions faster anytime anywhere
  9. 9. Harnessing Big Data
  10. 10. Introducing Lifestyle Analysis A Big Data scenario Target more. Increase Revenue Adventure Trips Weekend Parties Occupation Mid-night Drive Check-In at Pubs/Discos Real-time Customer Data Real-time Validation Age Better Underwriting Decisions Other Huge social media Insurance relevant data data Cost Optimization Better Earnings
  11. 11. Bringing Telematics to Insuralytics Install telematics device Pay as-you-drive SmootherUsage process Claim Accident Vehicle Road time and Selection Speed Data distance Analyze driving skills real-time Customize policies
  12. 12. High Level Solution Architecture for INSURALYTICS Lifestyle Analysis Risk Analysis CFO Sentiment Analysis What-If Analysis SAP HANA Cloud Platform Analysis & Simulation SAP HANA Cloud Integration Cloud Social Media & Big Data Legacy Systems SAP Fraud Management SAP HANA LIVE Insurance SAP Insurance Suite SAP Insurance Analyzer Insurance Data derived from different Systems Mobile Real-Time
  13. 13. Value proposition Vision & Roadmap
  14. 14. INSURALYTICS - In line with SAP`s Vision 2015: € 2 Billion Cloud Revenue CFO using HCP connecting to SAP Insurance Analyzer & SAP HANA Live for Insurance SAP HANA Cloud Platform Analytics & Mobility in the Cloud; in realtime CFO doing Analytics & Simulation
  15. 15. Fits in Tomorrow`s Entire SAP Insurance Platform SAP Insurance Suite * & SAP HANA Live for Insurance SAP Insurance Integration ** INSURALYTICS SAP HANA Cloud Platform Mobile, Portal, Network, Analytics, Apps In-memory Infrastructure • * SAP HANA Enterprise Cloud available • ** SAP HANA Cloud Integration for INSURALYTCS • Power of SAP Insurance Suite combined with the simplicity of the cloud • Simple choice for an entire Insurance Platform with fast time to value • Mission critical operations enhanced by cloud elasticity, mobility and analytics
  16. 16. Value Proposition A Tailor made solution for the Insurance CFO Smoother mobile experience with state-of-the-art Cloud platform Timely and accurate Financial decisions Optimize cost by having a single integrated solution in the Cloud Make your presence in the social media. Understand customers better Gross Profit Optimization No solution in the market provides a similar value to the Insurance CFO Risk Coverage with Compliance to International Standards Better Forecasting & Simulation Better Cash Flow Projections Better Understanding of Market Sentiments, Insurance line of business and customer behavior INSURALYTICS Make Better Decisions. Stay Ahead
  17. 17. Product Roadmap Enterprise Insuralytics Insuralytics SP2 for Non-SAP customers Insuralytics SP1 for SAP customers Insuralytics Foundational Work 2013    Adaptation of new Insurance CFO Process management guidelines 2014   Mapping of key Insurance CFO KPIs Insurance Process Landscape brought to the next level  2015 HANA Cloud Platform environment setup.  Integration framework for Integration setup between various SAP Insurance systems and social media.  Build HANA Live models & legacy systems and social media. 2015+  Enterprise Insuralytics LIVE globally with enhanced business content, faster implementation and a smoother experience. compose Insurance reports.  Continuous Improvement Research work will continue to Usage of Big Data – Lifestyle  Continuous improvement improve the services and Analysis and telematics process with clear incorporate new features feedback channels implemented
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