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SAP for Insurance

197 Posts

Executive Summary:
The purpose of this blog is to demonstrate how the insurance solution portfolio can be sustained with Odata service technology.

Taking advantage of odata services and UI5 we can improve end user experience and productivity for our insurance customers.
Moving towards mobile and internet we'll have a chance to help our customers deal with the main disruptors in the industry today; as an example the earthquake insurance business has a modus operandi that comes to sustain the need of mobility in insurance.


Contact:

Active Global Support:
Florin Niculescu (florin.niculescu@sap.com) – Insurance Safeguarding Portfolio


OData Services Example Walkthrough:

Enter SEGW transaction, and create a new Gateway Service:

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In the DataModel Create the Entity Types:
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And set the key fields:

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Define entity sets based on created entity types:

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Under Service Implementation define service entity set for the entity set model previously defined:

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Also implement and map some of the methods that you might use in your service here: in this case I define the mapping for the flightset (between return of method and flightset entity) and implement the getentityset method:

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Based on the operation you need, for your service, you can implement them:

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Here I implemented the GetEntitySet to fill in the data:

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Generate the runtime artifacts and go to Service maintenance:

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Register your service:

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And test it (Click maintain):

Click on gateway client button to test the service:

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And then execute:

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Change the command line to get all details of returned records.

Click on EntitySets select FlightSet and Execute:

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Service is working ok, now let`s put it into SAP UI5:

In order to understand it`s components, you can look at the $metadata param:

http://dewdfglp00795.wdf.sap.corp:8000/sap/opu/odata/sap/ZSFLIGHTGW_SRV/$metadata

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Data Collections:

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Reference the service link in your sap ui5 javascript program:

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Please note that this is an URI.

Next step, complete with corresponding sap ui5 javascript code:

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Result looks like:

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And holds similar data as the database does:

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Loss ratio :
A ratio that measures losses and loss adjustment expenses against earned premiums and that reflects the percentage of premiums being consumed by losses.

Expense ratio :
An insurer's incurred underwriting expenses for a given period divided by its written premiums for the same period.

Combined ratio :
A profitability ratio that indicates whether and insurer has made and underwriting loss or gain.

Investment income ratio :
Net investment income divided by earned premiums for a given period.

Overall operating ratio :
Is the combined ratio minus the investment income ration and can be used to privide an overall measure of the financial performance of an insurer for a specific period.

Formulas :
Loss ratio = Incurred losses (including loss adjustment expenses) / Earned premiums
Expense ratio = Incurred underwriting expenses / Written premiums
Combined ratio = Loss ratio + Expense ratio
Overall operating ratio = Combined ratio - Investment income ration

SAP UI5 Example:

Below there is a link with a ui5 program created to demo the ui5 capabilities of the sap ui5 library in java script.
The simulation is done on JSON models, which can be filled in by odata content.

The business scenario is related to reporting on important insurance ratio like loss ratio, expense, combined, in order to identify underwriting gain or loss and to take measures towards business growth.
High level action interpretation for ratios is generated.

http://veui5infra.dhcp.wdf.sap.corp:8080/snippix/snippets/3261.html

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Two years ago “real time” analytics was a novel concept in insurance. The idea that business unit managers could have direct, self-service access to real-time data was a big idea.

 

Today, many insurers are still working to get their arms around these concepts. In the meantime, the insurance industry is being impacted by external forces that are changing the ways that insurers do business. For example, a recent study by market research firm Technavio states that the four biggest trends impacting the insurance industry right now are:

 

  1. 1.     The increased adoption of Big Data and analytics
  2. 2.     The intensification of cloud computing
  3. 3.     The prevalence of mobile solutions
  4. 4.     The emergence of insurance tech start-ups

 

The writing is on the wall. The increasing digitalization of … well, everything … won’t wait for the insurance industry to catch up.

So how can established insurers compete when their operations may not be as nimble as new players?


Today, it’s not just about having real-time analytics. It’s about applying real time to in-the-moment customer interactions. Real time has to operate in the real world.

 

New demographics demand new models


Let’s talk about Millennials.

 

Perhaps no other force is driving change in insurance like the rise of the Millennials. They’re demanding new channels. Unlikely to pick up the phone and call an insurance agent, Millennials are more inclined to research what kind of coverage they need, comparison shop, read carrier reviews, and make purchases online. Waiting an hour for a quote could be dealbreaker.

 

Once they’ve purchased a policy, they probably want to be able to manage their accounts online, get real-time access to chat with representatives, and have visibility into the status of their claims.

 

All of this requires an intricate dance of coordinating front- and back-office operations to provide a seamless customer experience.

 

Established insurers can have a significant advantage in reaching more digital-savvy demographics – if they know how to capitalize on the massive data stores that they’ve amassed to create new and compelling products that are delivered and serviced in an efficient way.

 

Data wrangling, simplified


Real-time analytics, using a single source of data, can be the key to helping insurers sync digital operations on the customer side and the employee side.


Data visualization tools that operate from a single source of information, such as SAP BusinessObjects Lumira software - which runs on the powerful SAP HANA platform - can help enable real-time visibility throughout insurers’ operations.


In the back office, insurers can identify and address bottlenecks in claims, applications, and underwriting. In the front office, insurers can attract and delight customers who expect a smooth and coherent experience. Using the SAP Business Objects Cloud solution, insurers can use historical data to simulate operations in real time and forecast results based on changing cost drivers.


With the right tools, established insurers can meet the digital demands of today’s in-the-moment market, right now, in real time.


For more information, please visit us at SAP for Insurance

Introduction


PBT which is ‘Policy Base Technology’ is the base development framework for FS-PM. It has been woven together with remarkable OOPs concepts along with other components.  For an entrant into FS-PM, the world of PBT within the transaction '/PM0/3FW_START' seems cryptic at times. At times the key to understanding and working with it is to have a simplistic view. This blog is an effort in that direction.


Layers


PBT is comprised of various layers. Each layer has its specific purpose and utility. This enables the development to focus on a specific set of tasks within the periphery of each layer. The layered approach is not too different from the usual programming practices in SAP.


DB layer


This is the layer which deals with the transparent tables and their associated actions. The tables are created within the data dictionary. These tables are then introduced as a Persistence Model object. A class called the data access agent is created around this table. This will cater to CRUD and caching functionalities for the concerned table. At runtime this is the class that is instantiated to cater to all operations around the respective table. At this stage the persistence model still represents a more technical representation of the object. 


Business Object Layer


Entity model


The persistence model need to begin having a more semantic meaning for its existence. This process begins in its linkage within an Entity model. An Entity may comprise of 1 more Persistence (tables) Models. Within the various process we think and deal with these Entities basically. Most of the times the Entity is comprised on just 1 Persistence model. E.g. Policy holder. However like in the case of Coverage Entity it is comprised of a set of persistence model. This allows storage and management of differential data of coverage based on LOBs along with the common portions.


Business Object


At this stage the system has in its dispensation a set of Defined Entities. However there aren’t related amongst themselves. A business object is crafted which defines these relationships amongst the various entities.  A corresponding pure Computer Sciences concept that has resonance here are the ER (entity relationship) Diagrams. This Business object can then be brought alive (instantiated) and consumed during business process. FSPM has predefined set of Business Objects (BO) within the system .The prominent business object of them is the Policy BO. This formation influences both the possibilities and the constraints on the sort of operations that can be done with a Policy itself. For E.g. the Policy holder entity is a child of the root entity of Policy itself. Thus policy holder can be operated upon directly as a child of the Policy entity and not an alternative main axis element. This product engine product models also need be aligned within the available structures of the Policy BO. At runtime the BO instance is to be generally considered the single source of latest data. And so data is usually read to and fro from it.  FSPM provides a many central services via the BO model e.g. commit and rollback. Within a business process multiple BO’s can be loaded and worked upon. This is evident when correspondence (which is a BO in itself) is handled during the Policy (Policy BO) processing related business processes. It is not too often that implementation project and customer makes changes in the BO Layer.


Process Layer


The layers discussed have a broad spectrum. They sort of represent the infrastructure and the base. In practical terms we think in terms of specific tasks/processes at hand. Invariable these tasks will have an algorithm or a flowchart at hand. This is where the process layer come into the picture.


Process Model


It is easily the nervous system of the FSPM world with PBT . The algorithm or a flowchart at hand can be translated into the system via this component of PBT. This is for a specific process of interest. This is the portion that stiches all the other components of the PBT world together. Thus all the others components come into play due to the modelling in the process models. An amiable feature is that one can view this logical flow of the process model visually. Such a facility is also available for the other models within PBT. Process Models also allows one to read the minds of the creators of existing process models to some extent. Thus one can get a jumpstart into understanding existing transactions and processes. Thus a process model is a step by step representation of the flow of logic for a particular process. These steps can be core code logic (classes/methods), dialogs, other models, system dialogs, cycles, hierarchy, branching’s etc. PBT doesn’t impose stringent rules on the modelling approach. There are few rules and basic guidelines. 


Sub controller Model


This is a component that deals with the organisation of the dialog.  It allows the modelling of the look and feel of the screen itself. The dialog/sub controller models can be created and reused in many process model if required. In an MVC construct this component represents the ‘View’. The user can focus totally on the display. The se51 screens are attached within the dialog model. PBT provides for a set of classes which make the programming of the screen related UI elements usage much easier. There are few protocols that need to be followed with regard to the screens usage. For example we do not usually do the classical screen programming within the PBO/PAI modules. A placeholder for such code with in a component called the process context. There is a concept of constraint class that allows a runtime decision of the display or hiding of the respective sub controller node.


Process context


This is a like a bubble around each of the sub controller nodes. They can control the UI related behaviour for the sub controller node it is set for. The control can be in form of data display, data retrieval, Screen properties, reactions to actions etc.


Channel Layer


The channel layer consists of the channel model. This component allows setting up of basic attributes of the fields in the various entities. These attributes could be the default display settings, IFBC relevance, product engine relevance and mapping etc. Along with this it is possible to define and generate other structures that can influence other processes. The channel structure is the equivalent of the screen structure that is used in common ABAP programming. The field modifiers structure will carry the screen attributes. What is evident from this is that the channel model allows definition of the ‘Carriers of information’ of both the data and its attributes.


Conclusion


The onus here has been look into the fundamentals and the broad concepts. There are many more concepts which come into light when involved when investigated deeply. As it was mentioned earlier due to the visual modelling approach with PBT it isn’t too difficult to pick up a process and start digging. Give it a try and soon you will start appreciating its architecture!

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The booths have been broken down, Coldplay has packed up its drums, and attendees from around the world have returned home from SAPPHIRE NOW, bursting with new ideas and experiences.After I updated you from the show floor about the great sessions for the insurance industry, we closed out the last day of the conference with two sensational sessions about the impact of the digital transformation on the insurance industry, from both a macro and micro perspective.

 

First we had a panel exploring the digital transformation and its impact on financial services. The featured speakers were incredible: Hans van Wuijckhuijse from Ageas, Jonathan Ridgwell from JP Morgan Chase & Co, and Will Shupe from BB&T. The panel was led by David O’Malley from SAP, who described the group as “Some of the most progressive minds today that are leveraging SAP for their digital journey.”

 

On the topic of digital transformation, van Wuijckhuijse brought a great perspective specific to the insurance industry. He said, “The insurance business is one of the most conservative businesses in the world…We have automated but we haven’t really changed.” But he commented that today, “It is all changing in a very fast way. Where a customer in the past would go to a broker or an agent, he is now shopping around at forty or more touchpoints before he buys something. Those touchpoints are everywhere. This is changing, in a fundamental way, how we have to face our customers and do our business.”

 

Ridgewell noted that, especially at JP Morgan Chase & Co, it would be impossible for them to do the work they do today without technology, and said that the key measure of success for his business is efficiency. Shupe agreed, and said that at BB&T they have a saying around the office, “IT is like the engine in a racecar. How well IT runs is how well the business runs.”

 

The men were asked what they saw in the future for their businesses. Speaking about the insurance industry, van Wuijckhuijse said that he believed complicated products will get simpler, with customers only buying what they need, and that a lot of protection products will transition into a service. He finished by noting that the most important KPI is to prepare the business to proactively respond to changes.

 

The other session provided an in-depth view on implementing SAP solutions and how to attain an integrated, analytic view of customers, finance, and, operations. Rob Heatherington, global GM for financial services at SAP, spoke with Christine Moritz, CFO of Empower Retirement, a subsidiary of Great West Financial. Under Moritz’s guidance, Empower uses a wide range of SAP solutions for external financial and management reporting, as well as internal analytics and data. Moritz noted that SAP solutions have worked well for Empower because they integrate well, and grow as the company grows.

 

The conversation quickly moved to data and reporting. As Moritz said, “Margins are getting smaller, so better data on what is driving costs is important.” She added that finance needs to provide good data so business leaders can make better decisions, and she believes that the company’s SAP solutions enable that.

 

Moritz also shared some great advice about implementing a new solution. She said first it’s important to have a good, clean test environment with good data. Then you need to bring everyone together – finance, IT, operations – and make sure everyone is on the same page. Moritz believes that bringing the users in early can be a big benefit in the long term.

 

It was a great final day for the insurance industry at SAPPHIRE NOW, and the perfect way to wrap up our most-attended event ever. I hope you’re as filled with ideas as I am. Please view more of the SAP for Insurance SAPPHIRE NOW presentations here (search word ‘insurance’) and share your feedback.

 

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Context: SAP for Insurance -> FS-PM -> Master Policy -> Generic Entity


In master policy, nodes like creditor, beneficiary, commissioner, broker etc., have been implemented by generic entity.

Any additional entities can be modelled by the customer as generic entity. The advantage is that quite a lot of coding (reading, persisting to DB etc.) are handled by the generic entity framework.



When a customer wants to create a new generic entity, one has to enhance the DB, relevant channel structure, field modifier structure, ranges structure etc.

So, one has to know the right structures to enhance these.

 

To simplify this process, one could have a wizard or a tool that enhances generic entity structures, something like EEWB of Insurable Object.

The advantage here is that one need not know the relevant structures to enhance.

 

This tool could be implemented in the following manner:

The user can have the option of creating new generic entity structure with persistence and/or transient fields.

  • The red ones indicate user input
  • Based on the user input, the program would create append structure at the relevant structures
  • This would enhance, Channel Structure, DB, Field modifier and range structure
  • This would not enhance UI screen, PBT (even EEWB does not do that)

 

Persistence Fields (Channel Structure, DB Table, Field modifiers and Range Structure):

  1. Create a structure for new generic entity say, zstr (fieldname, data type)
  2. Create Append Structure zstr_app with INCLUDE zstr for structure /PMG/GE_GEN_ABAGGEN_S with an alias ap1
  3. Create Append Structure zstr_f (fieldname, /PM0/3FJ_FIELDMODIFIER) for /PMG/ABFGGEN
  4. Create Append Structure zstr_r (fieldname, /PM0/ABR_RANGES_T) for /PMG/GE_GEN_ABG_RANGE_S

 

Transient Fields (Channel Model Only, Field modifiers and Range Structure):

  1. Create Append Structure zstr_trans for structure /PMG/ABTGGEN_CI (with an alias again)
  2. Create Append Structure zstr_trans_f (fieldname, /PM0/3FJ_FIELDMODIFIER) for /PMG/ABFGGEN
  3. Create Append Structure zstr_trans_r (fieldname, /PM0/ABR_RANGES_T) for /PMG/GE_GEN_ABG_RANGE_S



To create structures, includes, append structure one could look at the attached code snippet as an example.

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It’s been an exciting first couple of days here in Orlando at SAPPHIRE NOW. I’ve had great discussions and met with interesting people from across the insurance industry, and everyone is buzzing with new ideas and innovations – and we still have a whole day left!

 

The keynote sessions have been a real highlight of the conference, bringing together attendees across industries and LOBs to discuss the big topics affecting all businesses, including digital transformation. Bill McDermott, CEO and member of the Executive Board of SAP SE, started the convention with an inspiring speech, and was followed in the afternoon by innovators in very different fields. Steve Wozniak, co-founder of Apple Computer Inc., participated in a fascinating discussion about disrupting an industry and igniting the computer revolution to change the world. Another industry disrupter, Welby Altidor, executive creative director of creations for Cirque du Soleil, gave a speech titled “Creative Courage: Challenge the Status Quo in the Era of Digital Transformation and Make Big Ideas Happen,” proving that digital innovation can happen in almost any industry.

 

Turnout  this week has been great; every part of the conference feels like it’s overflowing with excited attendees. Following #SAPPHIRENOW is a great way to see everything that’s happening, and for my colleagues who couldn’t make the conference this year it has made them feel almost like they are attending (although they won’t be able to join us tomorrow to see Coldplay in concert). Ideas are traded around like hot stock tips here in Orlando, and the energy in every room is infectious.

 

One area that has been a hotspot for ideas is the demo stations section. The demo stations for the insurance industry are covering a wide range of topics. The demo for cost and revenue allocation for financial products provides interesting insight into how being powered by SAP HANA has allowed the SAP Cost and Revenue Allocation for Financial Products application to provide real-time analysis. I was really excited by the demo for the SAP S/4HANA Finance solution, formerly known as SAP Simple Finance, which shows how the in-memory platform allows companies to optimize processes, run on-the-fly analysis, and more. There’s also a demo of the newest analytic applications from SAP – SAP Insurance Analyzer analytic applications; attendees were thrilled to see that the applications will help companies comply with new IFRS 4 accounting principles and Solvency II guidelines. Demos also cover insurance policy and quotation management, business planning and consolidation, and collections and disbursements management. If you’re down here in Orlando, be sure to stop by the demo stations before the end of the conference.

 

Attendees from the car insurance industry were very excited about new solutions that were announced down here. With the innovations in connected devices exploding with the IoT, connected cars are one of the biggest disruptors in the automotive area. SAP Vehicle Insights collects telematics data from vehicle sensors, and to maximize the usage of the data, msg-global has developed msg IoT Analyzer. Together the solutions will help insurance companies gain a competitive advantage.

 

There have been over 20 insurance-related demo theaters and interactive sessions over the past two days, and attendees are both busy and inspired. On Tuesday, there were sessions discussing e-prescriptions, promoting consumerism, visualizing future outcomes, and, of course, the topic of the year – digital transformation. On Wednesday, sessions covered rethinking the role of bots, streamlining profitability analysis, taking advantage of predictive analytics for the masses, and more. As happens every year, themes have emerged from all of the sessions, linking the unique challenges and opportunities we have in the insurance industry. Customer centricity is proving to be as important as ever, as is the collection and analysis of data. There is also a lot of talk about the necessity for insurers to reimagine their business models and operate on a platform that enables live business. And the great thing about SAPPHIRE NOW is that these discussions are happening between the people who need the solutions, and the people who are designing and providing the solutions. Watching these in


Continue to follow the action at SAPPHIRENOW, where you will find streaming live sessions tomorrow and recordings after the event ends.

Written by Stefan Schmidt

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Business networks are taking on an increasingly important role in our economy, and the numbers speak for themselves. In 2013, revenue on business networks topped USD$ 2 billion and is expected to increase by half again in three years. That’s strong growth.

 

Broadly speaking, there are three kinds of business networks: electronic data interchange (EDI), cross-industry, and vertical industry networks. At their core, all of them offer ways for buyers and suppliers to exchange documents much more efficiently than otherwise possible. But, inevitably, efficient document exchange between business partners is becoming commoditized. The result is that across models and within them as well, competition is heating up.

 

The value add


When competition heats up, the pressure is on to differentiate. Business networks are now attempting to do this by moving to more fully realized B2B business networks where additional services are offered to add value.

 

SAP Ariba falls into the cross-industry category and has been moving in this direction for years. Since 2011, the Ariba Network has been growing steadily, and today is the largest cross-industry business network out there with revenues of about USD$ 228 million in 2014 (representing about 36% of the market for this model).

 

I think that this growth has to do with the additional services and integrated partner offerings the Ariba Network offers in a number of areas. For instance, in addition to invoice and purchase order (PO) exchange, the Ariba Network also offers catalog management to present available products and services in a clear manner, Ariba Discovery to quickly find buyers and qualify suppliers, and AribaPay to allow buyers to securely pay suppliers via the Ariba Network – while eliminating the need to maintain supplier bank account information and reducing supplier payment inquiries.

 

Speed is of the essence


Insurance companies in particular are finding value in the Ariba Network. They’re also finding value in another B2B network - the SAP Financial Services Network. With SAP Financial Services Network, you can establish relationships with banks and start talking the same language in a fraction of the time it would otherwise take with lengthy implementation cycles. You can also use a business cockpit with the SAP Financial Services Network to digitize your overall financial supply chain process. This means that you can start transacting with more partners in less time and at far lower ramp-up costs – and once you’re up and running, you can manage your processes with greater visibility.

 

Our objective moving forward is to constantly increase the value of the Ariba Network and the SAP Financial Services Network in such ways so that insurance companies, corporates, and banks can work together in exciting new areas. But because business networks like the Ariba Network and the SAP Financial Services Network can make it so easy for insurance companies to establish relationships with partners and start transacting quickly, non-traditional insurance companies are starting to enter the business and capture market share. This makes getting onto these networks more pressing than ever for insurance companies. My recommendation is to move fast.

 

Want to learn more? Please visit us at SAP/insurance, SAP/Ariba, and SAP/FSN. Or find me via Twitter at @ StefanFSchmidt.

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Increasingly, there seems to be a mismatch between distant, impersonal insurance firms and ever-more demanding customers. Let’s look at how technology can help you to nurture strong, lasting relationships and provide a personalized service that delights customers just as much as – or even more than – in the “good old days.”

 

Familiarity breeds respect


There was a time when every neighborhood had its own insurance broker. As part of the community, the broker would become familiar with each customer’s situation and interests. And with “insider” knowledge about key life milestones such as getting married, buying a house, or the birth of a first child, he could offer relevant advice on a range of insurance products.

 

Long-established relationships built on familiarity and mutual respect meant that customers didn’t feel the need to shop around for their insurance, or switch to a different provider each year. They simply went to the man who knew their needs, and trusted him to find an insurance deal that would work best for them.

 

The distant insurance company


Jump forward to the present day and the situation couldn’t be more different.

Two decades of using technology to optimize processes has resulted in some key wins for insurance companies. By transferring many of its customer interactions to call centers, automatic telephone systems, and Web sites, insurance firms have undoubtedly improved efficiency and cut costs.

However, from a customer perspective, it’s arguable that service levels have never been so bad. In the absence of close personal relationships, there is now a disconnect between the customer and the insurance company.

 

Distant and “faceless” firms have no access to detailed information about the customer’s life such as what his priorities are and what life events are happening right now. So instead of approaching customers with appropriate offers that are tailored to their circumstances, companies all too often bombard people with impersonal and irrelevant marketing messages.

 

Rise of the demanding customer


Technological advances may have resulted in insurance companies distancing themselves from customers. However, in many industry sectors this has not been the case. The retail sector in particular has embraced technological tools and platforms that have enabled companies to become more intimate than ever with their customers. Some consumer goods companies even seem to know what you want to buy before you do.

 

In-depth profiling based on information gained from Internet usage and social media helps companies in other sectors to build trust and make relevant, personalized offers. Meanwhile, their customers have become accustomed to using the channel of their choice to interact with companies – be it by telephone, mobile app, or a Web site.

 

In short, customers now expect more – and if you don’t give them what they want, they’ll find someone who will.

 

Bridging the gap


The challenge for insurance companies is to rebuild the invaluable contextual information around each customer that has been lost in recent years. Innovations such as the SAP hybris Marketing solution support this process by helping you to observe people’s behavior online so you can build up an in-depth profile of each potential customer.

 

For example, if someone talks about buying a new car on Facebook, it is likely that they will need to purchase car insurance at some point soon. The SAP hybris Marketing solution gathers this intelligence so that you can then send information about an appropriate product to that individual. If they receive a relevant offer for car insurance at the right time, it’s much more likely that they will decide to purchase the product.

 

Seamless omnichannel service

 

The financial services accelerator of the SAP hybris Commerce solution helps ensure that any information previously provided by a potential customer is immediately accessible at every touch point. So, if they already provided certain details on an online form and then decide to speak to someone on the phone, they don’t need to provide this information again. The call center operative will see it on their screen and be able to refer to it in their conversation.

 

To compete in a market that is increasingly threatened by new players, it’s critical for insurance providers to deliver the wide choice of interaction channels that customers now demand. A seamless omnichannel service enabled by the financial services accelerator of SAP hybris Commerce offers this freedom of choice and makes it easier for people to do business with you.

 

A bright future


By deploying SAP solutions, insurance companies now have an opportunity to place the customer at the heart of their operations. Not only will this allow you to regain the close customer relationships of yesteryear, but you can also go further to provide a better service than ever before.

 

Deeper customer insights will enable you to provide personalized offers that are truly relevant to the individuals you target. Meanwhile, smooth omnichannel interaction will help you to offer service levels that delight the customer, providing a bright future for the industry.

 

To find out more about SAP solutions for the insurance sector, visit http://discover.sap.com/digital-insurance or connect with me on Twitter at @rolandbloesch.

Introduction

 

Simple Product Deployment was first mentioned in the blog of Bjoern Panter.  The official product name is SAP Policy Management Product Deployment add-on. SAP customizing for defining a product module group and extending it to various product module ids is a cluster view based development. This customizing approach is available as part of the standard (transaction) SPRO through the SAP R3 GUI of FSPM. Insurance products tend to change in a regular basis which means new products required to be defined in the system. These new products have usually a reference to the existing products. During definition of new product, users have to copy all the assigned characteristics such as Product module dimension, product module class, product module group of the source product to the new product.

 

Architectural overview

 

 

Simple Product Deployment is implemented as an add-on for SAP FS-PM 5.3. The SPD UI layer contains the frontend parts of the application. The frontend components will SAP UI5 applications running in a web browser. The UI layer is based on the Fiori design principle and contains only static content which is loaded into the web browser.  The SPD backend layer contains the dynamic parts of the application. This data access layer is the only layer that accesses SAP FS-PM application log components for reading and/or writing. The SPD Odata layer is responsible for processing the required information. It also checks the input and (possible) output enrichment is performed here. The Odata layer gets triggered from NetWeaver Gateway based on the Odata request from the frontend.

 

architectural overview.png

 

The SPD Fiori Launchpad

 

 

The SPD Fiori Launchpad has 5 tiles or applications:

Fiori launchpad.png

 

1. Product modules – Search Product Modules

 

With this application you can view and/or configure a product module. The tile displays the total number or configured product modules.

 

product modules.png

 

Essential buttons are available to use on the bottom of the page.

  • You can easily display all the product module ids which are used by a (selected) dimension
  • You can easily display all the product templates which use the product module id.
  • You can use the edit button to change a product module group of a dimension-class combination.
  • You can delete a dimension class from the product module id.
  • You can add a new dimension-class product module group.
  • You can even copy the product module id (configuration) to another one.

 

 

2. Pending Product Modules

 

With this application you can manage and view the not (yet) configured product modules. The tile displays the total number of product modules which need to be configured.

 

pending product modules.png

 

Essential buttons are available to use on the bottom of the page.

  • You can easily display all the product templates which use the product module id.
  • You can use the manage button to configure a product module group and dimension-class.
  • You can even copy the product module id (configuration) from another one.

 

3. Product Template

 

The Product Template tile displays the total number of product templates in the system with status In Progress. With this application you can manage a product template.

product templates.png

 

Essential buttons are available on the bottom of the page.

  • You can check a product template. Standard checks will be performed.
  • You can move a product template to your own worklist; status of the product template will change automatically to in process.
  • You can also copy the product template to another one. Copy simulation can be performed here as well, which means you can evaluate the result before triggering the actual copy.
  • You can compare the two different product templates with each other.       

     2Differentproducttemplates.png

 

  • You can see the whole tree of the product template; root and sub template can be displayed on a single screen. 

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    • From the resultant screen user can check the sub tree from any level including top most level. This will trigger a back ground job.
    • From the resultant screen user can copy sub tree from any level including top most level. This will trigger a background job.

 

4. Browse results

Long running processes, e.g. copy product templates with sub templates, are triggered in the background. With this application you can search for the copy and check processes which was initiated in the product template application.

 

5. Template worklist

The Template Worklist tile displays the total number of product templates in your user worklist. With this application you can view and/or manage the product template with status in progress and also release a product template.

 

For more information SAP notes:

2244018        Release strategy for the ABAP add-on FSSPD

2244020        Release strategy for the ABAP add-on FSSPDUI

By Birgit Fien-Schmalzbauer, Head of Research and Innovation, SAP for Insurance, and Sunil Khaladkar, Director, Business Model Innovation, SAP

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There’s no question that the insurance industry is ready for some big ideas. The real question is who is going to bring the next “game changing” idea to a market that’s increasingly hungry for customer-centricity. We know that there are talented people inside insurance enterprises who have big ideas that can help the established carriers continue to lead the industry in the digital economy.


But in order to achieve this, insurance carriers will have to wholeheartedly embrace the digital revolution by thinking and acting at the pace of a tech-savvy startup. This can be done by harnessing the capabilities of the Internet of Things. However, the biggest roadblock any insurer will have to get past will be their own “corporate immune system.”


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At SAP we created the Business Model Innovation (BMI) service center to tackle this issue effectively. We’ve finally discovered a way to incubate innovative ideas so we can test them and bring them to market in a low-risk way. That allows us to focus more on making strategic, market-driven changes rather than getting bogged down with operational issues.


We’d like to share some of the best practices the BMI team has discovered in its mission to implement the right business model for every innovation, faster.

 

Innovation requires a unified team focus


Two concepts drive the BMI team:

  • One team/one dream
  • Think big, start small, fail cheap


“One team/one dream” is more than a catchphrase to the BMI team. Rather, this idea provides a unifying focus – that everyone’s goal is to breathe life into a new business and work together to push through boundaries of corporate systems that would normally resist a bold step.


The BMI group is not an idea management team. Instead, it operates more like a business test lab, vetting product ideas that are created around business hypotheses, and then finding ways to create and test suitable business models in a pragmatic way.


The team consists of 19 experts from all functional business units. When necessary, they bring in experts from other areas to help scale obstacles.


Getting to market quickly with low risk


The BMI group encourages smaller steps to mature new business hypothesis from all functional business angles. This can be achieved by creating minimum viable products or controlled commercial pilots that we can release to a small subset of customers.


With consumer demand for more customer-centric offerings, insurance carriers that can mobilize focused teams that think big but start small are more likely to remain competitive in the digital future.


The SAP for Insurance team is well supported by the BMI group and looks forward to working with insurance companies with game changing ideas. Reach out to us for more details and collaboration.


For more information, see SAP Digital Insurance Strategies, or connect directly with me via Twitter @birgit_fien.

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It’s springtime and to me that means Red Sox baseball, the Kentucky Derby, and another SAPPHIRE NOW just around the corner. Our team has been very busy developing new sessions and experiences that we know will generate a lot of interest. As you make your plans to join us at SAPPHIRE NOW in Orlando, Florida on May 17–19, here’s your preview of what we have created for members of the insurance community this year.

 

Interactive sessions


Our interactive sessions bring together experts from across the insurance industry to discuss the newest trends, solutions, and insights that you can use in your business. On the finance side, we will have sessions exploring how to extract additional value from your data assets, streamline risk and finance processes, take a digital journey through the world of finance operations, and more. We will also cover the insurance perspective of all things digital, including how to become a digital customer-centric insurer and how to accelerate your speed to market with new product innovations for insurance. With such a range of topics, you’re sure to find interactive sessions that will send you home with creative ideas to share with your colleagues.

 

Strategic presentation


This year’s strategic presentation is a must-attend event for companies that want to attain an integrated, analytic view of customers, finance, and operations. Discover the newest innovations in the industry that will help you improve client and product profitability, and gain real-time insights into performance metrics. Our customer’s testimonial will explain how they aligned their financial and operational reporting using SAP solutions.

 

Demo theaters


The demo theater presentations offer quick, 20-minute sessions to introduce you to a wide range of SAP for Insurance solutions for your company. This year we’re presenting demonstrations covering the following topics:

 

  • Peer into the future of the digital insurer
  • Visualize future outcomes with cloud-based analytics
  • Manage complex insurance with profitable customers and products
  • Simplify enterprise data management without disruption


Demo stations


On the show floor you can visit our demo stations and see the newest solutions for the insurance industry. With the SAP for Insurance solution portfolio, you can begin, or continue, your digital transformation while gaining efficiencies that lead to a competitive advantage. Discover how our portfolio supports cloud-based core and administrative systems, omnichannel sales and service, and predictive analytics, all simplifying the operational landscape for your business.

 

Panel discussion


Explore the digital transformation and its impact on financial services at our panel discussion on the last day of SAPPHIRE NOW. The digital transformation provides strategic opportunities for businesses, with better customer, supplier, and workforce interactions. Learn how to improve operational efficiencies, while adding value to your business….directly from our panelists made up of SAP customers.

 

I hope to see you this year at SAPPHIRE NOW in Orlando. Register today.

Join Deloitte and SAP for our webinar " Insurance Boardroom of the Future" at 11:00 a.m. BST / 12:00 p.m. CEST on Tuesday 19 April, 2016.

 

Finance's role in the organisation of insurance businesses across all markets is becoming more central. A recent CFO.com survey – sponsored by SAP – found that the finance function is no longer just about finance. CFOs told us that the organisational scope of their role is expanding to encompass other key functions, like risk management, M&A and IT. In fact, 35% of more than 210 respondents said finance's influence within the organisation will continue to grow within the IT department. All this against a backdrop of an increasingly digital insurance market, with savvy customers, disruptive new competitors and heightened regulation on capital, business conduct and financial reporting.

 

Attend this live webinar to find out:

 

  • What are the top priorities in 2016 for insurance CFOs?
  • How to manage costs and risks relating to new regulations such as Solvency II and IFRS4 Phase II.
  • How to achieve efficiency savings when non-discretionary spend seems large and unavoidable.
  • How innovative technology like in-memory computing and advanced analytics can help you realise your business goals.

 

Registration link

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For the insurance industry, the Internet of Things (IoT) holds tremendous promise. Take automobile insurance as an example. Today, insurers can use connected vehicles and the IOT to gather sensor data regarding driving behavior, location information, vehicle diagnostics, and more. This has enabled insurers to deliver usage-based insurance (UBI) offerings such as PAYD and PHYD (pay as you drive and pay how you drive). Some companies have gone even further with features such as automatic crash notification, geo-fencing, repair notification, roadside assistance, and personal concierge services.

 

Collaboration and the means of delivery

 

This is a good start – but to capture and deliver the full value of what the IoT has to offer, insurance companies need to come to terms with the ways in which this value is delivered. And with the IoT, the ability to deliver value increasingly depends on collaboration.

 

The fact is, in the age of the IoT, value chains are too multifaceted for any single market player to deliver everything on their own. For auto insurers, one obvious way forward is to collaborate more seamlessly with auto manufacturers. These manufacturers, after all, are building the cars with the sensors in them already. If they choose, they could start to offer IoT-based insurance themselves.

 

This may be overstating the case a bit. After all, manufacturers don’t necessarily have the expertise to move into the business overnight. But the writing is on the wall for insurers: start collaborating or start to lose market share.

 

Silos no more


For the traditional siloed insurance company, this is bad news. For the forward-thinking company that is ready to change, it’s very good news indeed – because the IoT offers tremendous opportunity.

 

Change, however, requires insurers to fundamentally reimagine their business models to break down silos and facilitate collaboration. One-off projects that keep siloed processes and landscapes intact will fall short. Instead, insurers need comprehensive digital transformation. But just as no single company or industry can dominate the entire customer value chain on its own, no single vendor can deliver out-of-the-box IoT on its own. Thus, what insurance companies need is an application development framework based on open standards to rapidly create solutions for various IoT scenarios.

 

Connect, transform, reimagine

 

This is where SAP can help quite a bit. Take for example, SAP HANA Cloud Platform. As the name suggests, this is a cloud-based, in-memory platform that helps you open up and automate processes at the core of your business – enabling you to connect to almost anything in collaborative fashion to deliver the value your customers seek.

 

With SAP HANA Cloud Platform, you have access to core capabilities such as predictive analysis, geo-spatial processing, series data, and location services. On top of this, you can also use SAP Vehicle Insights, a cloud-based application that links vehicular data with sensor data to provide actionable insight. And to do all of this in a collaborative way, you can use SAP Vehicles Network – a B2B business network solution that facilitates connections among different market players.

 

With a foundation like this in place, you can rapidly develop, deploy, and manage real-time IoT applications – and connect them to the larger customer value chain in collaboration with new business partners as new use cases emerge. In the end, this gives you the agility you need to move quickly and seize the advantage in an increasingly networked economy where value is measured by the quality of the customer experience you deliver.

 

Want to learn more? Visit us at http://discover.sap.com/digital-insurance or find me via Twitter at @UweHofstaetter.

We all know SAP For Insurance or do we? Our recent poll at US Insurance Agents among our listed independent and captive agents suggests that only 25% of agents are in cloud, while 45% plans to move within next 1-3 years. We are moving closer and closer to the era where cloud will be the only solutionto store backup copies of computer files for insurance agents who would be severely inconvenienced if important information was not available.

 

With the primary concern for the customers being the need for security and mobility there are five important reasons for using cloud computing:

 

Backup Copies of Files

 

As simple as it gets - backup copy of a file should be saved on a different device because a hardware tends to break down and software is known to crash. Users could store file copies on a secondary hard drive or upload the copies to a cloud. Some users may save file copies on a flash drive or on a computer disc. An insurance agent may require more than 600 GBs of storage space for file copies, which would require several flash drives or computer discs.

 

Cloud Computing

 

A cloud should be used not only as a secondary location for saving and for retrieving files but  Internet connection while retrieving the files and may have a contract with a broadband service provider that offers limited coverage in several areas. If the customers are forced to connect to the Wi-Fi signal from a hotel or a coffee shop, then there could be serious problems with regard to security.

 

Hard Drives

 

An external hard drive can be used to save backup file copies and will not be affected if a computer crashes. The files on a hard drive cannot be accessed with a Wi-Fi connection. A cloud could be used for remote access with a smartphone or a computer. A hard drive can be damaged by excessive heat or by exposure to moisture. Users could accidentally spill a cup of coffee or a soft drink on a desk, which would damage the hard drive.

 

Security

 

An insurance agent is responsible for protecting the personal information of each client and should be aware of any potential problems that could be caused by an online backup service. The files should be protected with passwords and with a personal key code. The security features of a cloud will be controlled by the company that provides the online backup service. The passwords may not be secure because information on the Web could possibly be seen by other users on a computer network.

 

Online Backup Services

 

There are multiple parameters for cloud computing. A user may want to choose the different files that will be uploaded to a cloud. Some online backup services are used to continuously copy the files from a computer. An important aspect of the process for uploading a file is the transfer rate for the data. If a user has a slow Internet connection, then the time period for uploading a file will be longer than the time period that would be possible with a high-speed Internet connection.

 

Costs

 

There are additional costs for uploading computer files to a cloud because a user will be transferring data over an Internet connection. Many users may have a monthly limit for data transfer such as 10 or 12 GBs. An insurance agent should carefully monitor his or her data usage and may prefer to control costs by choosing the individual files to upload to a cloud.

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