SAP expands MySAP for insurers

German business software company SAP AG is to expand the functionality of its mySAP Insurance product to include financial services policy management capabilities by the end of 2003, the company announced Thursday.

The Walldorf, Germany, company has partnered with IT consulting and system integration company MSG Systems AG, of Munich, to make the policy management functionality available in the software suite in Germany, Austria and Switzerland, SAP said in a statement. SAP also plans to make the software available in other countries with added capabilities for other lines of insurance, though no timelines were given.

Designed to work with all types of insurance policies and products, the policy management component of mySAP is aimed at allowing users to manage business processes including claims, commissions, collections and disbursements, business partner and business warehousing from end-to-end, SAP said.

Policy management will also give users the option of reusing and recombining existing components of mySAP Insurance to define and maintain new insurance products, SAP said.

SAP is working with a client, the Austrian insurance company, Wiener Stadische AG, which has a volume of 20 million insurance contracts, to design and tailor the policy management functions in a real-world setting, the company said.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

Empowering the hybrid workforce: how technology can build a better employee experience

Across the country, employees from organizations of all sizes expect flexibility...

What’s behind the best customer experience: How to make it real for your business

The best customer experience – the kind that builds businesses and...

Overcoming the obstacles to optimized operations

Network-driven optimization is a top priority for many Canadian business leaders...

Thriving amid Canada’s tech talent shortage

With today’s tight labour market, rising customer demands, fast-evolving cyber threats...

Staying protected and compliant in an evolving IT landscape

Canadian businesses have changed remarkably and quickly over the last few...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now