insuralytics
DESCRIPTION
Insuralytics High Fidelity PrototypeTRANSCRIPT
INSURALYTICSMake Better Decisions. Stay Ahead.
Challenges
Why Insurance Industry?
Solution Description
Harnessing Big Data
Value Proposition
Agenda
Social Media absence
Global CompetitionMore Expense, Less Premium
Fraudulent claims
Existing IT. No integration
Challenges
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.
Trends in the Insurance Industry
SolutionDescription
INSURALYTICS
SAP’s Innovation Success for Insurers
CFO
Deeper Insights into Insuralytics
Solution in the CloudIntegrate 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
•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
Sentiment Analysis
:-)
Single Integrated solution
Real-time Insurance Analytics
Business Alerts
Customer risk profile analysis
Fraud DataAnalysis
Social MediaIntegration
Propensity to Churn
Competitor Insight
ProductRecommendation
Insurance Ratio Reporting
Big Data
SAP HANA Cloud
PLATFORM
Bringing Together Business And IT
Address CFO needs• Analyze and Simulation capabilities• Real-time Mobile Cloud Access• Make better decisions faster anytime
anywhere
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
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
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
Harnessing
Big Data
AdventureTrips
WeekendParties
Mid-nightDrive
Check-In at
Pubs/Discos
Introducing Lifestyle AnalysisA Big Data scenario
Occupation
Age
OtherInsurancerelevant
data
Target more. Increase Revenue
Better Underwriting Decisions
Cost Optimization Better Earnings
Real-time Customer DataReal-time Validation
Huge social media data
Usage time and distance
AccidentData
RoadSelection
VehicleSpeed
Bringing Telematics to Insuralytics
Install telematics
device
Pay as-you-drive
Smoother Claim process
Analyze driving skills real-time
Customize policies
Mobile
Cloud
Real-TimeSAP Insurance
Suite
SA
P In
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nce
An
alyz
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SA
P H
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A L
IVE
- In
sura
nce
Risk Analysis
Sentiment Analysis
Lifestyle Analysis
What-If Analysis
Insurance Data derived from different Systems
Analysis & Simulation
Leg
acy
Sys
tem
s
SA
P F
rau
d M
anag
emen
t
So
cial
Med
ia &
Big
Dat
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CFO
High Level Solution Architecture for INSURALYTICS
SAP HANA Cloud Platform
SAP HANA Cloud Integration
Value proposition Vision & Roadmap
INSURALYTICS - In line with SAP`s Vision
SAP HANA Cloud Platform Analytics & Mobility in the Cloud; in real-time
CFO using HCP connecting to SAP Insurance Analyzer &SAP HANA Live for Insurance
CFO doing Analytics& Simulation
2015: € 2 Billion Cloud Revenue
Fits in Tomorrow`s Entire SAP Insurance Platform
• 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
In-memory Infrastructure
• * SAP HANA Enterprise Cloud available
• ** SAP HANA Cloud Integration for INSURALYTCS
INSURALYTICSSAP Insurance Suite * & SAP HANA Live for Insurance
SAP HANA Cloud Platform Mobile, Portal, Network, Analytics, Apps
SAP InsuranceIntegration **
INSURALYTICS Make Better Decisions. Stay Ahead
Value Proposition
Gross Profit Optimization
Better Forecasting &
Simulation
Better Cash Flow Projections
Risk Coverage with Compliance to
International Standards
Better Understanding of Market Sentiments, Insurance line of
business and customer behavior
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
No solution in the market provides a similar value to the Insurance CFO
A Tailor made solution for the Insurance CFO
Smoother mobile experience with state-of-the-art Cloud platform
HANA Cloud Platform environment setup.
Integration setup between various SAP Insurance systems and social media.
Usage of Big Data – Lifestyle Analysis and telematics
Integration framework for legacy systems and social media.
Build HANA Live models & compose Insurance reports.
Continuous improvement process with clear feedback channels implemented
Enterprise Insuralytics LIVE globally with enhanced business content, faster implementation and a smoother experience.
Continuous Improvement Research work will continue to improve the services and incorporate new features
Insuralytics Foundational Work
Insuralytics SP1 for SAP customers
Insuralytics SP2 for Non-SAP customers
Adaptation of new Insurance CFO Process management guidelines
Mapping of key Insurance CFO KPIs
Insurance Process Landscape brought to the next level
2013 2014 2015 2015+
Enterprise Insuralytics
Product Roadmap
www.sap.com