In today's highly competitive market, insurers must react quickly to changing customer demands with flexible, yet tailored, and modular insurance products. The SAP Policy Management application is a flexible, scalable, component-based policy management system that supports the administration process from product development and business rules to application processing and rating through issuance and reporting. It is a single system designed to optimize corporate and field performance management.

Fully integrated with the SAP for Insurance suite of solutions or as a standalone application, SAP Policy Management provides core policy product and process templates for standard and highly complex insurance products and services related to life and property and casualty insurance.

SAP Policy Management offers a comprehensive road map that enables insurers to migrate in a flexible time frame. It allows you to leverage your existing investment in SAP software, as well as in industry-leading applications to drive down the total cost of ownership.

SAP Policy Management supports all insurance transactions by providing the flexibility to configure business rules and processes to meet your company's specific needs. Your company can track all policy transactions, based on an integrated workflow engine to process transactions manually or automatically based on your business requirements.

By automating and streamlining key business processes, SAP Policy Management helps you respond rapidly to changes in market demand, take advantage of up-selling and cross-selling opportunities, improve customer satisfaction, and reduce costs.