Skip to Content
Man reviewing insurance options on a tablet


By adopting new digital business models and processes, you can better protect your customers’ health, property, and business.

Igniting the digital transformation of insurance

The insurance industry is facing a revolution in the digital network economy, driven by new entrants such as insurtechs and automotive companies.

Image representing digital transformation in the insurance industry
Financial transformation

While many insurers are still relying on fragmented, homegrown transactional systems to run core processes, new regulations, such as IFRS 9, IFRS 17, and LDTI, are necessitating change. Financial transformation can help you manage complex financials, profitability, risk, and compliance in real time and based on best-practice business content.

Omnichannel interaction

To meet high customer expectations and avoid turnover, insurers must leverage all omnichannel interactions. Real-time data can help you provide personal, in-the-moment interactions whenever and however customers engage to optimise experiences across all touch points, including agent, broker, bank, online, and price comparison Web sites.

Responsive workforce

Insurers must attract and retain top talent, such as data scientists, claims adjusters, and actuaries, both internally and externally in a distributed, remote work setting. By effectively onboarding and nurturing your people, you can drive better engagement and higher revenues, enabling growth, increased retention, and a responsive workforce.

Sustainability imperatives

Sustainability is no longer just a footnote in a company’s report, and the insurance industry is under pressure to take a leading role. Today, all insurance stakeholders drive accountability and change. Solutions for climate change, the circular economy, and ESG reporting can help you achieve sustainability at scale.

Featured insurance solutions

SAP Profitability and Performance Management

With advanced business modelling, granular profit and cost analysis, and simulation capabilities, you can empower business users to make better strategic decisions to improve business performance and maximise profitability.

SAP Commissions

Our strategic incentive compensation management software can help you motivate sales, shape behaviour, and grow revenue by increasing the effectiveness of sales teams and driving profitable behaviours.

SAP Fieldglass Vendor Management System

By enabling business users to effectively source, engage, and manage external workers and service providers, you can transform how you work with contingent workers and service providers to maximise business value.


SAP and SAP Fioneer FSI Forum Americas

Driving growth and innovation in financial services  |  March 8-9, 2023


To attract, cultivate, and keep today’s customers, you must manage an integrated, multichannel environment with solutions that maximise customer engagement. From marketing and sales to service, SAP solutions support multiple loyalty-building experiences.

  • Omnichannel customer service management
  • Sales force automation
  • Comprehensive sales force management
  • Customer experience management across the engagement cycle
  • Workforce scheduling and mobile apps

Up to 90% faster searches and response times for insurance claims.

Source: AOK Systems   

We can now standardise and automate health insurers’ processes even further. We are also able to provide innovative, integrated solutions for policyholders quickly and in a targeted manner. This gives our customers a competitive edge.

Daniel Ridder, Head of Strategy and Innovation, AOK Systems


To remain competitive and grow revenue, insurers must innovate products and operations. You can deliver protection services by bundling products and services across lines of business. You can also automate and streamline claims, billing, and payment processes through integration with the general ledger to help reduce costs and increase transparency.

  • Quotation and offer management 
  • Collaborative product creation and policy processing 
  • Automated claims management 
  • Transparent view of operations
  • Streamlined, transparent billing and settlement processes 


Up to 500% increase in daily disbursements.

Source: Zurich Brasil


Customers are noticing a difference with the SAP Collections and Disbursements for Insurance application. They are paid faster, and we are well positioned to quickly deliver new products and services.

Jackson Alves, IT Superintendent, Zurich Brasil


Spend management provides the best opportunity to quickly reduce costs and improve ROI. Our solutions support best practices in the source-to-pay process, on premise or in the cloud. This enables you to gain insights and improve efficiency through intelligent business network collaboration while establishing the baseline for managing total spend.

  • Central procurement management 
  • Savings opportunity optimisation
  • Supplier collaboration and sourcing management
  • Preconfigured business rules for invoicing
  • Real-time purchasing reporting


33% lower cost of claims procurement. 

Source: SAP Performance Benchmarking


At Medibank, we had the opportunity to lay a foundation for many years to come with our implementation and adoption of SAP Ariba solutions.

David Fittler, Senior Executive, Property and Procurement Technology and Operations, Medibank 


New financial, regulatory, and compliance requirements necessitate urgent upgrades to reporting systems. Insurance software from SAP delivers essential profitability breakdowns at an individual event level and enables you to consolidate data from various policy, claims, billing, actuarial, and incentive systems for a single version of the truth.

  • Fast, accurate, and compliant close processes
  • Financial planning and analysis 
  • Insurance-specific profitability and solvency controls
  • Management of cash, accounting, and regulatory books (IFRS 9, IFRS 17, and LDTI)

40-50 fewer days to close annual books.

Source: SAP Performance Benchmarking 


Cutting the financial close from 55 days to just five days.

Swiss Re


Without modern, digitalised workforce processes, insurers may not attract the right staff and risk losing critical staff. Insurance software from SAP reduces this risk by offering solutions for the training of sales and field resources, including clear target setting in alignment with individual and overall sales targets.

  • External workforce management 
  • Core human resources management
  • Talent management
  • Human capital analytics
  • Intuitive compensation models

Up to 80% reduction in travel and expenses audit costs.

Source: SAP Performance Benchmarking


We’re now one of the top 100 employers in Canada, with our performance and learning earning an A and A+ rating. This is directly a result of our new systems.

Carey Franklin-McInnes, Director of Learning and Performance Development, The Canada Life Assurance Company

Get started with SAP’s cloud solutions for insurance

We can help you start or enhance your insurance digital transformation – no matter where you are in your journey. If you have yet to move to cloud ERP, you can get started with the RISE with SAP solution. If you already have cloud ERP – from SAP or any other vendor – you can enhance your insurance capabilities with our industry cloud solutions.

RISE with SAP solution for insurance

RISE with SAP provides customers with complete business transformation as a service (BTaaS) in a single package. At its core is SAP S/4HANA Cloud, business process intelligence, technology credits, and more. RISE with SAP also includes solutions for:

  • Centralisation and automation of billing and payment processes
  • Comprehensive subledger accounting for financial instruments and insurance contracts, integrated with the general ledger
  • Cost and profitability analysis at a granular level, in real time 

Industry cloud solutions

Built by SAP and our partners on an open platform, SAP’s industry cloud solutions address specific industry needs for the insurance sector. Designed to work with your existing SAP and third-party systems, these specialised cloud applications can help you drive cost-effective transformation and sustainable growth.

  • Cloud-based insurance solutions 
  • Innovative technology from SAP and our partners
  • Straightforward integration with existing systems
  • Extension of your current investments

Featured cloud solutions for insurance

SAP S/4HANA Cloud for insurance, extended edition

Unify billing and payment processes to create a central view of policyholders and brokers. Business processes related to payments across lines of business are mapped into a central subledger accounting system.

SAP S/4HANA Cloud for financial asset management, private edition

Manage various asset classes by providing functions for controlling financial transactions and positions, ranging from trading and back-office processing to data transfer and financial accounting.

SAP S/4HANA Cloud for financial products subledger, extended edition, insurance option

Centralise the accounting data for insurance contracts to reduce costs, ease reconciliation of different books, and simplify the preparation of estimated cashflows provided by actuarial systems.

Back to top