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.consulting .solutions .partnership
Managing the Complexity within an Insurer’s Finance & Risk Landscape
SAP Insurance Innovation Roadshow 2014
• Insurance finance & risk
• Industry demands & impediments
• Approaching a solution
• Emerging use cases
Agenda
Seth Hedlund Managing Director
US Consulting Delivery Center msg global solutions, Inc.
Company & Presenter
• Head of North American Consulting
Operations for msg global
• Solutions Architect for NA Primary Insurance
MC
• 16+ Years Insurance Industry IT Experience
• 12+ years SAP Solutions Experience
• Enterprise Architect, Chief SAP Platform
Architect, Program Director, Trainer, Presales
Engineer, Project Manager, Technical Lead,
SAP BW Developer, Programmer
• Co-innovation partner for SAP Insurance
Analyzer
• 4,500+ employees focused primarily on SAP &
the Insurance Industry
• Expert consulting resources for SAP Insurance
Analyzer, SAP FS-RI, SAP BPC, FICO, FS-CD,
Business Intelligence and SAP Core Insurance
CEO:
Nimble and profitable growth oriented
focus
Quick, intuitive access to asset and
liability information from a single trusted
source
CFO:
Focus on analysis, not the administration
Define information consistently across
the enterprise
Automate processes to improve speed
and precision
Chief Actuary:
Focus on analysis, not the administration
by reducing information gathering
activities
Define information consistently across the
enterprise
CIO:
Ensure immediate access to the highest
quality information
Lower unit cost through reduced
administration expense and improved
process efficiency
Adaptability to change through simplified
and flexible IT environment
Perspectives
Insurance Analyzer
C O M P L E X R E C O N C I L I A T I O N
C O M P L E X I N T E G R A T I O N
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
Regulatory Reporting
Stress Testing & Simulation
Management Reporting
Non-financial Analytics
Financial Accounting
Risk Mgmt & Analytics
Typical Insurance Landscape
C O M P L E X R E C O N C I L I A T I O N
C O M P L E X I N T E G R A T I O N
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
Regulatory Reporting
Stress Testing & Simulation
Management Reporting
Non-financial Analytics
Financial Accounting
Risk Mgmt & Analytics
S A P I N S U R A N C E
A N A LY Z E R
Insurance Analyzer Landscape
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
S A P I N S U R A N C E
A N A LY Z E R
Management Reporting
Regulatory Reporting
General Ledger
Risk Reporting & Analytics
Stress Testing & Simulation
Non-financial Analytics
M u l t i - l e d g e r
A c c o u n t i n g
R u l e s
E n t e r p r i s e
S o l v e n c y &
R i s k R u l e s
I N S U R A N C E A S S E T &
L I A B I L I T Y D A T A M O D E L
D A T A M A N A G E M E N T A u t o m a t e d R e c o n c i l i a t i o n A c t u a r i a l I n t e g r a t i o n
Insurance Analyzer Landscape
Emerging use cases
Reporting Requirements
NAIC Reporting
SEC Reporting
Fed Reporting (Ex. SIFI)
Actuarial / Risk Management Requirements
Data Standardization and Consolidation
Financial Transformation
Conversion to SAP “New” Parallel Ledger
Insurance Sub-ledger Requirement
Business Planning, Budget and Forecasting
Enterprise Data Warehouse
Source System Consolidations
Finance Data Warehouse Enterprise
Data Warehouse
IT Support Cost Reduction
Self Service Reporting
Skill set / Infrastructure Simplification
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
S A P I N S U R A N C E
A N A LY Z E R
Management Reporting
Regulatory Reporting
General Ledger
Risk Reporting & Analytics
Stress Testing & Simulation
Non-financial Analytics
M u l t i - l e d g e r
A c c o u n t i n g
R u l e s
E n t e r p r i s e
S o l v e n c y &
R i s k R u l e s
I N S U R A N C E A S S E T &
L I A B I L I T Y D A T A M O D E L
D A T A M A N A G E M E N T A u t o m a t e d R e c o n c i l i a t i o n A c t u a r i a l I n t e g r a t i o n
Insurance Analyzer Landscape
Financial Transformation
S A P S i m p l e F i n a n c e
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
S A P I N S U R A N C E
A N A LY Z E R
Management Reporting
Regulatory Reporting
General Ledger
Risk Reporting & Analytics
Stress Testing & Simulation
Non-financial Analytics
M u l t i - l e d g e r
A c c o u n t i n g
R u l e s
E n t e r p r i s e
S o l v e n c y &
R i s k R u l e s
I N S U R A N C E A S S E T &
L I A B I L I T Y D A T A M O D E L
D A T A M A N A G E M E N T A u t o m a t e d R e c o n c i l i a t i o n A c t u a r i a l I n t e g r a t i o n
Cash Management
Fixed Assets
Management Accounting
Accounts Payable / Receivable
Integrated Planning
Financial Transformation
S A P S i m p l e F i n a n c e
Third-party Information
Banking & Investment Activity
Government Regulation & Reporting
Reinsurance
File Upload
Billing & Payments
CRM
Policy
Business Partner
Loans
Claims
Actuarial
Asset Management Commissions
Manual Entry
S A P I N S U R A N C E
A N A LY Z E R
Management Reporting
Regulatory Reporting
General Ledger
M u l t i - l e d g e r
A c c o u n t i n g
R u l e s
E n t e r p r i s e
S o l v e n c y &
R i s k R u l e s
I N S U R A N C E A S S E T &
L I A B I L I T Y D A T A M O D E L
D A T A M A N A G E M E N T A u t o m a t e d R e c o n c i l i a t i o n A c t u a r i a l I n t e g r a t i o n
Cash Management
Fixed Assets
Management Accounting
Accounts Payable / Receivable
Integrated Planning
• SAP Simple Finance: comprehensive integration, detailed planning capability, end-to-end
reconciliation, fast & easy to manage with HANA cloud
Thank you - msg global solutions
Thank you
Contact information: Seth Hedlund
Managing Director US Consulting Services Delivery msg global solutions, Inc. Email: [email protected]
Mobile: +1.413.537.8625
