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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
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