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R+V Versicherung AG standardizes premium collection with Europe’s largest SAP FS-CD solution
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions
- Business Operation
Use Cases
- Predictive Replenishment
- Predictive Waste Reduction
Services
- System Integration
- Software Design & Engineering Services
The Challenge
R+V Versicherung AG, a leading insurance provider in Germany, was aiming to build the “Insurance of the Future.” The company wanted to provide streamlined insurance services across Europe, with low operational expenses and commercially attractive premium rates. However, their existing business management solutions were not capable of providing a global, enterprise-wide view of finances and workflow processes. The company wanted to understand its own operational performance in more detail, manage finances more efficiently, and introduce automation of standardized processes wherever possible. Over the years, R+V had built up a range of heavily customized dedicated applications to manage premium collections, and its technical landscape was gradually becoming more complex, with variations at each office location. In a rapidly shifting insurance marketplace, which is also subject to new and constantly changing regulations, application complexity hindered R+V’s ability to respond to business needs.
About The Customer
Based in Wiesbaden, R+V Versicherung AG is one of the leading insurance providers in Germany, offering customized insurance services to private and corporate customers. With almost seven million customers and about 13,000 employees, R+V’s income from premiums exceeded €11 billion in 2010. As part of the German co-operative banks association, the company offers its services in more than 13,500 branches of the Volks- und Raiffeisen banks across Germany, and also sells through local representatives and agencies. R+V relies on SAP ERP solutions for core business management tasks such as finance, accounting and human resources.
The Solution
R+V worked with IBM Global Business Services and others to transform its premium collection processes and organizational structure. Using the IBM Component Business Model (CBM) methodology, R+V was able to analyze its business processes and design a process-optimized workflow management as well as a corresponding service-oriented architecture to support the introduction of SAP Insurance Collections and Disbursements (FS-CD) – the largest implementation of this solution in Europe. Combined with SAP Incentive and Commission Management (SAP FS-ICM) and an IKAROS debt recovery management solution from Ferber Software, the new platform delivers an integrated and automated workflow process across the enterprise. The new solution connects to 12-15 policy management systems and online portals, such as broker portals and the call center portal. Automated interfaces transfer SAP FS-CD transactions to the SAP financials solution and to the SAP NetWeaver Data Warehouse.
Operational Impact
Quantitative Benefit
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