SAP for Insurance Companies

Name: leverX Company
Brand: LeverX
Rating: 4.9 (114 reviews)

Deliver the best insurance service on the market with SAP technologies.

Collaborating with an SAP Gold Partner provides access to resources and seasoned professionals, ensuring your project's reliability. Their expertise tailors SAP solutions for your unique needs, optimizing ROI and efficiency.

Partnering with an SAP Global Strategic Supplier goes beyond buyer-seller dynamics. They provide critical solutions for global operations, collaborate on product development, and drive strategic initiatives.

LeverX is a certified partner of the SAP Center of Expertise. This accreditation ensures our unwavering commitment to upholding SAP's highest standards. Our mission is to deliver excellence, providing unparalleled support, and facilitating the seamless integration of SAP solutions into your business framework.

Such companies help businesses solve complex problems, deliver exceptional user experiences, and drive digital transformation using design thinking and innovation expertise. They leverage SAP's best practices and cutting-edge tools to create user-centric solutions.

The market constantly changes, with customers expecting convenience and security from insurance companies while regulators demand accuracy. How can you maintain the right balance between speed, security, and efficiency in this environment?

SAP solutions help insurance companies automate processes, reduce risks, and efficiently manage large volumes of data. With intelligent algorithms, cloud technologies, and built-in analytics, SAP software enables businesses to not just meet market demands but also set new standards.

The future of insurance lies in technology. Take the first step toward digital transformation with the LeverX team.

Higher efficiency

SAP simplifies application processing, premium calculation, and claims settlement through process automation.

Improved risk management

Built-in analytics tools and AI help accurately assess risks, prevent fraud, and reduce insurance payouts.

Better customer experience

SAP enables omnichannel access to services and a personalized approach to customers.

Regulatory compliance

Automated regulatory change monitoring helps companies quickly adapt to new requirements.

Seamless integration

SAP solutions seamlessly integrate with other market participants' systems, creating a unified ecosystem.

Increased sales and customer base

SAP helps analyze customer behavior and offer personalized insurance products.

Process automation

SAP accelerates insurance operations through digital document management and automated calculations.

Predictive analytics

Data processing tools enable accurate risk forecasting, fraud detection, and informed business decision-making.

Compliance

SAP's built-in tools automate regulatory change monitoring, reducing risks and simplifying reporting processes.

Scalability

SAP cloud technologies enable quick adaptation to changing market requirements and business scaling without complex modifications.

Flexible integration

SAP solutions integrate into the insurance ecosystem, ensuring smooth collaboration between companies, banks, and brokers.

Operational efficiency

Optimizing all stages of insurance processes helps companies operate faster, more accurately, and efficiently while improving service quality.

The insurance industry comprises multiple subindustries, each facing distinct challenges that SAP helps to solve.

Life insurance
Automate underwriting, manage policy lifecycles, and ensure compliance with changing regulations.
Health insurance
Process claims efficiently, support member engagement, and analyze costs to optimize care networks.
Property and casualty
Assess risk, automate claims workflows, and enhance customer service across policy types.
Reinsurance
Manage treaty terms, track retrocessions, and streamline reporting across multi-country operations.
Commercial insurance
Issue policies faster, support broker interactions, and evaluate client risk more precisely.
Auto insurance
Integrate telematics data, detect fraud, and automate claim payouts for vehicle-related incidents.

Travel insurance
Issue short-term policies, handle cross-border claims, and deliver support during travel disruptions.
Marine and cargo
Track global shipments, assess incident risk, and manage claims related to cargo damage or loss.
Income protection
Automate benefits calculation, manage customer touchpoints, and streamline ongoing claims workflows.
Workers’ compensation
Track injuries, support case management, and generate compliance reports for workplace claims.
Funeral and final expense
Manage small-value portfolios, automate beneficiary tracking, and handle disbursements quickly.

SAP manages policies, claims, and customer interactions in the insurance sector. AI adds decision support, fraud prevention, and automation across these functions, making processes faster and more consistent.

Where AI adds an extra layer:

Automating claims processing with document recognition (SAP Document Information Extraction).
Detecting fraud patterns in claims and transactions.
Risk scoring for underwriting based on customer data.
Personalizing policy offers using behavioral analytics.

SAP already provides AI tools to support insurers. We help activate and customize them for your operations. When needed, we build AI and generative models that match your unique products and workflows.

Why LeverX?

Proven track record

For over 20 years, we have helped businesses worldwide succeed with SAP. We’ve already completed 950+ projects for over 800 clients, including top names on the Fortune 500 list.

Industry experts

The LeverX team comprises professionals with hands-on knowledge in 30+ industries, including manufacturing, logistics, and oil  and gas.

SAP partnership

We implement SAP projects end-to-end  and collaborate with SAP on the development and enhancement of its existing solutions.

Quality and security

LeverX operates in compliance with international standards such as ISO 9001, ISO 27001, ISO 22301, and ISO 55001, ensuring reliability and quality in every project.

Investment in innovation

We actively integrate advanced technologies, such as Data Science, IoT, AI, Big Data, Blockchain, and others, to help clients efficiently address their business challenges.

Flexibility

Our team is available 24/7, which enables us to quickly deploy projects, maintain process transparency, and adapt each development phase to meet your specific requirements.

Implementation Roadmap

We follow the SAP Activate methodology, which breaks down the implementation of SAP solutions into six essential stages:

Evaluating current processes: Assess existing business processes and identify the organization's needs.
Defining technical requirements: Create a detailed specification of the functional and technical needs of the new system.

Discover

Setting goals and objectives: Establish and agree on the goals to be achieved throughout the project.
Assembling the project team: Appoint team members and define their roles and responsibilities.
Project plan development: Create a comprehensive plan that outlines project phases, timelines, resources, and key performance indicators.
Budget determination: Estimate and approve the budget.
Specifications preparation: Develop the technical and functional specifications for the development team.

Prepare

Ensuring business requirements are met: Check that SAP solutions align with business requirements and project objectives.
Data validation: Verify the accuracy and compliance of the data.

Explore

Data migration: Transfer data from existing systems to the new one.
System configuration: Set up the solution according to requirements and specifications.
Customization: Develop additional features and modules, if the standard solution does not meet all needs.
Integrations: Configure SAP solutions to work with other IT systems and applications.

Realize

Testing: Perform functional, integration, regression, and load testing to ensure that all works correctly.
User training: Organize sessions to help users become familiar with the new system.

Deploy

System readiness check: Verify that the system is ready for operational use.
Launch: Officially transition to active use of SAP solutions.
Ongoing support: Continuously monitor solution performance to identify and resolve any issues.

Run

FAQ

How can SAP improve operational efficiency for insurance companies?

SAP helps insurance companies automate processes, such as application processing, premium calculation, and claims settlement. SAP also uses AI and built-in analytics to enhance risk management, prevent fraud, and improve overall service quality, leading to faster operations and better customer experiences.

Can SAP solutions be applied even if my industry is not yet fully digitized?

Yes. SAP is designed to support digital transformation from the ground up, making it ideal for industries at any stage of digital maturity through scalable, customizable solutions.

How does SAP ensure regulatory compliance for insurance companies?

SAP’s built-in tools automate regulatory change monitoring, helping insurance companies quickly adapt to new regulations. This reduces the risk of compliance failures and simplifies the reporting process, ensuring businesses stay audit-ready without additional manual effort.

Can SAP AI capabilities improve risk forecasting for the insurance sector?

Yes, SAP AI services enable predictive analytics that assist in risk forecasting, fraud detection, and data-driven decision-making. These capabilities help insurance companies make more accurate assessments and improve the reliability of their operations, enhancing overall business performance.

1

An expert will reach out to you to discuss your specific needs and requirements.
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We'll sign an NDA to ensure any sensitive information is kept secure and confidential.
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We'll work with you to prepare a customized proposal based on the project's scope, timeline, and budget.