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 Solutions for Insurance Companies

Upgrading core systems, automating routine processes, detecting fraud, and giving customers easy digital access are no longer optional — they’ve become part of how insurers stay competitive. SAP offers a comprehensive suite of solutions that integrate policies, claims processing, finance, reinsurance, and customer engagement channels into a single platform.

Policy and product management

Claims, fraud, and adjudication

Finance, accounting, and risk compliance

Reinsurance and risk modeling

Customer engagement and digital channels

Operations, analytics, and platform support

Policy and product management

Insurers must move quickly when shaping, releasing, and refining their products — the market doesn’t wait long for anyone. SAP enables this with:

Accelerated product setup and commercial proposal creation, reducing time to market.
Policy lifecycle automation: from underwriting to renewals and supplements.
Flexible rules-based pricing, premium calculation, and packaging.
Complete integration with billing, claims, and reinsurance modules.

SAP FS-PM (Policy Management)

Oversee every stage of a policy’s life — from setup and approval to renewal or cancellation. The system monitors updates, documents, and messages in a single location so that nothing gets lost in the process.
SAP FS-ICM (Incentive and Commission Management)

Handle commissions and incentive programs automatically. Calculate payouts, manage agent hierarchies, and record all transactions so compensation stays accurate and transparent.

Claims, fraud, and adjudication

Claims handling is expensive, complex, and directly affects how customers feel about their insurer. SAP addresses this challenge with:

Automated workflows for receiving, sorting, and reviewing claims.
Predictive detection of fraudulent or suspicious claims.
Support for investigations, subrogation tracking, and collection management.
Secure processing of correspondence, appeals, and escalations.

SAP FS-CM (Claims Management)

Handle the entire claims journey — from the first report to the final payment — without drowning in paperwork. The system keeps everything in one place: documents, case notes, and communication history, whether it’s life, health, or property insurance.
SAP Business Integrity Screening (SAP BIS)

Catch unusual claims or transactions before they slip through. It learns from past cases, applies rules you define, and flags activity that just doesn’t look right, helping teams focus on what really needs attention.

Finance, accounting, and risk compliance

Insurers have to keep up with changing accounting rules like IFRS 17, manage their capital levels responsibly, and keep a clear view of where profits and losses actually come from. SAP provides companies with the following capabilities:

Implementation of insurance-focused subsidiary ledgers and accounting flows.

Performance of profitability analysis, cost allocation, and financial analytics.
Automation of regulatory reporting, disclosure, and control.
Monitoring of credit, market, operational, and liquidity risks.

SAP S/4HANA Cloud

Perform all daily financial operations related to insurance company reserves and premiums, claims accounting, and reinsurance settlements in a single system. This eliminates the need for manual reconciliations, speeds up, and improves the reliability of reporting.
SAP Profitability and Performance Management (PaPM)

Analyze the contribution of each product, channel, or customer group to your profits. Run quick "what-if" scenario tests to determine the impact of pricing or portfolio changes on overall profits.
SAP Revenue Accounting and Reporting (SAP RAR)

Control revenue recognition for long-term or multi-period policies to avoid loss of transparency. Control every calculation so that finance departments and auditors can track the numbers to the final stages.
SAP GRC (Governance, Risk, and Compliance)

Monitor benchmarks, audit trails, and risk indicators as they arise. When something gets out of control, the system immediately reports it, allowing teams to act before minor problems become big.

Reinsurance and risk modeling

Reinsurance is critical for risk diversification and capital efficiency. Insurers need reliable tools for reinsurance accounting and risk forecasting. SAP supports:

Processing and accounting of reinsurance contracts and facultative reinsurance.
Integration of assignments, retrocessions, and recovery logic.
Catastrophe modeling, scenario modeling, and risk aggregation.
Capital adequacy and solvency monitoring.

SAP FS-RI (Reinsurance Management)

Handle treaty administration, cessions, retrocessions, and settlements in one place. Track accounting flows and recoverables with full transparency across partners and contracts.
SAP Risk Management

Run stress tests and simulate financial or catastrophic scenarios to gauge exposure. Monitor capital ratios and risk indicators as they shift over time.
SAP Analytics Cloud (SAC)

Use predictive analytics to forecast exposures and link them to real risk drivers. Adjust reinsurance strategies dynamically based on data, not assumptions.

Customer engagement and digital channels

Insurance customers demand fast responses and convenient interactions, regardless of the method of communication. With SAP solutions, insurers can:

Enable customers to receive quotes, manage policies, or check the status of insurance claims at any time.
Analytics and artificial intelligence should be used to create more personalized and relevant offers.
Streamline interactions across the website, mobile devices, and agents so that each communication ends at the previous stage.
Monitor customer flow through each process and apply this knowledge to subsequent interactions.

SAP Commerce Cloud

Provide a single hub for clients and partners where they can find suitable insurance products, get quotes, and make purchases from any device (desktop or mobile). Leverage service features like renewal, claims tracking, and add-on upgrades in the same portal.
SAP Service Cloud

Give your team one workspace that covers everything from customer messages to internal case tracking. Let agents move easily between email, chat, and phone while keeping full context on each policyholder.
SAP Emarsys

Use Emarsys to make communication feel more personal and better timed — group customers by behavior and policy type, not just age or location. Pull data from multiple touchpoints — emails, site visits, transactions.

Operations, analytics, and platform support

Behind the scenes, insurers need to optimize operations, integrate systems, and gain enterprise-wide insights. SAP provides:

Process orchestration, integration, and middleware capabilities.
Data lakes, centralized reporting, and master data management.
Predictions, anomaly spotting, and AI and ML model optimization.

SAP Business Technology Platform (SAP BTP)

Bring SAP and third-party systems together, build your own extensions, and give teams unified access to analytics, AI, and automation tools — all in one place. It’s how you turn scattered systems into a single, intelligent environment.
SAP Datasphere

Transform disparate information into a single source of truth. Explore, design, and communicate without technical limitations. It is a unified platform for reporting and planning that eliminates duplications and complex migrations, providing fast and reliable access to the data that will drive your business forward.
SAP BTP Process Automation

Automate repetitive and rule-based workflows, including policy approvals, claim escalations, and payment reconciliations. Integrate automation flows to SAP and external systems via APIs and event triggers.
SAP Analytics Cloud (SAC)

Track mission-critical KPIs and evaluate portfolio performance on the go using real-time dashboards and predictive forecasts. Bring live data to a convenient visual view and easily simulate risk or profitability scenarios.
SAP Master Data Governance (SAP MDG)

Ensure your master data is always clean and consistent — across customers, policies, products, and partners — with embedded workflows to approve updates, standardize formats, and identify duplicates before they lead to real problems. With MDG, every employee will work with the same, reliable data.

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

Will SAP solutions be relevant even in case my industry is not completely digitalized?

Yes. SAP is built to handle digital transformation at the base level, and is therefore suitable to any digital maturity industry in the digital maturity, with scalable solutions that can be tailored.

How long does it take to implement SAP solutions in an insurance company?

It depends mostly on scope, system complexity, and how much you’re changing at once. Smaller projects can wrap up in six months; major transformations may take a year or more. LeverX follows SAP Activate to keep things moving with clear phases, agile sprints, and fewer surprises along the way.

Can SAP solutions be customized for specific insurance products or regional regulations?

Yes, and they usually are. SAP lets insurers adjust business rules, pricing models, and reporting to match local laws or market practices. In real projects, that flexibility means you don’t need to rebuild processes from scratch every time regulations change.

How does SAP ensure data security and privacy for insurers and customers?

SAP systems come with built-in encryption, strict access control, and detailed audit logs — the basics every insurer needs. They’re also certified under standards like GDPR and ISO 27001. LeverX helps configure those safeguards properly, so security isn’t just a checkbox.

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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.