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insurance sector transformation strategy

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Insurance Transformation Strategy 10 Operation Help Desk Core Channels IT Analytics Integration Enterprise HR Finance Accounting Budgeting policy claim reinsurance omni channel APIs relations with aggregators critical for digital disruption critical for digital disruption must for operational efficiency. commissions Don’t define IT stack considering the product that you put in enterprise stack!. Other words, Do not use SAP BW ! marketing automation crm www mobile web mobile app sales compliance management You can put SAP R/3 for this stack. As database SAP offers SAP Hana and you can use it. But hardware costs will be very high ! Keep customization ratio below %20! Consider SAP R/3 implementation cost to decide. It can not be too much (it is commodity )! Don’t define IT stack considering the product that you put in enterprise stack!.Don’t use SAP PI ! Sales Force, Sugar CRM or Microsoft Dynamics are products. And they all have market place. You can use them. Sales Force is the most expensive one! SAP R/3, Oracle ERP and ZOHO, Microsoft Axapta is other players in this stack. Microsoft SQL 2016 is appropriate considering performance and cost and also implementation costs! Oracle Db is very expensive. Stay away from mpp appliance solutions ! For Machine Learning algorithms, Microsoft Azure is very good and better price. The other player is SAS but it is more expensive reports models new products mean, your operation has to be reshaped! Especially application monitoring will be critical If you put SalesForce, Sugar Crm or Microsoft Dynamics, you can easily handle omni channel strategy! fraud for fraud analytics, FRISS can be used for non-life insurance. underwriting new product development contract collection & reimbursement Billing portal for agents Rule Engine Bpm Web Services hardware architecture is critical to control cost. Do Better analysis for appliances such as IBM Pure or Oracle Exadata etc.. Hardware costs vs Operational headcount costs has some kind of trade-off modularity and soa is critical. stay away from old tech. This is a long term investment! some vendors provide channels modules, some of them gives web services to increase flexibility aggregators some vendors provide core and some IT stacks together such as reporting, bw, channel apps etc.) Is this a good thing or bad thing? You should evaluate this! This gives you cost efficiency in short term, but you lose long term flexibility, timet2market etc.. This trade-off impacts digital transformation strategy. collection & reimbursement Billing benefit quotation products are not so mature as sap r/3. so there may be consolidations & mergers ! this can be handled either in core or enterprise ! trade- off

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Page 1: Insurance sector transformation strategy

Insurance Transformation Strategy10

Operation

Help Desk

CoreChannels

IT

Analytics

Integration

Enterprise

HR Finance

AccountingBudgeting

policy claimreinsurance

omni channel

APIsrelations with aggregators

criticalfordigital

disruption

criticalfordigital

disruption

mustforoperationalefficiency.

commissions

Don’tdefineITstackconsideringtheproductthatyouputin

enterprisestack!.Otherwords,DonotuseSAPBW!

marketing automation

crm

www

mobile web

mobile app

sales

compliance management

YoucanputSAPR/3forthisstack.AsdatabaseSAPoffersSAPHanaandyoucanuseit.Buthardwarecostswillbeveryhigh!Keepcustomizationratio

below%20!ConsiderSAPR/3implementationcosttodecide.Itcannot

betoomuch(itiscommodity)!

Don’tdefineITstackconsideringtheproductthatyouputin

enterprisestack!.Don’tuseSAPPI!

SalesForce,SugarCRMorMicrosoftDynamicsareproducts.Andtheyallhavemarketplace.Youcanusethem.SalesForceisthe

mostexpensiveone!

SAPR/3,OracleERPandZOHO,MicrosoftAxaptaisotherplayers

inthisstack.

MicrosoftSQL2016isappropriateconsideringperformanceandcostandalsoimplementationcosts!OracleDbisveryexpensive.Stayawayfrommpp

appliancesolutions!

ForMachineLearningalgorithms,MicrosoftAzureisverygoodandbetterprice.TheotherplayerisSASbutit

ismoreexpensive

reportsmodels

newproductsmean,youroperationhastobereshaped!

Especiallyapplicationmonitoringwillbecritical

IfyouputSalesForce,SugarCrmorMicrosoftDynamics,youcaneasilyhandleomni

channelstrategy!

fraud

forfraudanalytics,FRISScanbeusedfornon-life

insurance.

underwriting

new product development

contract

collection & reimbursement

Billingportal for agents

RuleEngine

Bpm

WebServices

hardwarearchitectureiscriticaltocontrolcost.DoBetteranalysisforappliancessuchasIBMPureorOracleExadataetc..HardwarecostsvsOperationalheadcountcostshassomekindof

trade-off

modularityandsoaiscritical.stayawayfromoldtech.Thisisalongterminvestment!

somevendorsprovidechannelsmodules,someofthemgiveswebservicesto

increaseflexibility

aggregators

somevendorsprovidecoreandsomeITstackstogethersuchasreporting,bw,

channelappsetc.)Isthisagoodthingorbadthing?Youshouldevaluatethis!

Thisgivesyoucostefficiencyinshortterm,butyouloselongtermflexibility,

timet2marketetc..Thistrade-offimpactsdigitaltransformationstrategy.

collection & reimbursement

Billing

benefit

quotation

productsarenotsomatureassapr/3.sotheremaybeconsolidations&mergers!

thiscanbehandledeitherincoreorenterprise!trade-

off

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