Talanx Group, an insurance group in Germany, said that it will implement the SAP Policy Management application to unify the property and casualty lines of businesses at its subsidiaries HDI-Gerling Firmen und Privat Versicherung and HDI Direkt Versicherung.
By renewing the policy administration IT landscape with SAP software, the insurance group said that it aims to increase the efficiency of policy administration, improve customer service and accelerate the time-to-market for delivering new insurance products.
According to Talanx, the software’s integration with both SAP and non-SAP applications allows the group to orchestrate business processes across its insurance business in order to adapt and respond appropriately to market changes.
Talanx aims to standardise and automate its policy processes across its lines of business in property and casualty. It plans to develop new tariffs and implement them using a flexible modular structure; expedite contract processing through automated processes; and extend qualification of employees.
Herbert Haas, CEO of Talanx Group, said: The SAP solution will help us streamline our divisional structure, improve our flexibility and control. As a result, we are able to adapt faster to changing markets and customer demands.
Leo Apotheker, CEO of SAP AG, said: We are proud to play an important role in Talanx’s strategic realignment initiative. The agreement with the Talanx Group further underlines our commitment to the insurance industry, and to working closely with leading insurance providers to help them achieving their strategic business objectives.