ACORD-based data exchange using SAP Reinsurance Management
Customer Story
Sompo International Holdings Ldt successfully increased profitability and efficiency by using SAP Reinsurance Management eXchange Data Interface (XDI) for the automated processing of ACORD messages for loss advice, statements of accounts and financial statements.
Company
Sompo
.
Japanese public insurer
Headquarters
Shinjuku, Tokyo, Japan
Industry
Insurance,
Reinsurance
What was
Accomplished
Sompo is now enabled to move the focus from the data entry to the development of their business. Furthermore, the speed of processing business transactions is increased and cash reconciliation is accelerated.
Solution
SAP Reinsurance Management
- The SAP Reinsurance Management eXchange Data Interface (XDI) solution is now being used for automated data exchange with both broker and London Market bureau communication.
- As part of the project, the solution was successfully integrated into the existing system landscape of Sompo.
- In addition, useful extensions were implemented for customer-specific requirements.
Challenges
Eliminating Manual Data Processing
- Painful and time consuming manual processing in high-volume
- High complexity of integrating different systems
- High processing costs and error-prone
Benefits
Automation Efficiency
- High degree of end-to-end automation from Broker systems to SAP Reinsurance Management
- Reduction of manual work and touchpoints
- Enhancement of data quality
- Tool-supported management of ACORD messages with regard to error management, rejections and monitoring
Why
msg global
Operating from offices across the globe, our expert teams help clients achieve operational efficiency and improve decision-making capabilities.
INDUSTRY
Experts
An international reinsurance team of 300+ consultants with extensive technical knowledge and reinsurance experience.
Reliable
Partnership
We guide you through your transformation project and support you in every phase of using our solutions.
Innovative
Leadership
Actively involved in shaping automated data exchange due to close relationship with ACORD and the Ruschlikon Community.
Flexible
Solution
Empowers your business to grow, expand into new regions, and explore diverse business opportunities.
How can we help?
Contact Us Today
Over 2,500 insurance professionals work globally under the msg brand. At client locations, development offices and innovation centers, we continually add to our expertise to exceed client expectations.
