SAP Expands Insurance Offering With Acquisition of Camilion
Customers Will Benefit from First Fully Integrated Insurance Suite Managing
Strategy, Finance and Operations Powered by Leading-Edge In-Memory and Mobile
WALLDORF, Germany, March 7, 2013
WALLDORF, Germany, March 7, 2013 /PRNewswire/ --SAP AG (NYSE: SAP) today
announced plans to acquire Camilion, a leading provider of insurance product
development, product life-cycle and underwriting solutions that help insurance
companies significantly improve the quality of the business they write and
bring new products to market faster.
The transaction will broaden the SAP® solution portfolio in the insurance
space, providing insurers with powerful software tools to streamline the
management and creation of new products. It also will give insurance brokers
and underwriters — those who deal directly with customers — simple, modern
tools that speed up transactions. Together, these components could help
insurers grow their businesses and reduce costs.
Many insurers today struggle with outdated core insurance systems that are not
agile enough to meet rapidly changing consumer needs and the latest technology
trends. Insurers seek to modernize these core systems in order to increase the
quality of their business and deliver new products to the market more quickly.
At the same time, they need software tools that provide instant analysis and
simulation across huge volumes of data — all while protecting the value of
past IT investments.
The move adds significant value to the integrated SAP® for Insurance solution
portfolio and prominently positions SAP in the rapidly emerging market for
integrated core insurance platforms, the industry's first "Super Suite."
Traditional solution suites for the insurance industry have been limited to
policy, billing and claims. SAP, together with Camilion, plans to provide an
integrated yet modular end-to-end insurance offering: the SAP® Business
All-in-One solution for Insurance. This will include comprehensive integrated
capabilities from strategy through finance to operations powered by
leading-edge in-memory and mobile technologies, available both in the cloud or
"With this acquisition, SAP is able to meet the needs of insurers that face a
challenging new business environment and that need to make significant product
and strategy changes quickly at low risk," said Simon Paris, global head of
Financial Services, SAP. "Camilion brings deep expertise and trusted
relationships in the new age of insurance applications, well recognized by
customers and analysts."
"We are convinced this is a 'win-win-win,'" said Ross Orrett, president and
CEO, Camilion. "It's a win for SAP and Camilion, for our joint customers and
for an industry that is modernizing at a staggering pace. We intend to deliver
best-in-class products and services from a combined team with unmatched depth
in the insurance industry."
Leading insurers use Camilion's capabilities to perform sophisticated
underwriting of some of the most complex global risks. These capabilities
integrate seamlessly with back-end systems to support the entire product life
cycle, including the development of new business across the world.
Product Development and Management
Camilion's ProductAuthority® helps customers manage everything about insurance
products into re-usable components that can be rapidly adapted to form new
products or enhancements. Camilion and SAP have uniquely built their
respective solutions from the ground up to externalize product information and
agnostically integrate with any core system.
Full Solution for ISO
Camilion helps insurers address the requirements of the Insurance Services
Office (ISO) and state policies and regulations in the U.S. Using an advanced
automated process for importing and testing content, Camilion builds complete,
functional insurance product definitions as interpreted by ISO. The
combination of Camilion and SAP solutions will provide a complete platform for
insurers with operations in the U.S.
Mobile and "Big Data"
Camilion intends to expand its mobility capabilities for quoting and
underwriting, which is critical as brokers and underwriters increasingly work
remotely and rely on the latest applications on iPad, iPhone and other mobile
devices. One Camilion customer already has more than 10,000 brokers using this
For more information, visit the SAP Newsroom.
Camilion was founded in 2001 and is an innovative software company that
leading insurers use to gain enterprise-wide agility with their products and
underwriting. It is privately held, with offices in Canada and the United
States. SAP and Camilion have collaborated since 2008.
As market leader in enterprise application software, SAP (NYSE: SAP) helps
companies of all sizes and industries run better. From back office to
boardroom, warehouse to storefront, desktop to mobile device – SAP empowers
people and organizations to work together more efficiently and use business
insight more effectively to stay ahead of the competition. SAP applications
and services enable more than 232,000 customers to operate profitably, adapt
continuously, and grow sustainably. For more information, visit www.sap.com.
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