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November 21, 2012

SAP AG Recognized with Three Awards from Celent

By Rahul Arora, TMCnet Contributor

SAP (News - Alert) AG (SAP) recently announced that the SAP Claims Management application has received three XCelent awards from Celent, an international financial research and consulting firm. Celent has highlighted SAP as the winner of the XCelent Functionality Award, the XCelent Customer Award and the XCelent Service Award, in its recent industry report: "Claims System Vendors: European General Insurance 2012."

SAP Claims Management can help the clients reduce the time it takes their claim handlers to resolve claims. A native business-rules engine can even help the clients automate claims, resulting in no- or low-touch claim handling. The integration of external service providers such as repair shops or rental car companies, along with support for tracking the repair process, can help them manage claims more effectively and control loss costs.

"These distinctive honors from Celent underline the considerable investments SAP has made to create a robust and flexible solution for insurers that covers the full spectrum for managing and processing claims from beginning to end," said Robert Cummings, head of Insurance Business Unit, SAP. "Integrated functionalities, depth of service and positive customer adoption are making SAP Claims Management a go-to solution for carriers throughout the world."

The users can commission external services directly from the application and set deadlines. Moreover, they can also assign external service providers as business partners with their own roles and add partner-specific data. For home contents replacement of big-ticket items, the claim handlers can use the built-in support for the procurement process with benefits catalogs and contractual agreements.

Although designed as a stand-alone application, SAP Claims Management interfaces with internal, external, SAP and non-SAP applic ations – both upstream and downstream. This includes native integration with other core applications from the SAP for Insurance solution portfolio, such as the SAP Collections and Disbursements for Insurance application and SAP Policy Management application. This integration gives the clients full transparency and analysis capability across all their policies, claims and financial processes.

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Edited by Rachel Ramsey

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