) launched the world's first cloud-based solution for tracking
and analyzing Insurance Service Office (ISO) Circulars. This
solution is targeted for a seamless monitoring of the insurance
industry for gaining a deep insight into the ISO circulars and
easily following changes in them.
SAP's solutions for insurance provide advanced claims, policy
and billing management capabilities, enabling insurers to
implement best-in-class business processes, optimize reinsurance
processes, and gain sophisticated functionality for statutory
In Mar 2013, SAP acquired Ontario-based Camilion
Solutions Inc., which focuses on product development, product
life-cycle and underwriting solutions for the insurance
industry. The transaction broadened SAP's solution portfolio in
the insurance space and enabled it to leverage Camilion's deep
expertise in further developing the product.
This cloud-based business tool will be helpful in making more
timely and frequent product updates, in accordance with the
regulatory changes. This is also likely to standardize the
process for interpreting and adopting ISO changes, thereby making
it more time and cost efficient. The advanced solution, backed by
historical information, will make decision making easier and
faster and thus will enable staff to focus more on high-value
work, while the regulatory part will be managed by the
With these advanced and innovative solutions, SAP is
constantly developing and broadening the scope of its insurance
business solutions. SAP is a recognized leader in providing
collaborative e-business solutions for all types of industries
for every major market. Currently SAP is the world's largest
business software company and the third-largest independent
software provider overall.
SAP currently has a Zacks Rank #1 (Strong Buy). Other stocks
operating in the same industry and worth reckoning at the moment
Aspen Technology Inc.
), both carrying Zacks Rank #1 (Strong Buy), while
) has Zacks Rank #2 (Buy).
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SAP AG ADR (SAP): Free Stock Analysis Report
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