The system of financial statements disclosure in the insurance sector


Implementing the financial statements reporting with SAP Disclosure Management (SAP DM) means to fully review the procedures for preparing the dossiers and other documentation, according to a new logic that allows the customer to: optimize its processes, meet audit requirements, and centralize and standardize the collaborative dynamics between different offices

In order to ensure these improvements, however, it is necessary to deal with requests for customization, specific to each customer company, and to automate processes that are not always guaranteed by the standard application.


The solution adopted, in order to ensure improvements in the production of the financial reporting for the insurance group, was the combined implementation of two SAP applications: SAP DM – Disclosure Management, used in its classic role as documentary, and SAP BPC – SAP Business Planning and Consolidation, which serves as a database and as a bridge with accounting. 

The implementation process involved the construction of specific rules, one for each item of the tables to be produced, based on accounts and accounting attributes. These rules have allowed to calculate the accounting balance of each item, creating an aggregate database (a few thousand entries) that could be imported and managed effectively in Office Excel. 

The SAP BPC module has ensured an environment in which the database can be collected and managed and, through its Office EPM component, provides excel files stored in SAP DM to recall balances at any time in order to populate the tables, such as financial statement formats, reports and notes, attachments and forms. Through internal DM links, it is possible to call up the tables in Office Word, and to ensure that the updating of the database is fully implemented. 

The standard DM functionalities have also allowed a versioning system capable of meeting the audit requirements, making comparisons between versions and restoring the correct version in case of errors. It is also possible to amend the accounting data and to fill the manual tables in order to produce and manage each type of table; these data are saved in SAP BPC via an input form, allowing to generate the overall database and produce the layout required by the regulator (eg BIL file according to IVASS regulations).


  • An application that centralizes and optimizes the disclosure process was made available
  • The collaborative process of drafting the financial statements and the cooperation between the offices have been improved, so that the information exchanges take place in a centralized environment and not by email exchange
  • A versioning system to deal with audit requests have been implemented
  • A suite of programs that allow the management of the rules, the calculation of the balances and the production of the tracks for IVASS have been implemented


The implementation of SAP DM has allowed to increase the involvement of the offices in the disclosure process, increasing the cooperation and the traceability of the activities carried out. The production of documents has always been regular for all deadlines.

Paolo Misirliyan
Associate Partner - Qintesi

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