{"id":10362,"date":"2019-10-30T17:40:44","date_gmt":"2019-10-30T16:40:44","guid":{"rendered":"https:\/\/www.qintesi.com\/case-studies\/redditivita-dei-prodotti-assicurativi-vita\/"},"modified":"2022-05-04T17:54:41","modified_gmt":"2022-05-04T15:54:41","slug":"redditivita-dei-prodotti-assicurativi-vita-2","status":"publish","type":"portfolio","link":"https:\/\/www.qintesi.com\/en\/portfolio\/redditivita-dei-prodotti-assicurativi-vita-2\/","title":{"rendered":"Profitability of life insurance products"},"content":{"rendered":"
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Challenge<\/h4>

The increasing complexity of the market, both in terms of competition and regulation, requires insurance companies to improve their ability to analyse the profitability of their products in order to better understand the link between business and financial parameters based on common tools, methodologies and drivers.<\/p>

\u00a0<\/h4>

Solution<\/h4>

To address this challenge, improving the profitability analysis of life products, it was necessary both to\u00a0define a logical model of reference shared\u00a0<\/b>between the various business functions, and to\u00a0manage the individual processing steps<\/b>\u00a0in a structured manner, ensuring a complete auditability of the model.<\/p>

This was possible by developing\u00a0SAP Profitability and Performance Management (PaPM)\u00a0<\/b>solution capable of:<\/p>

  • Managing\u00a0<\/b>a\u00a0high level of granularity of information<\/b>\u00a0(single policy)<\/li>
  • Integrating and enriching different databases\u00a0<\/b>from accounting, actuarial and portfolio systems, guaranteeing their balance and quality<\/li>
  • Calculating and allocating in detail, and with complex drivers, all the information\u00a0<\/b>for which the minimum analysis detail is not native<\/li><\/ul>

    \u00a0<\/p>

    The\u00a0final result\u00a0<\/b>was the\u00a0creation of a historicised multi-dimensional database\u00a0<\/b>in which the accounting, management and actuarial flows are linked to the single policy in order to allow complete transparency and traceability of the information. Furthermore, the minimum level of detail allowed the integration of all the significant and necessary attributes to support analysis at different levels of aggregation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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    Results\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tImplementation of a structured IT process<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tIntegration and normalization of different data sources in a single environment available to different business functions<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tAssignment of the various flows (accounting, management, actuarial) to the single policies, to provide significant information to assess the margins of the various insurance products<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tSimplification of communication between different business functions by providing a single and shareable database<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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      Statement<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      The technological solution used to support the initiative, SAP Profitability and Performance Management (PaPM), has maximized the use of data, calculations and rules common to the various business areas, ensuring the possibility of having immediate and shareable results.<\/div>\n\t\t\t\n\t\t\t\t\t\t
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      \n\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t
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      Mara Slucca<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
      Senior Manager PMP\u00ae Certified - Qintesi<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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      Le informazioni contenute in questo documento sono di propriet\u00e0.
      Copyright \u00a9 2014 Qintesi S.p.A. Tutti i diritti riservati.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

      Challenge The increasing complexity of the market, both in terms of competition and regulation, requires insurance companies to improve their ability to analyse the profitability of their products in order to better understand the link between business and financial parameters based on common tools, methodologies and drivers. \u00a0 Solution To address this challenge, improving the […]<\/p>","protected":false},"author":3,"featured_media":20368,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"portfolio_category":[],"portfolio_tag":[],"servizi-offerti":[808],"moduli_implementati":[333],"settore":[827],"class_list":["post-10362","portfolio","type-portfolio","status-publish","format-standard","has-post-thumbnail","hentry","servizi-offerti-digital-transformation","moduli_implementati-sap-papm-en","settore-financial-services-en"],"yoast_head":"\nProfitability of life insurance products - 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