INTELLIGENT BRANDS // Software for Business
POWERED BY
OUR GOAL SINCE SETTING
UP THE COMPANY 11 YEARS
AGO HAS BEEN TO CREATE
THE MOST EFFICIENT
UNDERWRITING PLATFORM.
insurance groups in the world and underwrites, as a lead market, high
tech insurance classes of space, aviation and energy insurance.
With a commitment to delivering the future of innovation in
insurance, elseco is making this investment to support its existing
and prospective member and direct insurance clients in embracing
the opportunities emerging through a scalable and open
technology platform.
“We are delighted to team up with elseco to work on its innovative
ATOM product,” said Sakis Tassoudis, GM Financial Services at SAP
BY BOOSTING THE CAPACITY,
POWER AND FUNCTIONALITY
OF ITS PLATFORM, WE AIM TO
HELP ELSECO TO SERVE MORE
CLIENTS IN A STREAMLINED,
COST-EFFECTIVE AND
EFFICIENT MANNER.
EMEA South. “By boosting the capacity, power and functionality
of its platform, we aim to help elseco to serve more clients in a
streamlined, cost-effective and efficient manner.”
headquarters in DIFC. This is exactly what we aim to enable our
member companies to achieve as we continue to deliver on our
commitment to drive the future of finance in the region. The areas
of innovation and technology remain a key focus for us, and we
are particularly excited about the InsurTech and aviation sectors
as we continue to see growing demand for innovative and flexible
financial services solutions.”
The scalable and flexible ATOM platform will allow elseco to cost
effectively extend to multiple lines of insurance, increase the number
of insurance members, allow third parties to utilise the elseco platform
as their underwriting system and expose the elseco platform to third
parties as an eCommerce platform. Through the modular and flexible
SAP platform, elseco expects to gain a competitive advantage with
greater business agility and lower total cost of ownership.
“Our goal since setting up the company 11 years ago has been to
create the most efficient underwriting platform by continuously
improving our systems, offering relevant capacities, and having
best-in-class multi-dimensional and entrepreneurial teams operating
globally,” said Laurent Lemaire, Chairman and CEO of elseco. “The
SAP technology provides us with the tools to realise this vision.”
In addition to Hybris billing and SAP Insurance Product Lifecycle and
Underwriting Management Product Suite, elseco will also deploy S4/
HANA Suite, Predictive Analytics and Hybris Commerce, all powered
by SAP HANA. Predictive analytics coupled with big data will allow
elseco to develop automatic proprietary pricing models for high
volume lines of insurance and Hybris Commerce will enable elseco
to get closer to the source of business and reduce the costs of the
supply chain.
Through its digital core, which provides advanced real-time data
analytics as well as open architecture, SAP technology enables elseco
to redefine experiences for its member and direct insurance clients. As a market leader in enterprise application software, 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 organisations to work together more
efficiently and use business insight more effectively to stay ahead of
the competition.
Salmaan Jaffery, Chief Business Development Officer at DIFC
Authority, said: “It is very exciting to see elseco embarking
on new partnerships and growth opportunities from its SAP applications and services enable more than 365,000 business
and public sector customers to operate profitably, adapt continuously
and grow sustainably. n
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