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Insurance

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Insurance

The age old challenge in the Insurance industry of balancing growth and risk has been exacerbated by the rapidly increasing speed of business. With new technologies and large amounts of data at their disposal, how to make information relevant so businesses can respond in a timely manner is key. We specialize in the integration of data and business processes. Our solution is flexible and scalable, meeting the rising demands of IoT (Internet of Things). VantagePoint understands and meets challenges that come with IoT by architect EPM tools to collaborate with these new technologies, so our clients can forecast, budget and analyze their businesses like never before.

Read Our Insurance Success Story

 

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Our InsuranceClients Have Leveraged SAP BPC to Improve Their Processes On:

Planning / Reporting / Consolidation

  • Improve accuracy on profitability based on by improving industry drivers ranging from retention rates to coverage
  • Reduce complexity of inter-company operations through and shorten financial close cycles by centralization of data
  • Improve analysis on ROI by providing a standard to combining data ranging from loss and expense ratios to policy renewal rates
  • Reduce paper work on business entities with improved reporting

Forecasting / Analytics

  • Increase detail through automating manual operations and self-service by providing tools to the end user to deliver accurate rolling forecast and identify trends and variances quickly
  • Allowing speed-of-through analytics to enhance forecasting performance
  • Improve data allows data science to improve executive decision making

graphic_benefitResults After EPM Implementation:

  • Shortened the time to complete the budget cycle by 3 weeks
  • Increased the number of budget passes completed within the same calendar cycle
  • Provided executives with top-down scenario modeling tool for what-if planning
  • Reduced monthly close by 3 business days