Miami - To deliver on the commitment to promote ecosystem-based innovation and collaboration, Walldorf, Germany-based SAP AG announced that the industry value network (IVN) for insurance will join 13 existing industry-focused IVNs hosted by SAP. The IVN for insurance will bring together independent software vendors, system integrators and SAP to co-innovate with insurers to help them improve profits, customer relationships and their competitive position through effective applications and a flexible IT environment. Members of the IVN for insurance will initially focus on issues facing property/casualty insurers in the North American market in the areas of claims, customer service, sales and distribution, and underwriting and policy processing.Plans for the IVN for insurance currently include key innovative partners in the insurance industry: Adobe, CGI, IBM, MSG, Opentext, Planetsoft and Skywire. The partners and SAP will initially collaborate to bring together industry expertise, knowledge and capabilities in a multi-vendor ecosystem to address the high-value business needs of customers. Customers will be invited to participate in the second phase of the IVN.

"Increased competition and heightened customer demands are putting additional pressure on insurers," says Peter Dunning, executive VP, Strategic Industries, SAP. "The insurers that will thrive are those nimble enough to respond to speed of change. The IVN for insurance is another co-innovative step from SAP and its partners to address such challenges faced by insurers and help them move into an environment where they can future-proof their operations."  

IVN bring together SAP, partners and industry leaders to solve the most pressing business challenges through the creation and continual improvement of end-to-end business processes. Insurance will join a growing list of IVNs, including: aerospace and defense, automotive, banking, chemicals, consumer products, forest and paper, high tech, mining, oil and gas, public sector, retail, travel and logistics services, and utilities.  For more information on IVNs, visit http://www.sap.com/platform/ecosystem/ivn/.

Source: SAP AG

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