SAP

SAP Insurance Financial Systems

Composite Score

8.0 /10

CX Score

8.2 /10

5 Reviews Write a Review

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What is SAP Insurance Financial Systems?

Satisfy today’s hyper-connected customers across all channels, including mobile – with SAP software for the insurance industry. Our solutions use the latest technology to help you streamline claims management, simplify policy administration, and proactively manage risk and compliance.

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SAP Insurance Financial Systems Ratings

Real user data aggregated to summarize the product performance and customer experience.

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

94 Likeliness to Recommend

100 Plan to Renew

97 Satisfaction of Cost Relative to Value

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Emotional Footprint Overview

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

+99 Net Emotional Footprint

The emotional sentiment held by end users of the software based on their experience with the vendor. Responses are captured on an eight-point scale.

How much do users love SAP Insurance Financial Systems?

0% Negative

0% Neutral

100% Positive

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Feature Ratings

Average 92

Document Management

Compliance Management

Risk and Fraud Assessment

Accounting and Financial Management

Analytics and Reporting

Workflow Management

Invoice Management

Cash Flow Management

Billing and Invoice Management

Performance Management

Audit Management

Vendor Capability Ratings

Average 92

Ease of Customization

Vendor Support

Ease of Implementation

Availability and Quality of Training

Product Strategy and Rate of Improvement

Quality of Features

Business Value Created

Ease of IT Administration

Usability and Intuitiveness

Ease of Data Integration

Breadth of Features

SAP Insurance Financial Systems Reviews

Reed C.

Role: Operations
Industry: Other
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Jan 2025

Comprehensive Insurance Management Suite.

Likeliness to Recommend

10 /10

What differentiates SAP Insurance Financial Systems from other similar products?

The SAP Insurance financial systems are unique in that they are fully integrated. The platform integrates with multiple SAP and non-SAP systems, such as policy administration, claims management, and financial accounting, to provide a holistic view of insurance operations.

What is your favorite aspect of this product?

One feature that really impressed me is artificial intelligence automation. SAP insurance products use AI in various areas, ranging from underwriting to claims. This entails functions such as automated risk analysis and fraud detection, thereby enhancing the operational efficiency and accuracy of decisions.

What do you dislike most about this product?

One of the most challenging features of SAP Insurance finance solutions is that it is extremely hard to implement and customize. Its broad functionality is enticing, but the learning curve and sometimes implementation times can be quite time-consuming, particularly for businesses migrating from a more straightforward system.

What recommendations would you give to someone considering this product?

Companies considering SAP Insurance Financial Systems will want to check the compatibility of the platform with your existing infrastructure. SAP is particularly good at linking insurance operations to different departments, and therefore, it is ideal for organizations looking for an integrated financial and operational system.

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Himanshi C.

Role: Finance
Industry: Finance
Involvement: Vendor Selection and Purchasing

Validated Review

Verified Reviewer

Submitted Apr 2024

It's helps to simply the work

Likeliness to Recommend

10 /10

What differentiates SAP Insurance Financial Systems from other similar products?

It's ability to make complicate work simple

What is your favorite aspect of this product?

It's Quality and smooth mechanism

What do you dislike most about this product?

I do not dislike anything in this product

What recommendations would you give to someone considering this product?

Highly recommend the product

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Turi G.

Role: Operations
Industry: Other
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Feb 2023

SAP Insurance Financial Systems Review

Likeliness to Recommend

9 /10

What differentiates SAP Insurance Financial Systems from other similar products?

I think what makes SAP Insurance Financial Systems really special are the many features and the fact that it comes at a bargain.

What is your favorite aspect of this product?

Using and deploying SAP Insurance Financial Systems is straightforward The software comes with amazing insurance financial management features It's effective and seamless to integrate

What do you dislike most about this product?

SAP Insurance Financial Systems has been resourceful and no issues

What recommendations would you give to someone considering this product?

I recommend SAP Insurance Financial Systems because it has been very capable in managing insurance financials

Pros

Helps Innovate
Continually Improving Product
Performance Enhancing
Enables Productivity

SAP Insurance Financial Systems

What is SAP Insurance Financial Systems?

Company Details

Book a Free Demo Today!

SAP Insurance Financial Systems Ratings

94 Likeliness to Recommend

100 Plan to Renew

97 Satisfaction of Cost Relative to Value

Emotional Footprint Overview

+99 Net Emotional Footprint

How much do users love SAP Insurance Financial Systems?

Pros

Feature Ratings Average rating of all product features, some of which may not be shown below

Document Management Includes features such as check-in/check-out and versioning controls on documents and artifacts.

Compliance Management Includes compliance controls, compliance rules engine, and compliance monitoring.

Risk and Fraud Assessment Includes the ability to document, mitigate, and respond to project risk conditions across the portfolio and detect instances of potential fraudulent claims.

Accounting and Financial Management Includes accounting and finance functions such as general ledger, accounts payable, and accounts receivable.

Analytics and Reporting Includes historical & real-time dashboard visualizations, detailed & summary reporting and easy data extraction for data analysis.

Workflow Management Includes ability to support flexible and comprehensive workflow-based capabilities.

Invoice Management Includes invoice creation, invoice capturing, invoice approval, and invoice payments.

Cash Flow Management Includes income and expense tracking, as well as cash flow monitoring.

Billing and Invoice Management Includes automated time capture, online bill submission, invoicing, and e-billing.

Performance Management Includes all aspects of performance appraisals and review design: rollout, conducting, tracking, measurement, and goal attainment.

Audit Management Includes data security, audit reports, and revision control.

Vendor Capability Ratings Average rating of all vendor capabilities, some of which may not be shown below

Ease of Customization Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Vendor Support The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Ease of Implementation Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Availability and Quality of Training Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Product Strategy and Rate of Improvement Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.

Quality of Features Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Business Value Created Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

Ease of IT Administration This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Usability and Intuitiveness End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Ease of Data Integration Use this data to determine whether the product will cause headaches or make data integration easy.

Breadth of Features Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

SAP Insurance Financial Systems Reviews

Reed C.

Comprehensive Insurance Management Suite.

Likeliness to Recommend

Pros

Himanshi C.

It's helps to simply the work

Likeliness to Recommend

Pros

Turi G.

SAP Insurance Financial Systems Review

Likeliness to Recommend

Pros

Feature Ratings

Document Management

Compliance Management

Risk and Fraud Assessment

Accounting and Financial Management

Analytics and Reporting

Workflow Management

Invoice Management

Cash Flow Management

Billing and Invoice Management

Performance Management

Audit Management

Vendor Capability Ratings

Ease of Customization

Vendor Support

Ease of Implementation

Availability and Quality of Training

Product Strategy and Rate of Improvement

Quality of Features

Business Value Created

Ease of IT Administration

Usability and Intuitiveness

Ease of Data Integration

Breadth of Features