To enable insurers to offer the right insurance offerings to clients while helping reduce complexity of regulatory compliance, SAP announces a cloud-based solution for tracking and analyzing Insurance Service Office (ISO) Circulars.
The SAP Circular Authority for Insurance solution aims to help insurers track circular changes, plan for their implementation, analyze the potential impact on company products and record adoption decisions.
Maintaining rates, rules and forms across multiple jurisdictions is a complex and labor-intensive process for most insurers. With hundreds of changes impacting each line of business every year, it is difficult to stay on top of the latest loss cost trends, policy forms, and regulatory rules.
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