SAP announces the introduction of SAP Insurance Analyzer analytic application to address two challenging regulatory topics facing the insurance industry. An integrated finance and risk software solution, the application aims to help insurance companies address the upcoming new accounting standards for insurance contracts (IFRS4) and the Solvency II standard model.

The insurance industry is challenged by a wave of new regulations in financial reporting and risk management. Coupling new regulations with existing IT challenges, such as complex and fragmented system landscapes and insufficient data quality, insurance companies are in search of an approach that enables them to adapt to new regulations, while improving data management and data quality.

In a recent Solvency II report Gartner makes the recommendation to "…analyze, together with the business department, potential solution synergies between Solvency II and IFRS4. The delay of the regulatory framework should be an incentive to review your entire system architecture and reporting infrastructure."