SAP announces plans to acquire Camilion, a provider of insuranceproduct development, product life-cycle, and underwriting solutionsthat help insurance companies improve the quality of the businessthey write and bring new products to market faster.

The transaction will broaden the SAP solution portfolio in theinsurance space, providing insurers with software tools tostreamline the management and creation of new products, accordingto SAP. It also will give insurance brokers and underwriterssimple, modern tools that speed up transactions. Together, thesecomponents could help insurers grow their businesses and reducecosts.

"With this acquisition, SAP is able to meet the needs ofinsurers that face a challenging new business environment and thatneed to make significant product and strategy changes quickly atlow risk," says Simon Paris, global head of Financial Services forSAP. "Camilion brings deep expertise and trusted relationships inthe new age of insurance applications, well recognized by customersand analysts."

"We are convinced this is a 'win-win-win," says Ross Orrett,president and CEO, Camilion. "It's a win for SAP and Camilion, forour joint customers and for an industry that is modernizing at astaggering pace. We intend to deliver best-in-class products andservices from a combined team with unmatched depth in the insuranceindustry."

The move adds value to the integrated SAP forInsurance solution portfolio and positions SAP in the rapidlyemerging market for integrated core insurance platforms.Traditional solution suites for the insurance industry have beenlimited to policy, billing and claims. SAP, together with Camilion,plans to provide an integrated yet modular end-to-end insuranceoffering: the SAP Business All-in-One solution for Insurance. Thiswill include capabilities from strategy through finance tooperations powered by in-memory and mobile technologies, availablein the cloud or on premise.

SAP believes the acquisition brings improvement to several keyareas, including:

• Global Underwriting: Insurers use Camilion'scapabilities to perform sophisticated underwriting of some ofcomplex global risks. These capabilities integrate with back-endsystems to support the entire product life cycle, including thedevelopment of new business across the world.
• Product Development and Management: Camilion'sProductAuthority helps customers manage everything about insuranceproducts into re-usable components that can be adapted to form newproducts or enhancements. Camilion and SAP have built theirrespective solutions from the ground up to externalize productinformation and agnostically integrate with any core system.
• Full Solution for ISO: Camilion helps insurersaddress the requirements of the Insurance Services Office (ISO) andstate policies and regulations in the U.S. Using an advancedautomated process for importing and testing content, Camilionbuilds complete, functional insurance product definitions asinterpreted by ISO. The combination of Camilion and SAP solutionswill provide a complete platform for insurers with operations inthe U.S.
• Mobile and Big Data: Camilion intends toexpand its mobility capabilities for quoting and underwriting,which is critical as brokers and underwriters increasingly workremotely and rely on the latest applications on iPad, iPhone andother mobile devices.