WALLDORF, Germany, June 19, 2014 /PRNewswire/ -- SAP AG (NYSE: SAP) today announced that it has signed a multi-billion dollar contract (TWD) with Nan Shan Life Insurance Co., Ltd. to build the insurer's next-generation IT infrastructure as part of its multi-year business transformation initiatives. The IT upgrade project, named "Envision," enhances the efficiency of business processes and creates best practice solutions tailored for the insurance industry in Taiwan. Nan Shan has selected the SAP® ERP application, SAP CRM application, SAP® BusinessObjects™ business intelligence (BI) solutions, SAP Mobile Platform and the SAP HANA® platform to revamp its existing systems in order to improve sales productivity and customer experience across multiple touch points.
"Insurance customers are increasingly well informed, more demanding and better connected than ever before," said Ross Wainwright, global head of Financial Services Industries, SAP. "To service these customers, insurers need powerful, scalable analytics to manage data effectively and make fast, smart and informed decisions. With comprehensive SAP solutions for the insurance industry, we are well poised to help Nan Shan address its business requirements. We envision accurate, up-to-date information at the fingertips of every Nan Shan employee to elevate the customer experience and better capitalize on potential business opportunities."
This transformation project will include customer relationship management, core insurance system, enterprise resource planning, commercial database integration and business analytics modules from SAP. Implementation began in May and is expected to take two to three years to complete. Nan Shan will devote more than 100 employees to the project on a part-time and full-time basis. SAP will also assemble dozens of experts from around the world to assist with developing this world-class innovative system and software suite.
The objectives of Nan Shan Life and SAP's collaboration on the Envision Project include:
- Building a CRM platform from a holistic perspective that incorporates channels, clients and employee data in a centralized housed location
- Reforming processes through the improved efficiency of integrated IT systems and exclusive data and management reports
- Maximizing the efficiency and value of all business processes, including operations management, finances and investment accounts