The FINANCIAL -- In July 2009, Donau Versicherung AG Vienna Insurance Group started implementation of the SAP insurance solution in its life insurance segment.

Hence, the go-ahead has been given for using this standard solution for the actuarial core business also by large groups. The end-to-end solution covers inventory management, management of insurance payments, payment transactions as well as commission payments; in addition, it supports managerial tools such as accounting and Business Intelligence.

"Vienna Insurance Group and SAP work together on the world’s largest project in the insurance industry. The most noteworthy fact is that in the future not only all the insurance companies of the Group, located in 23 countries, will use this SAP solution but that this application also supports all lines of the insurance business (life, property, liability, casualty, health and motor insurance). With the successful SAP go-live of Donau Versicherung AG Vienna Insurance Group, another milestone in the development partnership between the experts of Vienna Insurance Group and of SAP has been reached," Vienna informed.

“Vienna Insurance Group and SAP are bound together by a longstanding and successful partnership. We consider this project pioneering – not only for Vienna Insurance Group but for the entire insurance industry. The innovative IT solution allows us to optimize business processes while cutting costs. Our customers will be able to take advantage of improved services, while our staff will benefit from simplified and streamlined processes“, stated Günter Geyer, CEO of Vienna Insurance Group.

SAP solution for 20 million contracts

“In the final stage, more than 10,000 users will work with this SAP solution, and it will be used to manage 20 million insurance contracts. Currently, this is the world’s only comprehensive IT solution based on standard software for insurance groups of all sizes. We are pleased that the globally most comprehensive and most innovative insurance application is used by an Austrian group“, said Andreas Muther, CEO of SAP Austria.

Modular solutions for efficient rollout

Some Group companies of the Vienna Insurance Group are already using the IT solutions for customer account management, issuing insurance policies, contract management, claims and payments management as well as collection/disbursement in the segments property, household and casualty insurance as well as motor and life insurance even at this early stage.

Rollouts are being prepared on an ongoing basis by all Group companies of Vienna Insurance Group. The pillars of the speedy further development of the SAP solution are multilingualism, a product-driven approach, a flexible process design and an audit-proof system. Standardized and fully automatic processes supporting each individual clerk minimize the administrative burden and boost competitive advantage.

The listed Vienna Insurance Group (VIG) is one of the leading insurance groups in CEE headquartered in Vienna. Outside of its home base in Austria, Vienna Insurance Group is also active, through subsidiaries and insurance holdings, in Albania, Bulgaria, Germany, Estonia, Georgia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, Hungary, Ukraine and Belarus. It also has branches in Italy and Slovenia.

On the Austrian market, the Vienna Insurance Group (VIG) positions itself with Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung.

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