msg: Intelligent automated Claims and Fulfillment
msg global solutions is a systems integrator, software development partner and managed services provider focused on SAP solutions. msg has 40 years of experience in financial services and has been working with SAP for 20 years. Expertise in financial services and cooperation with SAP has created a wide range of insurance solutions that complement the industry portfolio including core applications, finance and risk solutions, analytics and customer experience platforms.
The recipient of the 2019 SAP Pinnacle Award for Industry Innovation operates from offices across the globe. Their expert teams help clients achieve operational efficiency and improve decision-making capabilities. While the heart of their expertise is in the financial services sector, their solutions are utilized in a wide range of industries. Their portfolio extends from customized consultancy and professional services to mature standard software products and all-inclusive solutions that cover every aspect of the insurance business. Their products and solutions are not only deployed successfully in life insurance and retirement planning, but also for non-life, personal liability and health insurance.
Completely new claims experience
msg global develops and implements intelligent insurance extensions on top of SAP for Insurance. Especially in the area of SAP C/4 HANA Customer Experience msg global provides a solution combining traditional claims solutions together with purchase networks, such as Ariba, in order to deliver a completely new claims experience.
In case of home insurance, the new approach is the following: the moment a claims happens, the insured can self-service register the claim, receive an immediate approval and immediately select a replacement item and even arranging for next day delivery. In the event of any services requirements, the customer can schedule them directly. This increases customer satisfaction and loyalty and presents a cost-saving for the insurer.
In the case of car insurance, the solution adds telematics and allows a telematics digital car claims experience. Once a car accident occurs, the solution will calculate immediately very precisely the claims amount by comparing the telematics data with a database of 3 million car insurance cases.
For telematics digital claims, the solution combines a telematics data platform, called msg.Internet-of-Things-Analyzer, with the digital car claims hub. These solutions are already used by swiss Mobiliar Insurance (msg.IoTA) and Zurich Insurance (Telematics Claims).
Key benefits of automated claims and self-service fulfillment
The msg solution based on SAP C/4 HANA Customer Experience presents unique ways to digitizing and automating claims, and fulfillment, while protecting the existing investment in core platform transformation. The solutions can wrap around any core platform to provide a self-service, retail-oriented experience to customers in the claims cycle with direct access to the supply chain for immediate fulfillment.
Customers can be engaged more effectively in a robust fashion, process claims more efficiently and at a lower cost, deliver a retail-like self-service experience, increase customer loyalty and retention rates, and increase revenues. But that is just the first stage of creating a differentiated customer engagement strategy, new business models, and new revenue streams. It also moves the focus outside of the claims process to a broader B2C marketplace, giving more opportunities to engage customers and to transition toward a full B2B insurance ecosystem.
How it works
Providing a retail experience to customers in the claims process and automating fulfillment through direct access to the supply chain, creating a basis for broader customer engagement models such as the B2C marketplace.
Why we selected msg global for DIA Munich
msg life has been setting standards in the market with its software and consulting solutions for insurance companies. Their solution addresses insurance companies who want to reduce their costs for claims handling by automating the process.
At DIA Munich Jay Mincher, Senior Consultant at msg global and James Eardley, Global Director, Industry Marketing SAP demonstrated on stage msg intelligent automated claims and fulfillment. One solution which combines the integration of self-service automated claims, intelligent motor claims, critical event bundles, marketplace B2C and ecosystem B2B.
Who is msg global?
msg, founded in 1980, is an independent software and consulting company with a strong focus on Insurance. In 2018 msg has realized 980 Mio EUR turnover with more than 7.500 people. With 3.500 people, msg is developing and implementing solutions for Insurance and Reinsurance companies covering the end-to-end insurance business process from front-office (customer experience) to mid-office (core insurance) to back-office (finance and risk).
Based on the experiences from its own Insurance Suite for the German speaking countries during its first 20 years, msg is co-/developing and implementing SAP’s insurance solutions since 1997. With worldwide 1000 SAP developers and 1300 SAP consultants, msg owns one of the most significant development and expert pools in SAP for Insurance.
To ensure the successful implementations worldwide of the SAP for Insurance solution msg global has been founded in 2008. With market units in 26 countries, msg supports insurers, banks, and partner companies in all regions globally with the necessary SAP enablement and SAP expertise of 1.000 people (100 Mio EUR).
msg and SAP have a powerful and close partnership, starting with the co-/development of the SAP Core Insurance systems such as reinsurance, product, policy, claims management and the SAP solutions for Finance & Risk. Since 2015 msg is extending the SAP Customer Experience solutions of SAP C/4 Hana for the digitalization needs of Insurance companies.
Peter Umscheid, CEO msg global solutions ag
”With the heavy investments of SAP in Customer Experience (SAP C/4 Hana) and the longstanding business process knowhow of msg in insurance, we have a unique offer for insurance companies that combines 360° customer view, seamless integration, customer lifecycle support, AI usage in the cloud and Ease-of-Use” Peter Umscheid, CEO msg global solutions ag