New York Life picks SAP to transform finance for insurance business

SAG AG (NYSE:SAP) said it was chosen by New York Life to enable an enterprise-wide financial transformation in order to enhance its overall business strategy.

Plans are for New York Life to merge its middle- and back-office functions into one integrated platform via SAP Insurance Analyzer analytic applications leveraging the SAP HANA platform. The contract was signed in March 2014.

In collaboration with SAP partner msg global solutions for development and implementation, SAP Insurance Analyzer offers New York Life a solution architecture powered by SAP HANA to take a fully integrated and transformative approach to finance and risk.

The SAP for Insurance solution portfolio provides an integrated, modular end-to-end insurance offering, including comprehensive integrated capabilities from strategy through finance to operations, powered by leading in-memory and mobile technologies.

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