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ICW Group Turns to SAP for Improved Claims and Billing Processing

ICW Group Has Selected SAP Solutions to Upgrade Its Multiple Lines of Business Onto One Platform

Demonstrating ongoing success in providing innovative solutions to insurers worldwide, SAP America, a subsidiary of SAP, announced that ICW Group has selected SAP to support its growth and transformation goals. Rather than work with point solution insurance providers, ICW Group has selected SAP solutions to upgrade its multiple lines of business onto one platform. As more insurers are experiencing the value of consolidation on a single-platform, ICW Group's decision to move away from a siloed information technology (IT) landscape will help to lower its total cost of ownership. ICW Group will implement industry-specific solutions from SAP for claims, payments, billing, financials and corporate performance management.

ICW Group's companies offer a broad range of insurance products that include Auto, Workers' Compensation, Catastrophe, Commercial Property and Surety. Currently licensed in 50 states, ICW Group has aspirations of significant growth, but its existing legacy systems lack the scalable and flexible IT environment needed to grow business and improve operational efficiencies. By upgrading its IT landscape with SAP solutions, ICW Group will have a single platform to manage claims, payments, billing and financials processes. ICW Group customers will also see improvements and additional service options for interacting with the insurer.

"We selected SAP because it was the strongest provider, offering proven industry-specific solutions built on an integrated suite truly supporting our business and SOA technology strategy," said David Hoppen, chief operating officer, ICW Group. "We have a comprehensive five-year growth and transformation strategy. Therefore, we needed to look beyond short-term fixes in our claims, payments and billing operations to the enterprise at large. SAP solutions gave us all the functionality required to meet our current and anticipated needs, and the framework to improve our operational efficiencies and achieve our growth expectations. Since customer satisfaction is of paramount importance, we needed an integrated platform so that our customers will be better served."

With the SAP Claims Management application, ICW Group will be able to better manage the volume of claims. As the company grows and gains transparency across its entire claims processes, it will be better able to maximize cash flow, optimize reserves, reduce leakage and ensure efficient processing. This transparency will allow ICW Group to achieve lower operational and claims costs and retain the flexibility to meet changing business needs. Customers will have access to easier methods for processing their claims and quicker response times and payments, allowing ICW Group to provide the right service to the right customer at the right time. The SAP Insurance Collections and Disbursements application will help ICW Group to consolidate systems and manage payments, billing and receivables, improving the reconciliation process while enhancing customer service. In addition, the company will utilize the SAP ERP Financials solution, from SAP's flagship enterprise resource planning (ERP) application, SAP ERP. Through increased information transparency and standardized processes that aid efficiency and enhance decision-making processes, the SAP ERP Financials solution will help ICW to better prepare and respond to the changing insurance industry.

"The insurance industry is changing and insurers are realizing that quick fixes with point solution providers are not the answer they need if they have serious growth aspirations," said Bill McDermott, president and CEO, SAP Americas and Asia Pacific Japan. "ICW Group is an innovative insurer that has realized the importance of an integrated platform to bring operational efficiencies, and SAP is excited to add ICW to our family of insurers."

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SAP News Desk trawls the world's news information sources and brings you timely updates on the world's leading provider of enterprise resource planning (ERP) and its various software product lines used to integrate back-office functions such as distribution, accounting, human resources, and manufacturing.

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