16/10/2014
msg.PM enabled for SAP HANA®: product management solution for insurance companies integrates in-memory technology
Munich, October 16, 2014. IT service provider and industry specialist, msg, has expanded its established msg.PM product management system, now offering it based on SAP HANA® technology as well. This makes msg.PM enabled for HANA the first product management solution for insurers that is based on the in-memory technology of SAP HANA® and uses their platform technology.
The flexible product management system msg.PM on which the new solution is based is a comprehensive and high-performance software that efficiently supports insurance companies by mapping the entire product cycle - from drafting to testing, not to mention operational use - and enables the management of all product-relevant data. In addition, all of the insurance mathematics, including rules, calculations and technical or business changes, can be processed in msg.PM. msg.PM is used by more than 40 customers around the world.
The integration of SAP HANA® offers users numerous advantages: in contrast to traditional solutions, only one database is required, which reduces the overall operating costs. Furthermore, the new system enables faster access to required data, allowing insurance companies to significantly enhance their efficiency. Possible areas of use for the new solution include comprehensive and complex systems, such as complex product structures and rating in life or auto insurance. This cross-line of business system can be used by any type of insurance company.
The new technology supported by msg.PM through the integration of the SAP HANA® platform is now available for purchase. Customers who already use msg.PM and would like to work with SAP HANA® in the future can easily switch to the new solution, since the system is seamlessly integrated, enabling direct access.
"With this new feature we are able to present an innovative solution, not previously available on the market, one that can significantly accelerate and optimize all processes used in the insurance industry," explains Frank Plechinger, member of the Board of Directors at msg systems ag. "Not only does it emphasize our competence and innovativeness as a strategic SAP partner, but also as an industry specialist and solution provider for the insurance industry, especially given the digital transformation insurance companies are currently undergoing."
