June 25, 2014

New York Life has selected SAP Insurance Analyzer analytic applications to power an enterprise-wide financial transformation strategy that it hopes will enhance its overall business strategy.

The insurer plans to merge its middle- and back-office functions into one integrated platform so it can better facilitate vital strategic business direction, including mergers and acquisitions, financing and capital market long-term strategies that support performance.

"The insurance industry is evolving faster than ever before," said Randy Gonzalez, vice president and head of Finance Transformation, New York Life, in a statement. "In order to keep pace we must leverage technology that enables us to shift our mindset to effectively operate in the future state, break out of silos and make strategic decisions that can support the business."

SAP partner MSG Global will help develop and implement the software, which is powered by the SAP HANA in-memory computing platform.

[Nan Shan Selects SAP]

ABOUT THE AUTHOR
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, ...