June 03, 2013

This year's acquisition by SAP of Camilion, an insurance product development engine with ISO automation capabilities, is already paying dividends.

The company announced at IASA 2013 a new cloud-based system for tracking and identifying ISO circulars that expands on Camilion's former Circular Authority product, now called SAP Circular Authority.

SAP insurance industry leader Bob Cummings tells I&T why the Camilion acquisition is crucial to the company's U.S. insurance strategy

SAP Circular Authority features:

  • The ability to follow the progression of change in ISO circulars

  • Streamlined and standarded processes for analyzing and adopting ISO changes

  • Improved speed to market for new and refreshed insurance products

  • Improved regulatory compliance by staying updated on ISO rates, rules and forms

  • Enhanced price precision leveraging the ISO loss costs

"SAP Circular Authority for Insurance is powered by the groundbreaking combination of ISO Electronic Rating Content, forms, circular tracking and SAP Product Lifecycle Management," said Ross Orrett, president and CEO of Camilion Solutions, an SAP company, in a statement. "It will offer an intuitive, business-focused solution for finding, tracking and understanding the impact of these trends and regulations, recording company adoption decisions and producing business specifications."

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, ...