SAP Tech News for July 2019 - Safe O'Clock

SAP Tech News for July 2019

August 7, 2019

SAP and Discovery Health are developing health insurance solution

SAP and Discovery Health, a medical insurance administrator from South Africa, are collaborating to develop a versatile health insurance solution. 

As the healthcare industry goes over the phase of dynamic digitalization, health insurers don’t stay on the sidelines and upgrade their systems making use of digital and analytics platforms. This includes the implementation of new ways to reduce costs and development of innovative products in order to enhance user experience. The collaboration of SAP and Discovery Health is aiming to develop a solution for these purposes.

“Through this new platform, we see significant opportunity for widespread adoption of our shared value model: insurer costs can be reduced while innovation thrives, providing policy holders with a more personalized healthcare journey and better healthcare outcomes. Ultimately, society can benefit from an improved healthcare system and healthier communities.”

Discovery Health CEO Dr. Jonathan Broomberg

SAP creates unique experience across the insurance and financial sectors

SAP SE has recently announced its common project with Swiss Re.  The insurance giant provides software that not only performs accounting but also includes simulation, forecasting and planning options for the support of the business in financial analysis.

SAP and Swiss Re started their collaboration journey in 2017 aiming to create a unique multi-GAAP solution. It was supposed to manage complex financial steering and reporting requirements. These included IFRS 17 and 9 compliance affecting insurance companies worldwide. Swiss Re currently provides reinsurance, insurance, and other insurance-based risk transfer solutions.

“Bringing key functionality into the system, along with the addition of forecasting, planning and simulation, brings greater financial steering capabilities. The thought leadership on multivaluation and IFRS we have applied as part of the co-innovation has been well received throughout the industry.”

Swiss Re Reinsurance CFO Gerhard Lohmann

According to  Luka Mucic, SAP CFO and member of the Executive Board of SAP SE, such a close partnership with Swiss Re has helped the organization create a tailor-made customer experience across the insurance and financial sectors.  

Strengthening partnership with UI5 Web Components

SAP SE is busy strengthening its partnership with the developer and open source community with the contribution of UI5 Web Components. I5 Web Components is a comprehensive library for Web developers, which eases the process of development of enterprise-grade Web applications. This was announced at the OSCON conference that took place on July 15–18 in Portland, Oregon.

The new UI5 Web Components from SAP help developers benefit from the features provided by OpenUI5 during the exploitation of frameworks such as React, Angular or Vue.js. Web Components are a compilation of both easy-to-use and lightweight user interface elements. These are providing the options that are not easily provided by the standard HTML. Web Components work in the majority of browsers and can be applied to add advanced functionality to static Web pages or dynamic Web applications.

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