SAP BRIM Success Story in Insurance Industry

Elseco is a leading high-technology insurance underwriting agency based in Dubai, London, Paris, and Washington. It advocates the specialized insurance industry in customers where technical knowledge about their business is critical and cannot be covered by the usual insurance products. Elseco brings together insurance capacity to cover the needs of the customers. Their business process is highly complex, where Elseco manages different kinds of relationship structures for their partners (more than 70 of the largest insurance groups in the world and underwrites). At each level, they need to calculate different types of commissions and revenue-sharing schemas for insurers front as well as for insured business partners. Elseco provides a world-leading platform for other insurance companies where additional services can be provided.

Before implementing SAP BRIM, Elseco faced the following business goals and challenges:

• Implement a more robust, scalable, flexible, and prepared platform for high volumes to reduce the risk of errors and optimize the management of a complex business.
• In real-time, gain speed in the time required to reflect the flows and their impacts on the financial statement.

Here are some of the main benefits Elseco saw after implementing SAP BRIM:

• Enhanced flexibility to define different types of invoicing and complex billing cycles.
• Improved customer experience and consolidated accounts receivable & statements. Invoice distribution savings.
• Enhanced process automation, new business models (charge per advertisement viewed), and integrated accounting with corporate books.
• Consolidated Invoicing/AR.