"Rosgosstrakh Life" completed an implementation project of a financial system based on SAP S/4HANA

2020: Completion of implementation of a financial system based on SAP S/4HANA

On May 14, 2020 SAP CIS reported that insurance the company "Rosgosstrakh Life" completed financial a system implementation project based on SAP S/4HANA. This solution will allow to optimize maintaining operational, managerial and accounting. Acted as the partner in implementation "Strimlayn consulting".

The project became the last stage on integration of company "ERGO Zhizn" into the Rosgosstrakh Group. Based on SAP S/4HANA accounting of non-current assets and foreign currency transactions, bank payments and expense allocation was implemented. In the systems of the customer based on SAP products end-to-end business processes are implemented: from signing of the contract of insurance before obtaining the reporting in front of the regulator. It will help "Rosgosstrakh Life" to provide high efficiency of work of all divisions of the company. A system is integrated with the existing IT landscape.

In addition to the financial accounting system in SK "Rosgosstrakh Life" based on SAP solutions the XBRL reporting according to taxonomy of the Central Bank of the Russian Federation is implemented and also the complete solution on life insurance contract management is operated.

SAP solutions provided to SK "Rosgosstrakh Life" technical capability for doubling of business in 2020 and start of the innovation products in the life insurance market. For May, 2020 we consider also other systems for possible implementation, noted Valery Smirnov, the chief financial officer of SK "Rosgosstrakh Life".

In the companies of life insurance with specialization on accumulative and investment insurance the speed of receiving and data processing of clients has paramount value. In SK "Rosgosstrakh Life" on the basis of the integrated SAP platform seamless process of receiving, processing and information visualization is adjusted. It allows to exercise flexible management of data and to provide them in external applications for informing clients and the analysis in different cuts, commented Andrey Goryaynov, the deputy CEO of SAP CIS.