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SAP

SAP Insurance Financial Systems

Composite Score

8.2 /10

CX Score

8.4 /10

8 Reviews Write a Review

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What is SAP Insurance Financial Systems?

Satisfy today’s hyper-connected customers across all channels, including mobile – with SAP software for the insurance industry. Our solutions use the latest technology to help you streamline claims management, simplify policy administration, and proactively manage risk and compliance.

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SAP Insurance Financial Systems Ratings

Real user data aggregated to summarize the product performance and customer experience.

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

95 Likeliness to Recommend

100 Plan to Renew

91 Satisfaction of Cost Relative to Value

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Emotional Footprint Overview

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

+100 Net Emotional Footprint

The emotional sentiment held by end users of the software based on their experience with the vendor. Responses are captured on an eight-point scale.

How much do users love SAP Insurance Financial Systems?

0% Negative

0% Neutral

100% Positive

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Feature Ratings

Average 89

Document Management

Risk and Fraud Assessment

Billing and Invoice Management

Performance Management

Audit Management

Compliance Management

Accounting and Financial Management

Analytics and Reporting

Invoice Management

Workflow Management

Cash Flow Management

Vendor Capability Ratings

Average 88

Quality of Features

Ease of Customization

Breadth of Features

Vendor Support

Ease of Implementation

Product Strategy and Rate of Improvement

Ease of IT Administration

Availability and Quality of Training

Business Value Created

Usability and Intuitiveness

Ease of Data Integration

SAP Insurance Financial Systems Reviews

Mary O.

Role: Student Academic
Industry: Food and Beverage
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Sep 2025

Powerful for Compliance and Finance.

Likeliness to Recommend

9 /10

What differentiates SAP Insurance Financial Systems from other similar products?

Purpose-built for complex regulatory requirements

What is your favorite aspect of this product?

The whole system stand out because it bridges the classic gap between actuarial, finance, and regulatory reporting — something other insurance solutions often need extra tools or workarounds for.

What do you dislike most about this product?

What I would like SAP Insurance Financial Systems to improve on would be the complexity of implementation and customization. Here is why SAP Insurance modules (like FS-CD, FS-RI, FPSL) are highly specialized, and they require consultants who know both insurance processes and SAP’s financial structures. That makes onboarding harder compared to more “plug-and-play” competitors.

What recommendations would you give to someone considering this product?

If someone is considering SAP Insurance Financial Systems, here are my recommendation. Be Clear on Your Priorities; This product shines if your top priorities are regulatory compliance, integration with finance, and scalability. If your needs are lighter or more front-office focused (policy/claims user experience), there may be simpler options. Invest in the Right Expertise Early; Bring in consultants or internal staff who understand both insurance operations and SAP financials. The learning curve is steep, but the right team makes all the difference.

Pros

Helps Innovate
Continually Improving Product
Performance Enhancing
Trustworthy

Loveth N.

Role: Finance
Industry: Banking
Involvement: Vendor Management and Renewal

Validated Review

Verified Reviewer

Submitted Mar 2025

Perfect tool for finance

Likeliness to Recommend

10 /10

What differentiates SAP Insurance Financial Systems from other similar products?

Unique features and user friendly

What is your favorite aspect of this product?

Customer support

What do you dislike most about this product?

Billing and exchange

What recommendations would you give to someone considering this product?

Highly recommend

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Reed C.

Role: Operations
Industry: Other
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Jan 2025

Comprehensive Insurance Management Suite.

Likeliness to Recommend

10 /10

What differentiates SAP Insurance Financial Systems from other similar products?

The SAP Insurance financial systems are unique in that they are fully integrated. The platform integrates with multiple SAP and non-SAP systems, such as policy administration, claims management, and financial accounting, to provide a holistic view of insurance operations.

What is your favorite aspect of this product?

One feature that really impressed me is artificial intelligence automation. SAP insurance products use AI in various areas, ranging from underwriting to claims. This entails functions such as automated risk analysis and fraud detection, thereby enhancing the operational efficiency and accuracy of decisions.

What do you dislike most about this product?

One of the most challenging features of SAP Insurance finance solutions is that it is extremely hard to implement and customize. Its broad functionality is enticing, but the learning curve and sometimes implementation times can be quite time-consuming, particularly for businesses migrating from a more straightforward system.

What recommendations would you give to someone considering this product?

Companies considering SAP Insurance Financial Systems will want to check the compatibility of the platform with your existing infrastructure. SAP is particularly good at linking insurance operations to different departments, and therefore, it is ideal for organizations looking for an integrated financial and operational system.

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

SAP Insurance Financial Systems

What is SAP Insurance Financial Systems?

Company Details

Book a Free Demo Today!

SAP Insurance Financial Systems Ratings

95 Likeliness to Recommend

100 Plan to Renew

91 Satisfaction of Cost Relative to Value

Emotional Footprint Overview

+100 Net Emotional Footprint

How much do users love SAP Insurance Financial Systems?

Pros

Feature Ratings Average rating of all product features, some of which may not be shown below

Document Management Includes features such as check-in/check-out and versioning controls on documents and artifacts.

Risk and Fraud Assessment Includes the ability to document, mitigate, and respond to project risk conditions across the portfolio and detect instances of potential fraudulent claims.

Billing and Invoice Management Includes automated time capture, online bill submission, invoicing, and e-billing.

Performance Management Includes all aspects of performance appraisals and review design: rollout, conducting, tracking, measurement, and goal attainment.

Audit Management Includes data security, audit reports, and revision control.

Compliance Management Includes compliance controls, compliance rules engine, and compliance monitoring.

Accounting and Financial Management Includes accounting and finance functions such as general ledger, accounts payable, and accounts receivable.

Analytics and Reporting Includes historical & real-time dashboard visualizations, detailed & summary reporting and easy data extraction for data analysis.

Invoice Management Includes invoice creation, invoice capturing, invoice approval, and invoice payments.

Workflow Management Includes ability to support flexible and comprehensive workflow-based capabilities.

Cash Flow Management Includes income and expense tracking, as well as cash flow monitoring.

Vendor Capability Ratings Average rating of all vendor capabilities, some of which may not be shown below

Quality of Features Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Ease of Customization Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Breadth of Features Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

Vendor Support The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Ease of Implementation Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Product Strategy and Rate of Improvement Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.

Ease of IT Administration This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Availability and Quality of Training Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Business Value Created Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

Usability and Intuitiveness End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Ease of Data Integration Use this data to determine whether the product will cause headaches or make data integration easy.

SAP Insurance Financial Systems Reviews

Mary O.

Powerful for Compliance and Finance.

Likeliness to Recommend

Pros

Loveth N.

Perfect tool for finance

Likeliness to Recommend

Pros

Reed C.

Comprehensive Insurance Management Suite.

Likeliness to Recommend

Pros

Feature Ratings

Document Management

Risk and Fraud Assessment

Billing and Invoice Management

Performance Management

Audit Management

Compliance Management

Accounting and Financial Management

Analytics and Reporting

Invoice Management

Workflow Management

Cash Flow Management

Vendor Capability Ratings

Quality of Features

Ease of Customization

Breadth of Features

Vendor Support

Ease of Implementation

Product Strategy and Rate of Improvement

Ease of IT Administration

Availability and Quality of Training

Business Value Created

Usability and Intuitiveness

Ease of Data Integration