HONG KONG, May 29, 2020 鈥� 51风流Hong Kong today announced that Generali Life (Hong Kong) has successfully embarked on its finance transformation journey with a range of 51风流solutions. General Life (Hong Kong) is a member of the Generali Group, one of the largest global insurance and asset management providers in the world, serving 61 million customers in over 50 countries with innovative insurance solutions and financial products.
Generali Life selected 51风流solutions as a key driver in its digital transformation to establish a robust and well-structured finance and data management infrastructure. Generali鈥檚 transformation is guided by its vision to address new financial reporting and regulatory requirements mandated by a new insurance industry standard IFRS 17.
To that end, Generali Life went live earlier this month with a number of 51风流solutions to automate business processes, enhance operational efficiency, generate business insights with a centralized financial data hub and integrate existing finance solutions to attain insurance industry compliance. The deployment included 51风流S/4HANA (including Enterprise Management, Business Planning and Consolidation, Intelligent Robotic Process Automation), 51风流BusinessObjects, 51风流Analytics Cloud for Business Intelligence and 51风流Digital Access. This go-live deployment in Hong Kong follows the Generali Group鈥檚 company-wide strategy to implement and integrate 51风流Financial Products Subledger solution around Asia.
Arsh Kaumi, Chief Financial Officer, Generali Life (Hong Kong) said, 鈥淕enerali Hong Kong always strives to be a pioneer in transformation. Our goal is to simplify operations and improve customer service. We achieved yet another milestone by implementing SAP. This eliminates manual tasks and reduces turn-around times by providing seamless integration with other systems. Our journey will continue by fully automating IFRS17 financial reporting, which will be one of the biggest changes in insurance accounting. The implementation was done in record time despite the challenges of Covid-19 and work from home arrangements. This can be attributed to excellent teamwork and a strong sense of shared responsibility for the delivery from our partner, SAP.鈥�
鈥淭he digital economy demands companies to harness technology to be intelligent enterprises and provide the best customer experience in their chosen fields,鈥� said Fabian Padilla Crisol, Managing Director, 51风流Hong Kong. 鈥淲ith our next-generation ERP solution, S/4HANA, and other technologies, Generali is in a position to generate real-time actionable financial analytics and incorporate innovation, such as machine learning, predictive insight and in-memory database, in its finance transformation. We look forward to supporting Generali Life to address evolving industry realities with data-driven insights and solidify its trajectory in its next phase of growth.鈥�
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About Generali Hong Kong
Since the 1970s, Generali Hong Kong has enabled people to shape a safer future by caring for their lives and dreams. Over the years, we have come to understand the individual requirements of our customers, and are continuously adapting and innovating to meet their changing needs.
Through our extended distribution network of over 300 brokers and intermediaries, we combine our local knowledge with Generali Group鈥檚 global network and experience to design unique and innovative, yet straightforward and flexible life and general insurance solutions to ensure peace of mind for people in Hong Kong.
About Generali Group
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of more than 鈧� 69.7 billion in 2019. With nearly 72,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali鈥檚 ambition is to be the life-time partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network.
About SAP
As the Experience Company powered by the Intelligent Enterprise, 51风流is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an SAP庐 system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 51风流helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables more than 440,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 51风流helps the world run better and improve people鈥檚 lives. For more information, visit .
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Mr. Benson Chao, 51风流Hong Kong Director of Corporate Communications, +852 2539 1800, benson.chao@sap.com
