Transform the Insurance Sector with SAP IS Insurance – Unlock Your Future in a Thriving Industry!

Course Overview: The SAP IS Insurance course is designed for professionals looking to specialize in
SAP solutions tailored to the insurance industry. The insurance sector is highly complex, requiring
robust systems to manage policies, claims, underwriting, regulatory compliance, and customer
relationships. This course will provide you with a comprehensive understanding of SAP’s industry-
specific solutions that address the unique challenges faced by insurance companies, from managing
customer data to optimizing claims processing and policy administration.

In today’s rapidly changing insurance market, digital transformation is key to staying competitive.
SAP IS Insurance offers integrated solutions to streamline core insurance processes, enhance
customer service, and improve overall operational efficiency. Whether you’re working in life
insurance, health insurance, or property & casualty insurance, this course will help you leverage
SAP’s powerful tools to drive innovation and growth in the industry.

What Will You Learn: This course will provide you with the knowledge and practical skills needed to
implement and configure SAP IS Insurance solutions. You'll learn to manage insurance products,
policies, and claims efficiently while ensuring compliance with regulatory requirements. Additionally,
you’ll explore how SAP IS Insurance integrates with other SAP modules like SAP S/4HANA, SAP CRM,
and SAP Fiori to provide end-to-end solutions that deliver business value.
By the end of the course, you'll be able to optimize core insurance functions, improve the customer
experience, and enhance operational agility in the insurance sector.

Key Areas of Focus Include:
 Introduction to SAP IS Insurance and its components
 Policy management and policy administration
 Underwriting and risk management in insurance
 Claims processing and management
 Customer relationship management (CRM) in the insurance industry
 Product configuration for insurance products
 Financial management in insurance
 Regulatory compliance and reporting in the insurance sector
 Integration of SAP IS Insurance with SAP S/4HANA and other SAP modules
 Digital transformation in insurance: SAP Fiori and cloud solutions
 Customer service and claims automation

Salary Prospects in India: The demand for SAP IS Insurance professionals is growing rapidly in India
as the insurance industry moves toward digitalization and improved customer engagement. Entry-
level SAP IS Insurance consultants can expect to earn ₹6,00,000 to ₹10,00,000 annually. Mid-level
consultants with expertise in policy management, underwriting, and claims can earn between
₹10,00,000 and ₹15,00,000 per year. Senior consultants, project managers, and industry experts in
SAP IS Insurance can earn ₹18,00,000 or more annually. The industry’s increasing focus on digital
solutions ensures strong career prospects for skilled professionals in this field.

Placement Assistance and Certification: At ENCODE-IT, we offer placement assistance to help you
land a role in top insurance companies, SAP consulting firms, or technology providers. Our
placement team will guide you through job search strategies, resume building, and interview
preparation. Upon successful completion of the course, you will receive an industry-recognized
certification in SAP IS Insurance, showcasing your expertise and helping you advance in your career.

Course Curriculum: The SAP IS Insurance course is designed to provide a balanced mix of theoretical
knowledge and practical experience, helping you understand and apply SAP IS Insurance solutions.
Below is the course curriculum:

1. Introduction to SAP IS Insurance:
o Overview of SAP IS Insurance and its architecture
o Key business processes in the insurance industry
o SAP modules related to insurance: SAP Policy Management, SAP Claims
Management, SAP Billing, SAP Fiori
o Integration with other SAP solutions (SAP S/4HANA, SAP CRM, SAP FICO)

2. Policy Management and Administration:
o Managing insurance policies from creation to renewal
o Configuring SAP for policy lifecycle management
o Handling different types of policies (life, health, property, casualty)
o Setting up policy clauses, coverage options, and terms
o Policy endorsements and amendments

3. Underwriting and Risk Management:
o Implementing SAP for underwriting processes
o Risk analysis and pricing of insurance products
o Configuring underwriting rules and guidelines
o Managing risk exposure and reinsurance with SAP
o Integrating external risk data (actuarial models, risk databases)

4. Claims Management:
o Processing claims in SAP IS Insurance: Registration, assessment, settlement
o Automating the claims lifecycle: Claims intake, approval, and payout
o Managing claims workflows, documents, and communication
o Configuring claims settlements and payments
o Handling fraud detection and claim audits

5. Customer Relationship Management (CRM) in Insurance:

o Managing customer data and interactions using SAP CRM
o Creating and maintaining customer profiles and preferences
o Automating customer communication, notifications, and service requests
o Cross-selling and up-selling insurance products to customers
o Customer service automation and self-service portals

6. Billing and Invoicing in Insurance:
o Setting up billing systems for insurance premiums and commissions
o Managing invoices, premium collections, and payment schedules
o Automating payment reminders, collections, and receipts
o Handling payment failures, refunds, and adjustments
o Integration with financial accounting for seamless billing

7. Financial Management in Insurance:
o Managing financial transactions, reporting, and accounting for insurance companies
o Configuring SAP for premium revenue recognition and claims reserves
o Managing investments, underwriting costs, and profitability analysis
o Implementing SAP for regulatory financial reporting and audit compliance

8. Regulatory Compliance and Reporting:
o Ensuring compliance with insurance regulations (Solvency II, IFRS 17, etc.)
o Configuring SAP for regulatory reporting and audits
o Handling industry-specific compliance requirements in the insurance sector
o Reporting to regulators, auditors, and stakeholders
o Taxation and actuarial reporting in insurance

9. Digital Transformation and Customer Service:
o Using SAP Fiori and SAP Cloud solutions to enhance the customer experience
o Automating claims and policy processes with SAP’s digital capabilities
o Implementing mobile solutions for customer service and claims processing
o Integrating AI and chatbots for claims automation and customer support
o Implementing self-service portals and digital claims management systems

10. Hands-On Projects:
o Configuring and managing an insurance policy lifecycle in SAP IS Insurance
o Implementing claims processing workflows from claim intake to settlement

o Managing customer service and communication using SAP CRM
o Final project: Designing an end-to-end SAP IS Insurance solution for an insurance
company, incorporating policy management, claims, and financial reporting

Key Features:
 Tools & Platforms: SAP IS Insurance, SAP S/4HANA, SAP CRM, SAP Billing, SAP Fiori, SAP
Cloud
 Real-World Applications: Policy management, claims processing, risk management, and
customer service in the insurance industry
 Interactive Assessments: Quizzes, case studies, lab exercises, and real-world scenarios
 Capstone Project: Design and implement a comprehensive SAP IS Insurance solution for an
insurance company

By completing the SAP IS Insurance course at ENCODE-IT, you will gain the skills necessary to
optimize insurance processes, improve customer experiences, and ensure regulatory compliance
using SAP's powerful solutions. This certification will open doors to exciting opportunities in the
dynamic and fast-evolving insurance industry. Enroll now to elevate your career and become an
expert in SAP IS Insurance!