Kawasaki, Japan and Walldorf, German, Nov 18, 2024 – (JCN Newswire) – – Fujitsu and SAP Fioneer have signed a partnership master agreement to accelerate the digital transformation of Japan’s insurance industry. Under the agreement, Fujitsu and SAP Fioneer will collaborate on product planning, development, and marketing, including the development of the Japan Edition of SAP Fioneer Cloud for Insurance (1), an end-to-end cloud-based platform that packages core insurance services and combines localized business content with global industry best practice.
The insurance industry is undergoing a profound transformation driven by technological advancements, including the rise of the digital native generation and the emergence of FinTech companies, but also societal challenges including declining birth rates and an aging population. These dynamics are not only reshaping customer expectations but also intensifying the competitive landscape – both on a global scale and in Japan. To ensure that they are positioned for sustainable success in a rapidly evolving market, insurers need to address critical challenges such as outdated and opaque legacy systems and a shortage of skilled IT professionals, and accelerate digital transformation to enhance compliance and operational efficiency.
With the Japan Edition of SAP Fioneer Cloud for Insurance that Fujitsu plans to provide, customers will be able to quickly standardize core insurance operations and systems such as product management, quotation and underwriting management, policy management and claim management. They will also gain a competitive advantage by strategically allocating resources, such as personnel and investments, to high value-added areas such as new product development and sales channel expansion, while ensuring robust IT capabilities and continuous quality improvements.
In addition, by developing this edition as the de facto standard for business collaboration in the insurance industry in Japan, Fujitsu and SAP Fioneer aim to drive innovation in products, channels and processes, as well as strengthen governance across the sector.
Based on this partnership agreement, Fujitsu will conduct proof-of-concept projects with customers to validate the feasibility of the Japan Edition of SAP Fioneer Cloud for Insurance and aims to start offering the service by the end of March 2026.
Masaru Yagi, Corporate Executive Officer, EVP, Vice Head of Global Customer Success, Fujitsu Limited, comments:
“We are excited…
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