As part of its overall business transformation roadmap, Malaysia-based investment holding company Tune Protect Group Berhad has adopted SAP Insurance system on S/4HANA to optimise operations and drive business growth in the Middle East and Southeast Asia (SEA).
Founded in 2011, Tune Protect Group provides a variety of specialised non-life insurance coverage options that are tailored to the demands of customers today. The company has built its global footprint in over 60 countries through its general insurance and reinsurance subsidiaries in Malaysia, as well as an associate business in Thailand and a joint venture in the United Arab Emirates.
During last year’s virtual launch of Home Easy and Home Shield — a house owner and householder insurance — Tune Protect Malaysia Chief Executive Officer William Foo stated that the 5.8 million residential properties in the country represent a large portion of the existing market and potential for its products. In response to this optimistic view of the business, Foo referred to the EY 2020 Asia-Pacific Insurance Outlook study, which noted that 94{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} of millennials in Malaysia plan to buy a house within the next five years. He said that this reflects a significant opportunity for Tune Protect Malaysia to grow its customer base.
Aiming to expand revenue through affinity and digital partnerships, Tune Protect Group CEO Rohit Chandrasekharan Nambiar shared that the Group currently focuses on three key corporate pillars: health, lifestyle, and small and medium-sized enterprises (SMEs). In order to achieve maximum productivity and cost savings, Nambiar said that technology is a critical enabler to realise automation that would expedite their operational processes.
With the help of Serole Technologies, an SAP preferred partner in the insurance space, Tune Protect Group implemented SAP S/4HANA Insurance system to provide a platform that will help accommodate client demands. The project is aimed at minimising downtime and delivering faster turnaround time through the following solutions:
- SAP Single Sign-On to centralise and simplify the way users log on to applications and systems.
- SAP Access Control to help streamline the management and validation of user access to on-prem apps and data.
- SAP Process Orchestration, a tool for service-oriented processes integration.
- SAP Analytics Cloud which combines business intelligence (BI), augmented and predictive analytics, and planning capabilities into a unified platform in the cloud.
- and SAP Application Studio.
Tune Protect Drives Business Growth with SAP Insurance on S/4HANA
According to Prasanta Roy, Chief Technology Officer at Tune Protect Group, all parties agreed to deliver the project remotely and that they considered the aspect of risk mitigation due to travel constraints imposed by the COVID-19 pandemic. He further explained:
“During the selection process, SAP, and their System Integrator partner, Serole, demonstrated the commitment which is in line with our vision, timelines, as well as the knowledge and experience that they have had with other insurers sharing similar business model as ours.”
Tune Protect Group plans to integrate an end-to-end ERP system with built-in technologies such as artificial intelligence (AI), machine learning (ML), and advanced analytics in order to benefit from its data. According to the company, the centralised and comprehensive insurance core system is also intended to support all of Tune Protect Group’s businesses, including its 17 offices across Malaysia, which employ more than 300 people.
“With this new SAP system in place, our goal is to have an integrated centralised platform that helps us attain better cohesion on products, sales, operations, financials and reporting,” CEO Nambiar added.
Meanwhile, SAP Malaysia Managing Director Kok Cheong Hong, who has consistently emphasised the need for digitalisation and cloud adoption, believes Tune Protect Group is already an ‘intelligent enterprise’ with a solid foundation to reimagine the business, as well as create new market and revenue means. Following its implementation of SAP S/4HANA Insurance system, Hong added that the company will be able to maximise the value of its data assets, converting them into meaningful insights that will help its workforce operate more efficiently.
“SAP is humbled to be part of Tune Protect’s ambitious digital transformation program and heartened that the Group continues to ‘innovate with purpose’,” Hong expressed.
