The “ Race to RISE” Continues via AIG……. NEXT
Strategic Insurance Cloud-Based Finance Transformation
Published in 2024/25
Client Synopsis
What did they do?
Why did they do it?
To support their newly realized “AIG 200” strategy becoming a pure P&C focused provider through Global divestitures (inc. Corebridge Life and Retirement), AIG were looking to SAP to continue our partnered AIG 200 success and move AIG further towards Global Operational Excellence. Via “AIG Next” Program for General Insurance with focus on Underwriting & Global Operational Excellence transform, SAP recommended an S/4HANA 3-4 year Strategic Roadmap with RISE as underlying platform for innovation, stability, performance and high security. This will set the foundation of innovation on AIG S4 Global GL Finance journey. RISE will provide the SAP Strategic benefits which will set the stage for future proofed innovations on S4 journey inc Automation, Gen. AI, Machine Learning.
• Building on AIG 200, via Peter Zaffino’s AIG Next, SAP recommended an S/4HANA 3 year Strategic Roadmap with RISE as underlying platform for; innovation, stability, performance and high security, which will set the foundation for AIG’s S4 Global GL Finance journey. • SAP recommend RISE towards the Global ‘Operational Excellence’ vertical of AIG Next. 94M TCV . Largest Deal in SAP FS History. Components of Deal- • SAP RISE ERP, private edition, tailored option with all existing finance, security, business intelligence, database and technology solution; ECC GL, S4 FPSL’s, S4 FSCD, S4 Reinsurance, S4 MDG, BW/Global Analytics footprint, SAP Platform. Fioneer PCE Products include: RISE S/4 FPSL & ERP FSCD Public Cloud: SAC, SAC-P, CPEA: DataSphere, BTP Build, Integrations . CAS & Migration Services
• AIG is a Global financial services leader with a vast network spanning over 190 countries, offering diverse insurance solutions, products and managing a substantial asset portfolio valued at over $500 billion. • Operations in over 190 countries and jurisdictions. SAP customer since 1999 • Revenue USD 46.8bn (2023)
How SAP solved a problem for the customer?
3 things that helped drive the strategy
Industry
• Deliver, Deliver, Deliver. World Class Continued Delivery – Outshining AIG’s current AMS, TMS, SI Partners. Turned SAP into true Trusted Advisor with seat on ARB, SRB, Strategy Board levels. • Bottom Up – Top Down approach to RISE Motion "Shid gim sharee!" -> Show them Green Paradise • Aligned the SAP RISE Strategy towards AIG Next Transformation Objectives -> April 2023 Key Exec meeting on AIG 200 Go-Live->CRBG Motion • The Race to RISE – Foundational Strategic Buy in / Approvals throughout Corebridge RISE motion -> Executive Relationships Reset/Established, RISE Procurement/Legal foundation, Org RISE Awareness
• AIG 200 success and partnership, laid the foundation for next wave of Strategic relationship with SAP – Vision #1 Global Reference Insurer on RISE. • AIG 200 success:- Consolidated 150+ non-SAP systems into single Global SAP Subledger (FPSL) and Ledger while also completing the divestitures of all non-P&C business, reduce Global Financial Close activities from 65 days to just 12, all while significantly simplifying their Global Operations and Operational costs with a pure focus on Property & Casualty (P&C) LOB.
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Finance and Insurance
Region
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NA
MP Name
• Built and Delivered AIG’s S4HANA Strategy inc. CRBG and AIG 200 Subledgers
• SAP Continue to Deliver World Class Excellence which laid platform for more Strategic Relationship & Responsibility with RISE.
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Jonathan Keogh
The team involved: ( roles / names) • Johnny Keogh (MP); Michael Grassi (Global AE), Shawn Magill(ECSM), Brooks Godwin (SAE)
Links to relevant documents • AIG ROADMAP_2024_FINAL.pptx
Reference: Y/N Customer are blocked for references from AIG Board level across all partners. With new C-Suite Leadership we are looking to reevaluating.
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INTERNAL – SAP and Customers Only
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