The rise of the digitally native generation, in addition to the emergence of fintech, has seen the Japanese insurance industry undergo a transformation. Adapting to the evolving times, Fujitsu, the digital transformation company, has partnered with SAP Fioneer, the financial services software provider.
Customer expectations are becoming more demanding, not just in Japan, but the whole world. To ensure that they are positioned for sustainable success, insurers need to address critical challenges hindering the ability to cater to customer demands. They must accelerate digital transformation to enhance compliance and operational efficiency. In doing so, they will be able to tackle challenges like outdated and opaque legacy systems and a shortage of skilled IT professionals.
Under the new collaboration, Fujitsu and SAP Fioneer will collaborate on product planning, development, and marketing. This also includes the development of the Japan Edition of SAP Fioneer Cloud for Insurance, an end-to-end cloud-based platform that packages core insurance services and combines localised business content with global industry best practices.
Masaru Yagi, corporate executive officer, EVP, vice head of global customer success, Fujitsu Limited comments: “We are excited to start a partnership with SAP Fioneer. The collaboration marks a pivotal moment in our efforts to drive digital transformation (DX) for our financial customers.
“By merging SAP Fioneer’s cutting-edge financial services solutions with Fujitsu’s unparalleled expertise and quality in system development for the financial sector, we are poised to deliver groundbreaking and efficient solutions like never before. Through this partnership, we will closely collaborate with SAP Fioneer from product planning to development and marketing, and advance DX in the financial industry.”
The Japan Edition of SAP Fioneer Cloud for Insurance
With the Japan Edition of SAP Fioneer Cloud for Insurance that Fujitsu plans to provide, customers will be able to standardise core insurance operations and systems. This includes:
product management
quotation and underwriting management
policy management
claim management
They will also gain a competitive advantage by strategically allocating resources, such as personnel and investments, to high-value-added areas like new product development and sales channel expansion. All the while, they can ensure robust IT capabilities and continuous quality improvements.
Chirag Shah, managing director insurance, SAP Fioneer
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.
Chirag Shah, managing director of insurance, SAP Fioneer comments: “Japan’s insurance market requires solutions that address its unique local regulatory and functional requirements. Consequently, we are partnering with Fujitsu to develop the Japan Edition of SAP Fioneer Cloud for Insurance, our core insurance platform, which combines localised business content with global industry best practices. This will address the industry’s demand for an adaptable packaged software suited to the Japanese insurance sector.”
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