Serole’s knowledge of the global insurance market, coupled with Discovery Health’s expertise of the healthcare insurance market, will drive exceptional outcomes for customers.
Serole Technologies is a global systems integrator focusing on the insurance domain. With a niche focus on the SAP for Insurance platform, Serole has successfully delivered mission-critical solutions to the insurance industry across Australia, India, Singapore, Dubai, Saudi Arabia, Taiwan and Hong Kong.
Discovery Health, a leading South African medical scheme that is globally renowned for its innovation, initiated the Renewal of Underwriting, New Business and Administration and Billing services programme (RUNA) in 2014. Serole participated in 2016 in a request for proposal and proof of concept to display the benefits of SAP for health insurance to Discovery.
“I was eager to engage with an innovative and well-known brand such as Discovery Health, and bring our unique set of skills and our engagement model in order to deliver a solution of the highest quality. The Serole team’s exposure to the forward-thinking people within Discovery Health has made us push the boundaries in terms of our own thinking and solutioning,” said Country Head of Serole Australia, Gary Coetzee.
Discovery Health needed to maintain its existing business practices, which provide its competitive edge. This includes policy onboarding, policy administration and bespoke business innovation for which Discovery develops its own systems.
Therefore, the medical scheme did not select wall-to-wall implementation but adopted a “build and buy” approach. Discovery Health elected SAP’s Financial Services – Collections and Disbursements (FS-CD) module to replace its collections and disbursements functionality. FS-CD is a proven billing solution that forms part of SAP’s larger suite of insurance products and supplies all the capabilities required for sub-ledger accounting in insurance business.
Serole is implementing the following main components of FS-CD:
- Integration with Discovery Health’s existing technology landscape;
- Facilitation of broker collections;
- Claims payment and premium collection;
- Premium invoicing of customers;
- Automatic reminders for overdue accounts;
- Automated depreciation functionality for items within an adjustable tolerance;
- Integration with external client systems, including policy management and finance; and
- Cross-industry tasks such as payable accounting, receivable accounting and dunning.
Using SAP’s Activate methodology, the team kicked off in February 2019 with the Discovery, Prepare and Explore phases. The Realize phase (design, development and testing) is currently being undertaken. Serole’s advantage of having expert skills working across multiple time zones in Australia, India and South Africa, means the team can optimally meet the RUNA project’s deliverables.
Serole has played an integral part in Discovery Health’s decision-making journey to replace the existing billing system. “If Serole’s delivery and implementation is anything like the feedback we receive from their existing clients across the globe, we are in good hands,” said Discovery Health’s Policy, Admin and Billing Systems owner, Mariun de Jager.
Subsequently, Serole wants to grow its relationship with Discovery Health into other areas of the technology ecosystem and will support the medical scheme in taking this leading-edge technology and innovation to the broader insurance market.
“We are immensely proud of our accomplishments to date,” said Delivery Executive of Serole South Africa Roland Pepper. “Using South Africa as a base, we look forward to growing our footprint and establishing new partnerships with clients in Africa, America and Europe.
“SAP has worked extensively with Discovery and Serole to bring the quality of this very innovative product (FS-CD) to a development phase where the implementation and business knowledge of both parties is being used to bring substantial, sustainable benefits to the Discovery business. SAP works best when matched with the deep skills of a qualified partner, and an innovative and knowledgeable customer such as Discovery.”