Employees: 10,700, including outside sales reps Annual Revenue $400 Million Base Software: Oracle Insurance Application: Proprietary development on Oracle Profit and Cost and Business Intelligence tools: GaussSoft Profit and Cost & Radial Viewer Professional Services Automation: GaussSoft Activity Report

With an 18% market share in the life insurance market in Northern South America, SURAMERICANA is the No. 1 Life insurance company in its region.  Initially, Suramericana was running an activity based costing solution from the world’s leading vendor and processing times were taking more than 36 hours, sometimes locking down and requiring to be timed out.  Financial and profitability business intelligence information is key in a competitive environment where everybody is after No. 1, so it was important to have this problem solved.

A sister company to Suramericana was already successfully using GaussSoft’s GaussSoft Profit solution implemented by KPMG, and as a result, Suramericana chose to implement GaussSoft Profit and Cost for activity based costing, and Radial Viewer for reporting and analytics.  GaussSoft implemented an integrated solution that included Radial Viewer Enterprise and as a result of data processing times were reduced from 36 hours to less than 1 hour, despite the fact that the size of information was multiplied by 20 times due to an increase in granularity.  Today, the size of the data is five times the original; data processing is around 3 hours.

Today, Suramericana enjoys the flexibility and power of GaussSoft Profit and Cost and Radial Viewer technology and currently manages 2.5 terabytes of data from 8 different divisions.  Suramericana uses GaussSoft Profit and Cost, and Radial Viewer technology for the purpose of trying to find synergies between its divisions, as well as cross references (shared customers), cycles and trends.

Suramericana reports that now it is possible to have exact, detailed analytical information that spans several years at the speed of a mouse click.

Visit Suramericana’s Web Site: http://www.suramericana.com/Default.aspx