Elseco Transforms Subscription-Based Insurance with SAP BRIM: A Game-Changer for Aviation, Energy, and Space Sectors
Revenue Growth
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Revenue Leakage Prevention
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Automated Invoice Delivery
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INDUSTRY
Insurance
Company
Headquartered in the UAE, Elseco is a leading specialty insurance provider focused on underwriting high-technology risks in the aviation, energy, and space sectors. With a reputation for excellence, Elseco leverages data analytics to provide its clients with innovative and customized insurance solutions that drive business growth and risk management.
Elseco’s mission is to revolutionize the insurance industry by simplifying subscription-based business models, offering flexible pricing structures, and providing seamless billing solutions for both B2B and B2C customers. The company is committed to optimizing its operations through digital transformation and automation, ensuring transparency, efficiency, and scalability.
The Business Challenges
Elseco faced multiple challenges in its efforts to modernize its insurance offerings and improve operational efficiency:
- Difficulty in managing customer-specific pricing for subscription-based insurance services.
- Complex fee structures for aviation, energy, and space insurance, requiring a flexible billing system.
- High dependency on manual processes for order-to-cash operations, leading to delays and inefficiencies.
- A lack of transparency in metering and revenue tracking, impacting financial planning.
- The need for a unified platform to automate billing, legal reporting, and subscription pricing.
To maintain its competitive edge and enhance its service delivery, Elseco required a robust digital solution that could automate its billing operations while supporting flexible, customer-centric pricing strategies.
Our Solution
Mobolutions partnered with Elseco to implement SAP Billing and Revenue Innovation Management (SAP BRIM) as part of its SAP S/4HANA landscape to optimize subscription-based pricing and billing.
Key Features Implemented:
- On-demand aviation, energy, and space insurance billing
- SAP BRIM enables Elseco to provide on-demand insurance coverage based on real-time usage data, ensuring dynamic premium calculations.
- This approach eliminates rigid pricing structures, offering customers greater flexibility and cost efficiency in their insurance plans.
- Customer-specific pricing with flexible plans
- The system allows Elseco to design and implement flexible pricing structures tailored to customer-specific needs and risk profiles.
- Clients can choose from various plans that align with their insurance requirements, ensuring optimal cost management and enhanced service personalization.
- Integrated managed services with metering devices
- SAP BRIM integrates seamlessly with metering devices to collect and analyze real-time data for insurance billing.
- This automation minimizes manual intervention, ensures accurate billing, and enhances efficiency in premium calculations and policy adjustments.
- A Fiori-based solution integrated with SOM (Subscription Order Management), CI (Convergent Invoicing), and CC (Convergent Charging)
- The user-friendly Fiori-based interface simplifies policy creation, billing management, and revenue recognition in a seamless manner.
- The integration of SOM, CI, and CC streamlines order-to-cash operations, eliminating delays and inefficiencies in subscription-based insurance billing.
Implementation Process
- Assessment & Planning – Conducted an in-depth analysis of Elseco’s existing pricing and billing framework to identify gaps and inefficiencies.
- System Design & Configuration – Designed a scalable SAP BRIM architecture tailored to Elseco’s subscription-based business model.
- Integration & Testing – Integrated SAP BRIM with metering devices and existing ERP systems for real-time billing automation.
- Deployment & Training – Rolled out the new solution in phases while training Elseco’s internal teams on the optimized workflow.
- Continuous Optimization – Monitored system performance post-implementation, making iterative improvements based on analytics and user feedback.
The Results
The implementation of SAP BRIM has significantly enhanced Elseco’s pricing and billing operations, delivering measurable business benefits:
- Revenue Growth – 143% increase in revenue since BRIM implementation.
- Invoice Processing Efficiency – Reduced invoice creation time from multiple weeks to just 7 days.
- Revenue Leakage Prevention – 4% additional revenue accounted for due to accurate tracking and billing automation.
- Automated Invoice Delivery – 85% of invoices are now delivered automatically, improving cash flow and reducing manual interventions.
With SAP BRIM, Elseco has successfully transitioned to a digital-first, subscription-based insurance model that enhances pricing flexibility, automation, and transparency. The streamlined billing operations, automated invoicing, and customer-centric pricing strategies have positioned Elseco as a leader in the aviation, energy, and space insurance markets.
By partnering with Mobolutions, Elseco has achieved operational excellence, strengthened financial performance, and improved customer satisfaction. The successful adoption of SAP BRIM underscores Elseco’s commitment to innovation and continuous business growth in the evolving insurance landscape.
