Digital Finance

Covéa continues its transformation, leveraging SAP & Axway to deploy its new Finance IT architecture

Axway is proud to relay a recent announcement made by its customer, the Covéa Group. (Lire cet article en français ici.)

Present in all sectors of the insurance market, the French leader in property and liability insurance, with its three recognized and complementary brands: MAAF, MMA and GMF, the Covéa Group is continuing its transformation by deploying its new Finance Information System.

Diapason project

Driven by the Diapason program launched in 2019, this transformation is part of Covéa’s “Growing Together 2024” strategic plan and contributes to the drive for operational excellence.

The Diapason project has several ambitions:

  • Have a common financial language for the three brands, by managing general and analytical accounting, overheads, budgeting, and financial reporting on a single platform
  • Simplify the processes
  • Rationalize legacy applications
  • Gain synergy
  • Facilitate future transformations, in particular the integration of new business systems

A decisive first step

The Diapason program has now reached a decisive first step: in accordance with the initial schedule, the MAAF brand companies were all successfully deployed on the new Finance system on January 3, 2022.

For its implementation, Covéa chose market-leading software vendors: SAP’s new ERP (SAP S4/HANA) and EPM (SAC Planning) solutions, hosted in the cloud, alongside Axway’s accounting integration platform.

The program is now entering its final stretch, with deployment scheduled for 2023 for the GMF and MMA brands. The new Finance system will then be made available to all of the Group’s accountants and management controllers, representing more than 500 users.

“The launch of the new Finance system at MAAF is a great success for the Covéa Group. This success is a sign of our ability to control our transformation trajectory in a period of crisis such as we have been through, while constantly seeking convergence, simplification, and rationalization of our ecosystem. This is a major asset for our employees, as shown by the very positive initial feedback from the business lines,” says Aude Messin, Covéa’s Director of Finance Transformation.

About Covéa

A French mutual insurance group, Covéa is the leader in property and casualty insurance and protects one household out of three thanks to its 21,000 employees in France, who are committed every day to serving 11.6 million policyholders. With its three brands MAAF, MMA and GMF, Covéa is a solid and dynamic financial player. The Covéa Group is also present internationally.

Discover the major current and future challenges of finance departments in our eBook (in French).