Gateway Systems Ltd, an SAP channel partner, and SAP America Inc gave Bermuda-based re/insurers a lesson in how SAP BusinessObjects performance management and analytic solutions can be used to address regulatory compliance issues mandated by the new Solvency II standard.They also highlighted how using these solutions and other technology offerings from SAP can enable customers to gain an insight and make informed decisions more quickly. Twenty companies attended the event, which was hosted by Gateway Systems at the Royal Bermuda Yacht Club.Participants from SAP America included Hugh Anderson, industry principal, financial services, and Richard Lewis, director of customer solutions, who demonstrated to attendees the power and flexibility of SAP BusinessObjects reporting solutions, such as out-of-the-box solutions for financial disclosure via XBRL (eXtensible Business Reporting Language) taxonomy and an executive dashboard for risk and solvency management.Also on display were interactive desktop analytic widgets that refresh continually with predefined key performance indicators for real-time insight into performance across enterprise operations.“As an SAP channel partner, we have forged a strong relationship with SAP to serve customers in Bermuda in all sectors,” said John Kyle, managing director of Gateway Systems. “We work directly with SAP America to deliver full support of SAP BusinessObjects solutions to Bermudian insurers throughout the customer life cycle.”Of particular interest to participants at the event were demonstrations of new technology innovations from SAP including SAP HANA™ which provides extremely fast processing of “big data” via in-memory computing and the latest in secure analytics for iPads and other mobile devices.“We are delighted with our expanded relationship with Gateway Systems Limited,” said SAP’s Mr Anderson. “We have several insurance customers on the island and are collaborating with many more regarding our latest business solutions and technology. We are committed to this market, and having this on-island resource allows us to provide a consistent presence and build stronger relationships with Bermuda-based insurers.”