[Techtaffy Newsdesk]

SAP is acquiring Camilion, a provider of insurance product development, product life-cycle and underwriting solutions for insurance companies.

Camilion was founded in 2001. It is privately held, with offices in Canada and the United States. SAP and Camilion have collaborated since 2008.

SAP plans to provide the SAP Business All-in-One solution for Insurance, together with Camilion. This will include integrated capabilities from strategy through finance to operations powered by in-memory and mobile technologies, available both in the cloud or on premise. Traditional solution suites for the insurance industry have been limited to policy, billing and claims, says SAP.