Insurance

International analyst reports are showing that in the insurance sector SAS is (again) a market leader capturing the largest market share of it in Business Intelligence, Analytics, and Performance Management. Accordingly Analytical View is implementing solutions in the insurance market exploiting sector-specific tools by SAS, built on a flexible business analytics framework and insurance-specific data model. These solutions are helping the insurers to cope against uncertainties, increasing costs, competition and customer claims while the same time assisting them to comply to regulatory orders.

Solvency II

Acting as an equivalent of Basel regulations for Banks, Solvency II encodes and imposes a single harmonized set of regulations for the European insurance industry covering 30 countries. It will replace the current patchwork of varying domestic standards with more harmonized requirements that will make it easier for firms to do business across the EU.

Although many companies may view Solvency II as one more ‘poisoned chalice’ by Brussels’ bureaucracy that, eventually, has to be swallowed, in reality it could act as a boon, not a menace. Customer’s experiences show that the opportunity to introduce risk management into daily business practices is a way to gain competitive advantage. It is also a tool to identify commonalities between business needs and compliance requirements improving so overall business efficiency and strategic planning. Implementing SAS Solvency II solutions, insurance companies not only meet Solvency II requirements, but they are reducing the same time the impact of risks, they lower total cost of ownership and ensure transparency and traceability across the entire process.

Solutions offered include areas of:

Customer Insight

Operations

Risk

Using SAS tools and solutions such us:

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