Beyond compliance – Added value in a Solvency II implementation

Compliance and Risk Management Insurance News

Solvency II implementation costs may shave a few cents off earnings per share, but this cost should be balanced by the benefit of a far more transparent – consistently transparent – set of reporting requirements than before. This valuable information will lead to improved economic planning and insight, and the ability to embed early-warning mechanisms. Risks exposed The structure of data is critically important to any Solvency II solution. Hence, insurance companies should start early to design a data management framework that is flexible enough to support Solvency II and…

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SAS is a rising star for the insurance industry

Insurance industry gender diversity

SAS gaining popularity for innovative anti-fraud, security, and business analytics solutions SAS, a leader in business analytics software and services, is becoming a very popular name in the realm of fraud in the insurance industry. The global insurance industry continues to struggle with fraudulent activities throughout numerous sectors, many of which have adverse effects on honest customers. SAS has become a leader in anti-fraud and security software and have been working to combat fraud in an aggressive manner. The firm has begun expanding its Security Intelligence initiative by establishing a…

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Finding the Golden Needle – What Big Data means to Insurers?

insurance technology

Insurance Technology Article: The phrase Big Data seems to have taken the technology world by storm this year. A year ago, many insurance company’s IT Directors, even CIOs were not aware of Hadoop; now it is becoming an industry standard at many carriers. But in reality big data is not new to the insurance industry. It continues a trend that probably started back in the 1970’s with the invention of policy administration solutions and other IT systems. What has changed in recent years is the velocity of data flow, the…

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Insurer santalucía trusts SAS® to help address Solvency II and integrate risk management

MADRID – Building on its successful use of SAS in actuarial activities, Spanish insurer santalucía will use SAS Risk Management for Insurance to help meet Solvency II, Pillar I requirements to manage risks and calculate metrics. SAS, the leader in business analytics software and services, is a risk analytics solutions leader for the insurance industry. With 370 agencies, 9,000 employees and 7.5 million clients throughout Spain, santalucía chose SAS to undertake multidimensional risk analysis that includes both the standard model approach and the ability to develop integrated internal models in…

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Gartner names SAS as the leader in software market size

Gartner Inc has released a report entitled “Market Trends: No Escaping BI and Analytics in Insurance in 2011”, which gave SAS the top rank in software market size. In the report, the business analytics software and services leader was shown to have a quarter of the 2010 market share, with a $138.7 million revenue. The Gartner report said that insurance companies are focused on risk management, compliance with regulations, acquisition and retention of customers, and the achievement of excellence within their operation. These goals, according to Gartner, are pushing technology…

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