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Daily Insurance Industry News
Thursday 22nd of February 2018
April 15, 2010

SAS launches Risk Management for Insurance

by Gill Montia

Story link: SAS launches Risk Management for Insurance

SAS has launched SAS Risk Management for Insurance, which it describes as “a comprehensive solution for risk analysis and risk-based capital calculation”.

The data management and reporting platform, which includes an insurance-specific data model, can help both life and property & casualty firms implement the Solvency II standard model for calculating risk-based capital.

Its business analytics framework also enables insurers to support the internal model approach for risk analysis, helping to provide senior management with greater understanding of their company’s risk and financial condition.

The new offering can apparently integrate easily with third-party risk software.

The group’s global insurance industry marketing manager, Stuart Rose, comments: “The financial crisis and the Solvency II regulations taught insurers that complex risk management requires more advanced, integrated and scalable solutions.”

He adds: “SAS Risk Management for Insurance supports the evolving risk requirements of insurers today and in the future.”

In other Solvency II news, the Financial Services Authority has recently been challenged over its decision to work with a group of UK insurers to pilot new internal models to assess how much capital a company needs to hold once the new regime comes into force.

According to law firm, Eversheds, while the regulator needs help from the industry to evaluate the practical impact of Solvency II, companies involved in the pilot could gain considerable competitive advantage.

 

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