SAS selected by MGEN to enhance risk management
The Mutuelle Générale de l’Education Nationale (MGEN), France’s largest supplementary insurance company, has chosen SAS® OpRisk Monitor software to optimise its operational risk management.
It was two years ago that MGEN began to assess its operational risk program with a view to bolstering internal monitoring and meet new EU regulatory requirements, such as Solvency II.
Head of Internal Control Group Frederic Morvan explained that the firm sought not merely to collect information but to integrate it into daily activities, emphasising the desire to be able to access reliable reports at any time.
MGEN is currently putting the finishing touches to the development and implementation phases, with deployment intended to occur in Q1 2010.
Under the plans, the firm would transfer all information to the new system, with no loss/degradation.
Last year the SAS risk management software won a number of accolades, with the firm topping the Chartis Research’s RiskTech100TM and coming first in the Chartis Research’s Operational Risk Management Systems 2009 report for the fifth year on the trot.
Category: Insurance News
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