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Insurance is all about providing peace of mind for policyholders. But peace of mind is something that many insurers themselves lack, as uncertainty looms over the issues they face:
- Are we over-exposed to catastrophe risk?
- Will competitors steal the customers we’ve worked so hard – and spent so much – to acquire?
- How can we tell which customers are profitable to us and which ones aren't?
- How vulnerable are we to claims fraud, and how can we prevent it?
- Will our agents who drive revenues defect to the competition?
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All this uncertainty is compounded by the macroeconomic underwriting cycle of alternating hard and soft markets. In addition, insurers must comply with ever-changing regulations and increasing demands from rating bureaus, consumers and investors. Mid-market insurers face their own set of challenges. Failure to address any of these issues can spell disaster.
Delivering peace of mind to insurers
SAS can help ease the uncertainty facing the insurance industry. We tackle insurers’ top-of-mind issues head-on with proven, industry-specific solutions and a robust foundation technology that enable you to:
- Build innovative pricing models using the most advanced analytic
techniques available.
- Accurately forecast business trends using our high-performance
forecasting server software.
- Make access to information simple and painless for all users
with our business intelligence and advanced analytics platforms.
- Respond quickly and thoroughly to regulatory and rating bureau demands using
transparent reporting applications.
- Detect and prevent fraudulent activity by mounting a multifaceted
defense against would-be fraudsters and organized fraud rings.
- Effectively manage all aspects of risk – operational,
market or credit risk.
- Determine customer LTV and predict behaviors such as attrition and cross-sell response with considerable accuracy and ease.
- Monitor all these initiatives with easy-to-use, industry-specific
scorecards and dashboards.
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SAS delivers peace of mind for insurers based on a solid foundation for success
that includes:
- An end-to-end platform for data integration, data storage, business
intelligence and analytics – all tied together with open metadata.
- An insurance-specific data model that reduces implementation
time for major projects significantly.
- Our powerful, fourth-generation language, which has been under
constant development for more than three decades.
- Integrated, industry-specific SAS
Insurance Intelligence Solutions, a family of flexible, extensible
solutions that include prebuilt data and analytic models as well as streamlined
processes and techniques that speed up both implementation and results, giving
you a fast track to significant ROI.
Benefits
Manage risk. The ability to assess and manage risk more
effectively than the competition is a key differentiator for insurance companies.
SAS offers a variety of solutions to support the successful management of
all relevant risk types:
Increase customer profitability. We combined our unmatched
analytic power with our knowledge of insurance-specific CRM challenges in
solutions that empower you to execute a comprehensive CRM strategy:
Improve operational efficiency. SAS also offers solutions
to help you efficiently manage your key internal processes:
- Gain insights that enable you to plan and implement effective human capital
strategies to derive the most value from employees and intermediaries with SAS
Human Capital Management.
- Go beyond traditional IT performance management and leverage the full potential
of every IT resource across the enterprise using SAS
IT Management Solutions.
- Improve financial decision making and optimize financial performance in every
corner of your organization using the industry-leading budgeting, planning,
consolidation and reporting capabilities of SAS
Financial Management Solutions.
SAS has served the insurance industry since 1976, and we will continue to
develop industry-specific solutions tailored to meet your precise needs and
give you THE POWER TO KNOW®.
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Industries
Aerospace
