MGEN selects SAS to optimize operational risk management program
CARY, NC (Jun. 09, 2010) – France’s largest supplementary insurance company is enhancing operational risk management with SAS® OpRisk Monitor software from SAS, leader in business analytics software and services. With more than three million policyholders, the Mutuelle Générale de l'Education Nationale (MGEN), underwrites both compulsory and supplementary insurance plans.
In early 2008, MGEN began evaluating its operational risk program to strengthen internal monitoring and address new European Union regulations, such as Solvency II and the French administration rules of CNAMTS (Public Health Insurance Fund for Salaried Workers). MGEN sought a comprehensive risk-mapping solution for its mutual entities (MGEN, MGEN Filia, MGEN Life) and its steering body, MGEN Union.
“Our ambition is to go beyond simply gathering information, and actually incorporate this solution into day-to-day activities,” said Frederic Morvan, Head of Internal Control Group MGEN. “We particularly want to be able to access reliable reports at any time." It is in this context that the MGEN has selected SAS OpRisk Monitor.
MGEN is currently finalizing the development and implementation phases, with deployment targeted for Q1 2010. The plans include transitioning all existing data to the new system, without loss or degradation of information.
SAS® OpRisk Management is a comprehensive solution built on the SAS Business Analytics Framework, an integrated platform with capabilities for data integration, a wide range of analytical tools and multiple reporting capabilities. SAS OpRisk Management helps companies optimize capital allocation while minimizing the risks in all areas of their organization.
SAS risk management software has garnered many accolades in 2009. In November, SAS was ranked the top company in Chartis Research’s RiskTech100 TM . SAS placed in the Leaders quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services by Gartner Inc. in September. In June 2009, SAS was first in Chartis Research’s Operational Risk Management Systems 2009 report for the fifth consecutive year.
Currently, over 200 organizations worldwide use SAS to manage their operational risks.
Since 1946, Mutuelle Générale de l'Education Nationale (MGEN), the largest French mutual insurance company, has served, professionals of the Ministry of education higher education, research, culture, communication, youth and sports. Today, MGEN covers nearly 3.4 million people with health benefits and pension supplementary and/or compulsory health insurance. MGEN manages 33 health centers and actively supports research in public health with more than 9,400 employees.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
The Power to Know®