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Insurance Operational Risk

Risk is the beating heart of insurance. And yet insurers don't always manage their own operational risk as well as they manage the risks they're insuring against.

Compliance with impending Solvency II regulations is only one of many compelling reasons to take a fresh look at operational risk within your company. Do so, and you may find that you can cut operational losses or introduce cost-saving efficiencies. You may even find that you can free up regulatory capital and use it instead to boost profits.

That's where SAS can help. Our operational risk management solution puts you in control of risk right across your business, so that you can manage it, avoid it and even turn it into opportunities.

Solution Brief

How can we reduce our exposure to PII data breaches?

How SAS Can Help

SAS® OpRisk Management helps you understand the true nature of risk - and your exposure to it - across your organisation.

  • Get a clear overview of risk: SAS OpRisk Management automatically gathers data across the company, unifying information silos. It monitors and reports on those risks you want to manage closely, allowing you to foresee problems and prevent or mitigate them.
  • Align risk management with strategy: Because key risk indicators can be tracked, monitored and modelled directly against business performance, you can identify change that will increase efficiency, improve business processes and save money.
  • Make better decisions: By tracking loss events and collecting data on the contributing factors, you can more accurately predict the probability and impact of potential future loss events.
  • Comply with regulatory requirements including Basel II.

Solution

There are three complementary elements to the SAS OpRisk Management solution:

  • SAS® OpRisk Monitor, a web-based application that automates and simplifies the process of collecting, storing, analysing, tracking and reporting on information about operational losses, risk and control assessments and key risk indicators.
  • SAS® OpRisk VaR, a sophisticated modelling tool that uses known information to give you an accurate picture of your risk of loss across the organisation.
  • SAS® OpRisk Global Data, a comprehensive, accurate repository of information on publicly-reported loss events that provides a valuable supplement to your own statistical knowledge base.
 

Ready to learn more?

Call us at 01628 486 933 (UK) or request more information.

 

 

Questions?

 

Solution Brief

How can we reduce our exposure to PII data breaches?