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Solvency II

Any move that improves the regulation of risk has to be welcomed. But meeting the new Solvency II regulations in time presents a significant challenge for many insurance companies. It's not just compliance and actuarial departments who have to get up to speed. From now on, every insurance business across the EU needs to make risk management an integral part of its daily business - from operational practices to public reporting.

Fail to adequately demonstrate your capital strength - and justify the steps you've taken to protect your stakeholders' financial interests - and it will cost you time and money, putting you at risk of capital add-ons and reputational damage. This, in turn, will have a direct impact on your profitability, growth and future market share.

But approached another way, Solvency II can be turned to your advantage. If you can embed the new tighter regulations across your business quickly and effectively, you can boost both profits and credibility, whilst stealing a march on your competitors.

Exclusive Report

After the storm: A new era for risk management in financial services

How SAS Can Help

SAS® Risk Management for Insurance has the flexibility and sophistication to prepare your organisation for Solvency II, now and as the standard evolves.

  • Reduce the cost and time of implementation by 25-30%: Because our solution for analysing and quantifying your risk-based capital needs is pre-configured and works with both the standard and internal models, it's quick and easy to set up.
  • Improve accuracy: Our sophisticated risk analysis tools let you calculate risk capital for each risk type as well as aggregated capital.
  • Improve transparency: Easily produce comprehensive, accurate reports at both a product and policy level for public disclosure and supervisory review.
  • Reduce the data management burden: SAS Risk Management for Insurance uses comprehensive data management tools to comply with Solvency II Use Test requirements.

Solution

SAS® Risk Management for Insurance comprises four applications, each of which includes an insurance-specific data model, prebuilt data management capabilities and risk analysis and reporting functions.

  • SAS® Market Risk Management for Insurance: allows risk analysts to configure and calculate the true market value of financial instruments and assets.
  • SAS® Underwriting Risk Management for Insurance: helps analysts blend actuarial and financial techniques to value complex life insurance liabilities.
  • SAS® Underwriting Risk Management for P&C Insurance: uses actuarial and financial techniques to help analysts value P&C insurance liabilities by both accident and underwriting year.
  • SAS® Firmwide Risk Management for Insurance: aggregates risk across the enterprise and calculates the quantitative measures required by Solvency II.
 

Ready to learn more?

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

 

 

Questions?

 

Exclusive Report

After the storm:
A new era for risk management in financial services