SAS roundtable on Solvency II casts bold vision
For insurance companies, enterprise risk management will be key to competitive advantage
05 November 2007 -
05 November 2007 – SAS, the leader in business intelligence, led a forum for European insurance leaders to discuss Solvency II with its chief European Union architects. Solvency II, a set of proposed regulatory requirements for insurance firms that operate in the EU, is expected to reinvent the way financial stability of insurers is evaluated.
Mikael Hagström, SAS Executive Vice President of Europe, Middle East, Africa (EMEA) and Asia Pacific told about 100 attendees, including SAS customers and EU officials and other policymakers, that the legislation is a springboard for innovation and competitive advantage.
"Solvency II is more than a cost-for-compliance issue," Hagström said. "It is an opportunity for companies to transform their business by putting an enterprise risk management system in place to gain competitive advantage. The future of insurance companies will be determined by their ability to handle risk in a more integrated, aligned way."
Attendees of the Solvency II Executive Roundtable included SAS customers from across the EU and Switzerland. SAS has a worldwide presence in the insurance industry, with more than 1,100 companies using SAS for customer intelligence, performance management and risk management.
Earlier this month, SAS announced a new solution to help insurers comply with Solvency II and achieve better risk management processes. SAS® Enterprise Risk Management for Insurance features applications for both general and life insurance to measure and manage regulatory and economic capital and also includes capabilities for risk monitoring and risk-adjusted performance management. Based on SAS’ award-winning enterprise risk data architecture, applications will be delivered to meet the insurance industry’s specific requirements.
About SAS
SAS is the leader in business intelligence and analytical software and services. Customers at 43,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world The Power to Know® .
The Power to Know®
.
For further information, please contact the team at the SAS press office on:
Tel: +44 (0) 1628 490490
e-mail saspressoffice@suk.sas.com
For more information on SAS, please visit www.sas.com/uk
Copyright © SAS Institute Inc. All Rights Reserved.
|
Printer-Friendly