Insurers streamline capital planning, compliance with SAS® Analytics

SAS® Capital Planning and Management aligns finance, risk, actuarial and regulatory compliance demands

A host of new regulations are pressuring insurers to plan and assess current and future risk with greater depth and accuracy. SAS® Capital Planning and Management now helps insurance companies improve risk assessment and comply with Solvency II and other insurance regulations – all while increasing operational efficiency.

“With SAS Capital Planning and Management, Ydrogios Insurance can meet the new Solvency II requirements while acquiring a powerful strategic decision making tool to holistically view risk across all business areas,” said Thanos Agelopoulos, Chief Risk and Actuarial Officer at Ydrogios Insurance. “Now, we can quickly and more accurately calculate the required solvency capital over three years based on different scenarios and assumptions of our business plan. Executives have direct access to easily assess specific capital requirements drawn from select business strategies.”

To comply with new rules, insurers must perform an Own Risk and Solvency Assessment (ORSA). This self-assessment involves an annual, forward-looking review that surfaces material risks the insurer faces today and looks into the future as well. SAS Capital Planning and Management establishes an integrated environment to assess and project capital in support of the ORSA requirements.

By integrating balance sheets and income statements into business planning and capital projections, SAS Capital Planning and Management helps insurers better understand risk profiles. They can then align strategies and goals across finance, risk, actuarial and regulatory compliance functions.

SAS Capital Planning and Management also improves efficiency by enabling staff to quickly produce reports for executives and regulators. SAS’ preconfigured capital planning framework includes predefined templates that can be updated dynamically. The solution ensures ongoing consistency, transparency and auditability.

“The growing complexity of the insurance industry demands a more comprehensive approach to risk management,” said Stuart Rose, Global Insurance Marketing Principal at SAS. “SAS Capital Planning and Management helps insurers comply with the quantitative aspects of ORSA while also meeting their own evolving risk analysis needs.”

Learn more about ORSA and other emerging global insurance regulations. 

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