Aegon Ireland adopts SAS to reduce reporting times
European guarantees solutions provider uses SAS to aid Solvency II compliance
Aegon Ireland, European guarantees solutions provider to the Aegon Group, has selected software from analytics leader SAS® to improve business decision-making. Using SAS®, it is standardising and automating reporting across the Finance Department, enabling users to analyse data more quickly and thoroughly. As a result, Aegon Ireland has reduced reporting times by 30 per cent. That means faster and more controlled output to deliver on Solvency II requirements and allowing it to deliver the required number of reports under Solvency II.
Tadhg Clandillon, Deputy CFO of Aegon Ireland, said: "We can do everything with a single application. Decision-makers can perform their own analysis at will. That responsiveness is invaluable to the business, as it makes us far more agile. After the success of the initial implementation we plan to expand the system into the next phase of the project and automate our entire reporting environment."
Aegon Ireland chose SAS due to its ease of use so that those without a technical background can carry out in-depth analysis using intuitive dashboards. The high degree of control and auditability of the platform, as well as its ability to deploy and deliver results rapidly, were also contributing factors.
"For today's financial institutions, having the ability to manage growing volumes of data alongside increasingly stringent legislation is the key to preserving their reputation and strengthening customer relationships," said John Lyons, SAS Regional Director (Ireland). "SAS enables Aegon Ireland to stay ahead of the competition with agile, informed business decisions, thus helping its customers better prepare for their financial futures."
Find out more about the essential steps that insurance companies need to complete to ensure Solvency II compliance and the ability to support enterprise risk management.
We first opened our doors in 2002 and have been helping people prepare for their financial future ever since, with a wide range of innovative investment solutions – including the manufacture of guaranteed propositions in the UK, Germany and France – as well as traditional offshore bonds. Today, we manage approximately £4 billion of funds for nearly 20,000 customers.
We’re part of the Aegon Group, an international provider of life insurance, pensions and asset management. Aegon has businesses in over 20 countries around the world and around two million customers in the UK alone. Working directly with these customers, employers and advisers, Aegon’s proud to be helping people take responsibility for their financial future.
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