SAS - SAS Risk Intelligence for Insurance

General description of system

Risk and business performance are inextricably linked. All employees and processes have to be geared towards including risk as a clear part of the definition and execution of the business strategy. The SAS Risk Intelligence for Insurance solution approaches risk from this higher level. Rather than simply addressing one particular aspect of risk management, it builds a platform on your existing technology investments to deliver high quality information to everyone who needs it, adding value at every step of the way. It delivers information that meets the requirements of individual managers, but it does so within the framework of a single version of the truth.

Our proven Risk Management solutions are highly respected and have received a number of accolades including:

• SAS core risk management technology ranked first in Chartis RiskTech 100 report
• Chartis Research positions SAS as the established leader in the Retail Banking Credit Risk Management Systems 2008 Competitive Landscape
• Gartner positions SAS in the leaders' quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services

Functions performed

SAS satisfies all the requirements of an integrated, enterprise-wide risk solution:

• Breadth: SAS integrates functions and technologies across the enterprise
• Depth: SAS reaches all who need it, in a way that is relevant to them
• Completeness: SAS offers a comprehensive, end-to-end platform, from raw data to actionable information
• Advanced analytics: SAS delivers predictive insight, not just hindsight
• Data quality: SAS supplies all applications with a single validated, verified version of the truth
• Intelligence storage: SAS meets the varying needs of intelligence applications for rapidity and reach of information delivery.

Specific Solvency II features

SAS, recognised as one of the leading vendors for enterprise risk management solutions in the financial services industry, can help you get a step ahead of the competition by preparing now for Solvency II compliance using our proven data integration, powerful advanced analytics and flexible reporting software. SAS offers comprehensive, end-to-end risk management capabilities:

• Solvency II-ready platform. SAS provides a single, integrated risk framework that can be customized to meet your requirements - from data extraction through to analysis and reporting
• Insurance data model. SAS provides a comprehensive data repository that includes hundreds of predefined data transformation routines. The insurance-specific data model has been designed and will evolve based on EU requirements, starting with QIS4 through to the EU standard model for Solvency II
• Solvency II compliance. The SAS solution provides a robust risk analytics framework that calculates MCR and SCR for both standard and internal model approaches
• Disclosure and governance. Flexible reporting capabilities and complete transparency help ensure that even now experts can view, validate and audit every step of the analysis quickly and easily
• Beyond Solvency II - Enterprise Risk Management. The SAS solution supports the implementation of economic and rating agency capital models on a single platform. It supports integration of risk management with strategic planning activities like ALM, pricing and reinsurance optimization

Specifications

The SAS Risk Intelligence for Insurance solutions are typically implemented in a client/server configuration. They are compatible with a wide variety of platforms and environments.

Because of the differing technical environments and performance requirements of our customers we offer a full sizing and architectural design service as part of the sales process, and would also recommend that the solution be installed by our dedicated installation team.

Licensing/sales/support

SAS' business model is a subscription licence that incorporates usage-restrictions based on a period of time as determined by contract (similar to a rental agreement). The customer pays a first year fee and has the option to renew annually. A variety of metrics are used to determine fees, depending on the offering(s) proposed. All bug fixes, new releases, and technical support are included with each renewal subscription fee for the period licensed.

SAS customer support is supplied at no additional charge to all customers. The customer support department is dedicated to giving the highest quality technical support and obtained ISO 9000 registration in 1994. UK customer support is based in the SAS UK headquarters in Medmenham, Marlow. It has nineteen dedicated support consultants, who have access to a pool of technical consultants and resources worldwide.

SAS is also able to offer a wide variety of additional professional services available to support our customers. These include:

• Consulting: SAS Consulting provides expert advice and help at all stages of a project's life cycle. Education: We offer a wealth of courses, qualifications, and services that give your people the knowledge to make the most of your investment in SAS.
• Premium Support: This service extends SAS' world-class customer support by providing an additional ‘proactive' and preventative service

Information on the many ways SAS' Professional Service could help your organisation, please visit our website: http://www.sas.com/offices/europe/uk/services/index.html

Types of user

SAS insurance intelligence solutions are deployed in a wide variety of insurance and health insurance companies from the medium sized organizations to the very largest including:

In Europe: AXA, Allianz, Generali Group, Standard Life, and Swinton
In the Americas: Blue Cross and Blue Shield of Florida, HCSC,
In APAC: NRMA, Insurance Services Malaysia

Elements of our solutions are deployed widely across a business as appropriate to the needs of the various departments, so you may find:

• Key Risk Indicators and Op Risk self assessment forms deployed across the business
• Risk assessment and management deployed in risk, finance, or strategy
• Advance risk analysis tools deployed in actuarial and credit risk
• GRC deployed in risk, finance, or company secretarial

Areas/countries with the most users

SAS has over 44,000 customers, with a variety of solutions, in 113 countries. Amongst these are more than 2,900 financial institutions worldwide, including 96% of banks on the 2006 Fortune Global 500

Contact person and details

SAS UK Headquarters
Wittington House
Henley Road
Medmenham
Marlow, Buckinghamshire
SL7 2EB
Phone: 01628 486 933
E-mail: info.uk@suk.sas.com
Web: www.sas.com/uk

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