Insurance Technology Featured Article

Fennia Mutual to Benefit from SAS Risk Management for Insurance

December 03, 2012

To generate added value for its business operations, Fennia Mutual Insurance Co. and Fennia Life Insurance Co. Ltd., thanks to SAS (News - Alert) Risk Management for Insurance, see the mandates of Solvency II as an opportunity. The Solvency II Directive aims to harmonize the solvency, reporting and risk management requirements of European Union insurers. The solution, from business analytics leader SAS, will improve internal analyses, reporting and risk management and also help Fennia meet Solvency II compliance.

“SAS Risk Management for Insurance helps us to streamline our solvency calculations and reporting in accordance with the new requirements. SAS also offers excellent support for our internal risk management,” said Raoul Berglund, head of risk management at Fennia Mutual.

He added that to plan and steer more efficient business operations, good capital and solvency management supports sound decision making. It is also the best way to protect the interests of the insured.

A SAS customer for 28 years, in order to address the compliance challenge, Fennia naturally turned to SAS. With more than 40 European insurance companies already using SAS Risk Management for Insurance, SAS’ solid insurance expertise includes a proven track record.

Johan Sandell (News - Alert), marketing manager for SAS Finland, stated that paired with SAS’ extensive risk management experience, SAS Risk Management for Insurance will help Fennia meet the new requirements of Solvency II in an effective manner and improve its internal risk management. Its top experts understand the challenges of the new directive and speak the same language as its customers’ risk management experts.

To help meet all requirements of the Solvency II Directive, SAS Risk Management for Insurance offers a comprehensive and flexible solution. Owned by its clients, Fennia Mutual Insurance Company has more than 70 years of experience in risk management and underwriting non-life insurance for business clients. While being the largest independent vendor in the business intelligence market, SAS is the provider of business analytics software and services.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Rachel Ramsey

Article comments powered by Disqus

Related Insurance Technology Articles

eBaoTech and Alibaba Cloud Launch Insurance Cloud Platform

At the risk of sounding like either a broken record or an "I told you so", it is getting to a stage where it has become almost mandatory in any insurance technology article to point out that industry analysts, financial analysts and even C-levels within all of the insurance industry's lines of business have all said the same thing. This common refrain is either a call to action or a warning. However, no matter the perspective it says to traditional insurers that they must automate, and change th… [ Read More ]
07/27/2015

InsureWell and Algebraix Data to Collaborate on Big Data Analytics for Insurance Industry

InsureWell and Algebraix Data partner to use Bid Data to provide better and more timely info to insurers. [ Read More ]
07/24/2015

SSP and Capgemini Partner to Improve Insurance Company Competitiveness

SSP and Capgemini team to help insurers compete in the hot UK market. [ Read More ]
07/24/2015

HoverStat Continues Looking to Improve Its Unmanned Aircraft Vehicles (Drone) Program

HoverStat looking at insurance as important market for drones. [ Read More ]
07/16/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!