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

Auto Insurance Telematics Poised for Explosive Growth

Smart cars are getting smarter and have become foundational elements of our increasingly connected world. The data they generate pertaining to things like driver habits, the car condition and adherence to maintenance best practices, where the car is driven, where it calls home, etc. are all critical in determining insurance premiums. In fact, they are what will enable insurers the ability to reward customers who are good drivers and good owners while charging higher rates for those who are less … [ Read More ]
10/23/2014

Allscripts and ScriptSave Partner on Prescription Savings Program

While much attention in the insurance world is centered on using technology to improve the customer care of people with insurance, there are also efforts underway in the U.S. to help those without insurance get timely access to affordable medications. These efforts ultimately have the impact of bending the cost curve for medicines for everyone. [ Read More ]
10/23/2014

Leveraging M2M and IoT Services can Help Conventional Insurers Face Competition, says SAP Study

SAP SE stated that a recent study sponsored by it, revealed that long-standing insurance providers need to leverage and experiment with machine-to-machine and the Internet of Things and also invest more in customer-related technologies in order to gain a competitive advantage over non-insurance companies. [ Read More ]
10/21/2014

Vlocity Introduces Two New Cloud Apps Built on Salesforce1 Platform

Vlocity designs and creates industry-specific applications on the Salesforce1 platform to provide organizations with functional cloud in mobile software solutions that embed industry best practices and business processes. These applications take away all the hard work of integrating the latest technology and the processes an organization needs in one single app that can be deployed across different devices. With Vlocity, organizations are able to improve customer experience interactions across t… [ Read More ]
10/21/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!