SAS Enterprise Risk Management for Insurance will provide a more consistent and open regulatory framework to ease selling across different markets.

Under increased pressure for reporting requirements from key stakeholders including legislators, shareholders and policyholders, insurers can look to SAS. A provider in business intelligence recently announced plans for SAS Enterprise Risk Management for Insurance to help insurers comply with legislation and embrace better risk management processes.

Featuring specific portfolios for both general (property and casualty) and life insurance, the planned applications suite will cover measurement and management for both regulatory and economic capital as well as risk monitoring and risk-adjusted performance management. Driven by the extensive enterprise risk data architecture of SAS, applications are customized for the insurance industry’s specific needs.

SAS Enterprise Risk Management for Insurance will provide a more consistent and open regulatory framework to ease selling across different markets. The more sophisticated and accurate assessment of insurers’ capital requirements reduces costs by eliminating the need for excess capital.

“Worldwide legislation in various industries regulates enterprise risk management, beginning with Sarbanes-Oxley in 2002, followed by Basel II and now Solvency II,” said Patricia Finn, Vice President, Global Public Policy at SAS. “As a recognized leader in addressing Basel II, it is only natural that SAS help customers address additional regulations and provide superior risk management capabilities across the enterprise.”

Click here to view the entire Press Release.