|By Business Wire||
|October 16, 2013 08:07 AM EDT||
In order to comply with Solvency II, ARAG needed to centralize risk management. Germany’s largest family-owned insurer wanted a comprehensive risk platform for data management - from risk calculations to reporting - to leverage compliance for business needs. ARAG turned to SAS® Risk Management for Insurance to establish a common technology platform for all divisions, worldwide subsidiaries and insurance classes.
SAS Risk Management for Insurance gives ARAG its first-ever financial overview of the risks within the group. While complying with Solvency II regulations, the insurer expects to gain valuable new information and tools for corporate management.
“The key for us is the end-to-end approach. The platform must model and calculate risks while managing risk data centrally for the entire group. It must also provide information through regulatory-compliant reports,” said Wolfgang Mathmann, Head of Group Risk Management at ARAG. “The tasks must largely be performed with standard software to help minimize the project risks.”
Read more about SAS Risk Management for Insurance.
The ARAG Group is the largest family-owned enterprise in the German insurance industry and has strengthened its position among the world's three leading legal insurance providers. Over the past 78 years, ARAG has evolved into an international successful, versatile and independent quality insurer. The company operates in 15 countries, including the United States. ARAG is a market leader in Italy, as well as Spain. In the US and the Netherlands, the company is among the leading legal insurance providers. It is also Europe’s largest sport insurer - covering approximately 21 million leisure and competitive athletes.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 65,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®.
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