EFG Eurolife Insurance will use SAS Risk Management for Insurance to manage risks and calculate metrics to help meet Solvency II requirements. SAS, the leader in business analytics software and services, will help EFG Eurolife, one of the largest insurers in the Greek market, establish an integrated platform for business intelligence including a data warehouse, risk management (Pillars I, II, III), customer analytics, and enterprise governance, risk and compliance solutions.
EFG Eurolife views the European directive Solvency II as more than a regulatory compliance project. EFG Eurolife believes Solvency II compliance adds value to the organisation by facilitating better business processes and operations through integrated risk management and data management and analysis.
This vision creates a solid foundation for future growth by optimising product pricing, reducing operational costs, and adding flexibility through instant responses to market and industry changes.
"As one of the largest, most profitable and strongest capitalised insurance companies in Greece, EFG Eurolife has chosen SAS as a reliable business solution for compliance with the Solvency II directive. EFG Eurolife will use SAS software to optimize corporate decision making through an integrated risk management environment," said Alexander Sarrigeorgiou, CEO of EFG Eurolife Insurance.
"We share a common philosophy with EFG Eurolife to satisfy the immediate needs of our customers," said Nikos Peppas, SAS Country Manager, Greece and Cyprus. "We are very proud that one of the largest insurance companies in Greece has selected SAS to help with the important issues facing insurers, including Solvency II compliance and integrated risk management. SAS has more than 30 years' experience and domain expertise with hundreds of deployments worldwide. We are confident we will contribute to the optimisation of EFG Eurolife, providing significant benefits for the company itself and its partners and clients."