SOURCE: SAS Institute

SAS Institute

February 02, 2015 10:30 ET

Insurer International Life Taps SAS® for Compliance and Fraud Strategy to Spark Efficiency, Service

Analytics Fuels Solvency II and Fraud Management, Speeds Reporting While Reducing Losses

CARY, NC--(Marketwired - February 02, 2015) -  Boosting transaction reliability and customer service is just icing on the cake for International Life's new compliance and anti-fraud efforts. With SAS®, the Greek insurer is poised to better tackle Solvency II regulations, combat car insurance fraud, and improve operations.

With SAS Risk Management for Insurance, International Life can more accurately plan for required available capital based on Solvency II. The company can also automate parts of the supervisory review with built-in validation rules.

The insurer is using multiple techniques within SAS Fraud Framework for Insurance to expedite fraud management, detection and prevention in compensation claims. As a result, International Life reduces fraud leakage while increasing productivity and reliability.

"For us, SAS was an ideal choice to effectively deal with two critical insurance industry challenges: Solvency II compliance and fraud management," said Yannis Bravos, CEO of International Life. "With the latest SAS technology, we can provide better service to both our insurance intermediaries and customers."

"We are very happy to welcome International Life, one of the oldest insurance companies in Greece, into the SAS customer family," said Nikos Peppas, Country Manager of SAS Greece, Cyprus and Bulgaria.

Discover how analytics can help you prevent underwriting fraud.

About International Life

International Life is one of the oldest and largest insurance companies in Greece and has been present in the Greek insurance market for more than half a century. The group companies offer comprehensive insurance and investment plans addressed to individuals and businesses. The company has an international presence in Cyprus and Russia, while its wide network of 54 branches and 1,350 affiliated Agencies & Brokers cover Greece in its entirety. The company collaborates with top rated reinsurance brokers.

About SAS

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 75,000 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®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2015 SAS Institute Inc. All rights reserved.

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