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Greek Life Insurer EFG Selects SAS For Solvency II Initiative

The company will use SAS Risk Management for Insurance to manage risks and calculate metrics to help meet Solvency II requirements.

Athens-based EFG Eurolife Insurance will use SAS (Cary, N.C.) Risk Management for Insurance to manage risks and calculate metrics to help meet Solvency II requirements, the companies announced today.

"As one of the largest, most profitable and strongest capitalized 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, in a statement.

The project will result in EFG Eurolife establishing an integrated platform for business intelligence, including a data warehouse, risk management and customer analytics. Through Solvency II compliance, EFG expects to facilitate better business processes and operations through integrated risk management and data management and analysis, the company says.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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