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.