Allianz work with SAS’ business intelligence and business analytics solutions in its shared service centers, platforms and applications resulted in a higher degree of services, improved resource usage transparency and needs-based customization such as access profiles.
While Chartis improved profitability through better pricing, expedited refined claims service programs and enhanced statutory and compliance reporting, it was its work in claims that received SAS’ attention. Its use of CAT models helped it project hurricane storm paths to accelerate the preparedness of claims adjusters. Chartis built a patent-pending system called CERT to identify gaps in field assistance and automate reports for claims adjusters. In addition, Chartis built a complex SAS data warehouse and reporting platform for CAT liability analysis. Through improved budgeting and underwriting, Chartis increased its exposure reporting accuracy and reduced reinsurance expenses.
The two insurers join a long list of past winners in a variety of industries, and SAS said that the announcement, which was made at SAS’ Global Forum in Orlando, emphasizes the growth the insurance industry has experienced in using analytics to harness Big Data for critical business needs and to ultimately increase profitability.
“Analyzing big data to make better business decisions has become a critical objective for Chartis,” said John Savage, head of science, global casualty, at Chartis. “Our clients expect us to be a leader in the science of safety, and SAS is enabling Chartis to fulfill that mission.”
