Offshore investment firm Aegon Ireland gets ready for Solvency II with SAS

With Solvency II deadlines fast approaching, Aegon Ireland has chosen data management and reporting technology from SAS to satisfy regulatory requirements and provide business data insights for management.

Aegon Ireland, part of the international insurance, pensions and asset management company Aegon Group, has provided offshore investment solutions since 2002, and currently manages assets of over £4 billion for its 20,000 customers across the UK, Germany and France.

Like many financial services organisations, it needs to comply with the Solvency II Directive, that requires insurers to demonstrate they have enough capital to remain solvent and have effective risk management systems in place.

Tadhg Clandillon, director of reporting at Aegon Ireland, said: “We want to improve the processes employed right through the data life cycle – from source to report – so that we can provide reporting data more cost effectively whilst retaining robust standards that are transparent to all stakeholders."

Aegon Ireland is using SAS Risk Management for Insurance that includes an insurance-specific data model for complex risk analytics. It is also using SAS Visual Analytics, which enables organisations to easily map out and understand analytic insights and share those with employees and customers across an organisation. And SAS Data Management is being used to improve, integrate and govern data at Aegon.

Copyright © 2014 IDG Communications, Inc.

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