European guarantees solutions provider uses SAS to aid Solvency II compliance

Aegon Ireland, European guarantees solutions provider to the Aegon Group, has selected software from analytics leader SAS^® to improve business decision-making. Using SAS^®, it is  standardising and automating reporting across the Finance Department, enabling users to analyse data more quickly and thoroughly. As a result, Aegon Ireland has reduced reporting times by 30 per cent. That means faster and more controlled output to deliver on Solvency II requirements and allowing it to deliver the required number of reports under Solvency II.

Tadhg Clandillon, Deputy CFO of Aegon Ireland, said: “We can do everything with a single application. Decision-makers can perform their own analysis at will. That responsiveness is invaluable to the business, as it makes us far more agile. After the success of the initial implementation we plan to expand the system into the next phase of the project and automate our entire reporting environment.”

Aegon Ireland chose SAS due to its ease of use so that those without a technical background can carry out in-depth analysis using intuitive dashboards. The high degree of control and auditability of the platform, as well as its ability to deploy and deliver results rapidly, were also contributing factors.

Find out more about the essential steps that insurance companies need to complete to ensure Solvency II compliance and the ability to support enterprise risk management.