SAS® Insurance Intelligence Solutions improve customer service while increasing profitability and efficiency
Toronto, ON (March 31, 2003) – SAS, the leader in business intelligence, today announced the release of SAS® Insurance Intelligence Solutions, a new industry-specific solution offering. SAS Insurance Intelligence Solutions are the third in a series of industry-specific packaged applications from SAS that address critical business issues. The suite of applications enables insurers to effectively implement targeted strategies, maximize profits, retain and grow customer accounts, manage risk and execute efficient marketing campaigns. Available today, the initial applications provide solutions for customer retention, segmentation, claims prediction, cross- and up-selling, marketing automation, and strategic performance management.
The new offering follows SAS’ introduction of SAS® Banking Intelligence Solutions and SAS® Telecommunications Intelligence Solutions in June 2002 and also incorporates domain expertise with a flexible underlying architecture.
“Yet again, SAS is demonstrating its understanding of specific industry business pains and its commitment to delivering solutions to address these pains,” said Bob Moran vice president and managing director for data knowledge and analytics at Aberdeen Group.
“With Industry Intelligence Solutions, insurers will be able to achieve rapid ROI while reducing the resources needed to generate intelligence on customers or their own organization’s performance.”
The solutions are based on SAS’ more than 26 years of experience providing software to the insurance industry. The packaged insurance solutions integrate this expertise with robust data management technology and award-winning analytics.
The modular framework of the solutions supports customization and delivers the flexibility to respond quickly to changing needs and trends. The extensible architecture allows companies to leverage their existing investments in operational applications and technologies to reduce risk and maximize returns.
“SAS Insurance Intelligence Solutions provide insurers with the edge to excel quickly in a very competitive market,” said Jim Davis, senior vice president and chief marketing officer at SAS. “With built-in industry knowledge based on more than 26 years of insurance experience, the new SAS solutions deliver rapid ROI with lower maintenance and implementation costs while offering world-class data management and analytical technology.”
Early customer support
SAS has secured early support for the new solution suite, through a three-year agreement with Mutual & Federal, one of the leading insurance companies in South Africa, and a contract with SA Eagle, South Africa’s third largest short-term insurer. Mutual & Federal provides specialized insurance service to the personal, commercial and corporate markets in South Africa, Namibia, Botswana, Malawi and Zimbabwe. SA Eagle, a member of the Zurich Financial Services Group, offers short term insurance through a network of offices in South Africa.
Insurance industry experience
SAS has a worldwide presence in the insurance industry, with more than 800 companies using SAS analytical software. SAS’ industry expertise is evidenced by long-term relationships with top insurers including Allstate, AXA Financial, The Generali Group, MBF Australia, Nationwide, Progressive, Royal & SunAlliance and Tapiola Finland. The insurance industry contributed more than 9 percent of SAS’ total revenue in 2002.
The applications included in the initial SAS Insurance Intelligence Solutions suite are SAS® Strategic Performance Management for Insurance, SAS® Marketing Automation for Insurance, SAS® Customer Retention for Insurance, SAS® Customer Segmentation for Insurance, SAS® Cross-Sell and Up-Sell for Insurance, and SAS® Claims Prediction for Insurance. Each application is driven by SAS’ extensive Intelligence Architecture, customized for the specific needs of the insurance industry.
SAS Insurance Intelligence Solutions are tailored to meet the unique needs of the insurance industry. As an example, SAS Marketing Automation for Insurance helps insurance companies maximize return from sales and marketing expenditures, resulting in improved customer acquisition and retention rates, increased long-term customer profitability, and enhanced company revenue. By developing comprehensive knowledge of customers, insurers can understand the profitability potential and claims propensity of their customers. In addition, insurance carriers can share the intelligence reaped from the SAS solutions with their intermediaries and other trusted partners to implement effective marketing strategies.
SAS Insurance Intelligence Solutions provide executives, managers, and front-line insurance personnel with the ability to support effective decision-making and enable a single, more strategic view of their customers and their own organization.
The announcement of the new SAS Insurance Intelligence Solutions came at the 28th annual SAS Users Group International conference in Seattle, attended by more than 3,500 SAS customers from around the world.
SAS is the market leader in providing a new generation of business intelligence software and services that create true enterprise intelligence. SAS solutions are used at more than 38,000 sites – including 98 of the top 100 businesses on the Fortune 500 – to develop more profitable relationships with customers and suppliers; to enable better, more accurate and informed decisions; and to drive organizations forward. SAS is the only vendor that completely integrates leading data warehousing, analytics and traditional BI applications to create intelligence from massive amounts of data. For more than 25 years, SAS has been giving customers around the world The Power to Know®. Visit us at www.sas.com/.
The Canadian subsidiary of SAS had been in operation for 14 years. Headquartered in Toronto, SAS employs over 167 people across the country at its Vancouver, Calgary, Toronto, Ottawa, and Montréal offices. For more information, visit www.sas.com/canada