Dongbu Insurance builds enterprise risk management system with SAS
[Johannesburg, 21 June 2011] -
Korean-based Dongbu Insurance selected SAS for Enterprise Risk Management, from the leader in business analytics software and services, to build a firm-wide risk management system and help address regulatory concerns such as Solvency II.Triggered by reinforced risk-based global regulatory measures for the insurance industry, Dongbu Insurance wanted to strengthen its risk management capabilities by securing risk data and systematic management.Dae-Hee Hwang, Director of Risk Management at Dongbu Insurance and implementation project leader, said: "Globalisation of the financial markets and development of financial methods have emphasised global risk regulatory measures such as risk-based capital (RBC), Solvency II, stress testing and public risk disclosure requirements. In order to respond quickly to these measures, it is necessary to reinforce the securing risk data and internal risk management capabilities. With this project, Dongbu Insurance will be able to achieve better investment results by optimising its future investment strategy. Also, they will obtain better risk-based evaluations and more business opportunities by utilising the consolidated risk management system."
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