NEW DELHI: General insurance company Shriram General Insurance (SGI) has partnered with SAS, a leader in analytics and AI solutions, taking a strategic step towards adopting technology-driven solutions.
To keep up with the latest technological advancements in the insurance industry, Shriram GI sought a solution that would not only address its current needs but also provide a solid foundation for future growth and innovation. The company identified several key areas where technology modernization was essential to stay relevant, including managing analytical workloads, complying with regulatory reporting requirements, and ensuring accuracy and efficiency of actuarial analysis. These obstacles were preventing the seamless integration and analysis of data, impacting operational efficiency and strategic decision-making processes.
To address these challenges, Shriram GI chose to leverage SAS Viya as its cross-domain AI and analytics platform. SAS Viya serves as the core platform for handling actuarial workloads and analytics, expediting processes with increased efficiency and accuracy. It also streamlines regulatory reporting measures, enabling seamless compliance with IRDA and other regulatory body requirements.
SAS Viya was built on SAS’ own platform with Hosted Managed Services (HMS). This private cloud gives Shriram GI one-stop ownership and continuous uptime. Shriram GI also plans to leverage SAS Viya for analytical underwriting, which uses data-driven insights to make informed decisions in risk assessment and policy issuance. SAS Viya will also help drive innovation with its AI model building capabilities.
Anil Kumar Aggarwal, CEO, Shriram General Insurance said, “As a leading player in the insurance industry, it is imperative for us to stay at the forefront in terms of technology. Our partnership with SAS is in line with our technology modernization vision and reinforces our commitment to innovation and excellence.”
Noshin Kagarwala, vice president and managing director, SAS India, said, “We are pleased to partner with Shriram General Insurance on their technology transformation journey. SAS Viya’s advanced analytics and AI capabilities will help SGI unlock new opportunities for growth and differentiation in the fast-changing insurance industry.”
To keep up with the latest technological advancements in the insurance industry, Shriram GI sought a solution that would not only address its current needs but also provide a solid foundation for future growth and innovation. The company identified several key areas where technology modernization was essential to stay relevant, including managing analytical workloads, complying with regulatory reporting requirements, and ensuring accuracy and efficiency of actuarial analysis. These obstacles were preventing the seamless integration and analysis of data, impacting operational efficiency and strategic decision-making processes.
To address these challenges, Shriram GI chose to leverage SAS Viya as its cross-domain AI and analytics platform. SAS Viya serves as the core platform for handling actuarial workloads and analytics, expediting processes with increased efficiency and accuracy. It also streamlines regulatory reporting measures, enabling seamless compliance with IRDA and other regulatory body requirements.
SAS Viya was built on SAS’ own platform with Hosted Managed Services (HMS). This private cloud gives Shriram GI one-stop ownership and continuous uptime. Shriram GI also plans to leverage SAS Viya for analytical underwriting, which uses data-driven insights to make informed decisions in risk assessment and policy issuance. SAS Viya will also help drive innovation with its AI model building capabilities.
Anil Kumar Aggarwal, CEO, Shriram General Insurance said, “As a leading player in the insurance industry, it is imperative for us to stay at the forefront in terms of technology. Our partnership with SAS is in line with our technology modernization vision and reinforces our commitment to innovation and excellence.”
Noshin Kagarwala, vice president and managing director, SAS India, said, “We are pleased to partner with Shriram General Insurance on their technology transformation journey. SAS Viya’s advanced analytics and AI capabilities will help SGI unlock new opportunities for growth and differentiation in the fast-changing insurance industry.”
