Ydrogios Insurance Trusts SAS for Data Quality, Greater Efficiency

ATHENS, Greece, Nov. 19 -- SAS Institute issued the following news release:

Among the most dynamic and fastest growing insurers in Greece, Ydrogios Insurance is ensuring paramount data quality with SAS DataFlux Data Management (http://www.sas.com/software/data-management/index.html). When Ydrogios Insurance needed to automate its data environment for greater business and operational efficiency, the insurer turned to business analytics (http://www.sas.com/businessanalytics) leader SAS. Fully localized in the Greek language, SAS' quality Greek knowledge base delivers an important competitive advantage.

SAS' integrated data management platform enables Ydrogios Insurance to perform data integration, data quality and master data management projects through a single interface. The company believes better data management significantly strengthens its customer-centric strategy by consolidating customer data and offering a single view of the customer. With more accurate customer profile management, insurance products and services are better tailored to customers' needs.

SAS DataFlux Data Management will help Ydrogios Insurance prepare for Solvency II compliance, which requires auditable, traceable, transparent and reliable data. In addition, data mining drives better and more detailed decision making for the insurer, particularly regarding product pricing and stock assessment. Ydrogios Insurance appreciated the ability to add additional solutions, such as claims fraud detection and prevention, when needed.

"SAS fully understood our company's needs. They showed absolute professionalism and understanding of our issues, and were fully committed to collaborating with us for a smooth implementation," said Paul Kaskarelis, Vice President and General Manager of Ydrogios Insurance. "SAS has strong and innovative expertise in data quality, and insurance fraud detection and prevention. SAS' data management solutions for the insurance industry have won major awards from international analysts."

In addition to the benefit of Greek language localization, SAS is customizable to the needs of the Greek insurance organizations, with detailed reports creation, assistance with Solvency II compliance, and network performance monitoring of insurance partners, premiums per contract, and collections per customer.

"We welcome Ydrogios Insurance, one of the most dynamic Greek insurance companies, into our family," said Nikos Peppas, SAS Country Manager Greece and Cyprus. "This solution is the result of many years of SAS experience and expertise in the insurance industry with hundreds of deployments worldwide. We are absolutely confident that we will help optimize Ydrogios Insurance's performance, providing significant benefits for the company, its partners and its customers."

See how SAS DataFlux Data Management was recently positioned in the Leaders quadrant in Gartner Inc.'s latest Magic Quadrant for Data Quality Tools (http://www.sas.com/news/preleases/dqmagicquadrant.html) 1 report. Or read Gartner's Magic Quadrant for Data Integration Tools (http://www.sas.com/news/preleases/magic-quadrant-data-integration.html) 2 where SAS was also positioned as a leader.

ABOUT YDROGIOS INSURANCE

One of the most dynamic and fastest growing Greek insurance groups, Ydrogios has operated in the Greek market for four decades. With revenues in 2011 of 148.5 million euros (US$192.2 million), the company consistently ranks among the top five general insurance companies in Greece and, since 2002, has built a strong presence in Cyprus with the establishment of its subsidiary "Ydrogios Insurance Company (Cyprus) Ltd." Ydrogios serves more than 500,000 satisfied customers in Greece and Cyprus. It has developed a wide distribution network supported by 13 ultramodern branches and offices in major cities of Greece and Cyprus. It has 262 employees and works with more than 2,200 insurance brokers.

1. Gartner Inc., Magic Quadrant for Data Quality Tools, Ted Friedman, August 8, 2012.

2. Gartner Inc., Magic Quadrant for Data Integration Tools; Eric Thoo, Ted Friedman, Mark A. Beyer; Oct. 18, 2012

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