Chartis, a provider of property-casualty and general insurance organization, has turned to analytics from SAS, a provider of business analytics software, to estimate the risk of future losses and help underwriters assess insurance risk.

Chartis has also used SAS analytics to reconcile claim payments and estimate the need for bad-debt reserve funds related to premium receivables.

Chartis’ Strategic Risk Analysis Group also used the analytics to tackle the difficult task of catastrophe planning.

To ensure that funds are accurately accounted for in the company general ledger, the analytics team built an automated reconciliation tool using SAS.

Chartis’ Strategic Risk Analysis Group used SAS analytics to build probability-based exposure models to estimate bad-debt reserve for uncollected premium receivables based on open balances across multiple lines of business in a financial accounting project.

Chartis’ Strategic Risk Analysis Group, under the direction of Savage and assistant vice president David Lee, has focused its use of SAS analytics on three specific areas: executive liability insurance, catastrophe modeling and financial accounting.

Lee said in an 18-month period, they used a Web-based modeling tool available from SAS to target $14m in new executive liability business, representing 100% growth in that segment.

"In addition, the modeling tool enabled us to avoid a potential loss of $75m from certain executive liability accounts over the course of a year," Lee said.