Global insurance and reinsurance provider XL has decided to add SAS' Visual Analytics to help quickly visualize business data from internal and external sources to explore new ways of analyzing risk.
The visualization system will improve decision making and profitable growth, as the visualize business data will be customized especially for a business team, says the insurer.
XL Group strategic analytics head Kimberly Holmes said, "With SAS Visual Analytics, we intend to delve into more data in ways that were once unimaginable, to glean unique insights we can use to drive profitable growth."
"Data visualization will enable us to clearly communicate complex statistical insights to our colleagues and encourage more widespread use of analytics in business planning and decision making across XL."
The firm said that in the beginning it will employ SAS Visual Analytics to support its underwriters’ risk selection and strategic decision making with an aim to embed analytic decision management process and application systems across the organization.
XL Group, through its subsidiaries, offers property, casualty and specialty products to industrial, commercial and professional firms, insurance companies, and other enterprises around the globe.