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24 February 2016
European Reliance has chosen SAS as strategic partner in its effort to fight insurance fraud
European Reliance entrusts SAS Greece, Cyprus and Bulgaria as strategic partner invests in their credible solutions for managing and fighting against insurance fraud.
Through the adoption of the SAS Fraud Framework for Insurance and SAS Visual Analytics solutions, European Reliance manages to safeguard and protect the Company΄s own assets as well as the extensive Sales Network, while the goal is to update and automate all internal processes of the Motor Claims Sector.
All of the above shall be achieved through the advanced analytics mechanism which utilizes multiple technics such as predictive modeling, text mining, data base search, automated business rules, problem identification and network rules which shall help detect fraud. Through this particular mechanism, European Reliance improves and maximizes its means of discovering fraud, achieves a fully-automated claims΄ management process, decreases the Loss Ratio, improves its competitive advantage, offers better customer service and increases its market share in the Greek market.
Mr. Nikos Chalkiopoulos, Vice-President of BoD and Portfolio Manager stated: "Managing and fighting fraud is an issue of paramount importance that we must handle in the short and long term. Our partnership with SAS, is a strategic business decision which shall offer a required level of safety and protection against fraud and will improve our analytics skills. We are confident that the adoption of the SAS Fraud Framework for Insurance and SAS Visual Analytics solutions will give European Reliance the much-required competitive advantage in order to respond adequately and successfully to the insurance market΄s contemporary needs and demands".
Mr. Nikos Peppas, SAS Country Manager for Greece, Cyprus, Bulgaria stated: "It is a great pleasure and also a sense of responsibility to welcome the collaboration with European Reliance. Beyond any doubt, it is a real honor to feel that European Reliance trusts the qualitative solutions and skillful people of SAS. Investing in particular solutions shall enable the company to fight fraud and reinforce its competitive advantage".