Case Study: Hiscox achieves complete global risk visibility in minutes with SAS Analytics

Hiscox uses analytics to ensure against worldwide risk

Hiscox, a global insurer with diverse lines of business—from US windstorm exposure to fine art and specialty risks—needed a consistent group capital model to understand how more than 100 business lines and expanding international operations interact. Increasing data volume and model complexity meant previous attempts took up to a year and couldn’t support timely refreshes or rapid scenario analysis.

By deploying SAS Analytics and SAS Visual Analytics to pull simulation outputs from disparate models without duplicating effort, a four-person team built the group capital model in three months; updates now take 15 hours and answers to complex risk and capital scenarios can be produced in about 30 minutes. The solution lets Hiscox analyze over 10 million simulated data points (from 100,000-year runs), explore multiple scenarios, and make faster, better-informed decisions about capital allocation and business growth.

Hiscox

Jason Doughty

Head of Economic Capital