Munich Re Makes the Optimum Use of SAS Analytics Software to meet its Big Data Strategy
CARY, NC: Munich Re, a reinsurer with the support of SAS Analytics software to meet its big data strategy. The business units and specialist departments of the company will be utilizing the analytics platform for analyses, forecasts, simulations and pattern recognition.
The procurement and analysis of data from complex contracts is automated by the system claiming notifications. Munich Re will be benefiting from the huge amount of data access which will significantly elevate its ability to innovate, using big data analytics from SAS to function as an engine for new, custom-tailored offerings.
The solution functions by accessing a number of different external and internal data sources from the SAS Analytics platform. The deployed in-memory technology facilitates interactive analysis of even the humongous amount of data to locate unrecognized correlations. When it comes to database processing, the data models developed and managed within the platform can run directly in the database where the analysis is done in SAP HANA or on the open source framework Hadoop. This allows the company to examine massive quantities of unstructured text data.
"The key success factor of our data analytics activities is a significant added value for our customers," comments TorstenJeworrek, CEO, Munich Re. "With these new technologies, we are considerably enhancing our global ability to combine our customers' data with our own findings and expert knowledge."