A major UK insurer needed to produce fast, easily-accessible, ‘Box Management’ data to provide an accurate position of the company’s total liabilities at any given time in order to minimise its market exposure.
‘Box Management’, is a term used to describe the accurate calculation of a company’s total exposure by monitoring and controlling the difference between total liabilities and total assets. The ‘box position’ should ideally be zero, but in reality, zero exposure is rarely practicable, although every company strives to achieve it.
The impact of not controlling this box management process properly is extremely damaging.
SAS® software was the chosen vehicle to handle extracts and visualisation from the company’s massive data store, which encompasses four months’ rolling data covering all aspects of the company’s life and pensions operation and Base 3 Systems were selected for their specialist expertise in delivering high quality services and solutions to the financial services sector.
The results and benefits
The final design incorporated a client/server architecture in which SAS® software was used to download and summarise mainframe-based data for subsequent visual presentation on the end user’s desktop.
Fund managers, actuaries and accounting systems personnel are able to ‘drill down’ and interrogate the Box Management System to one of three increasingly detailed levels using standard, pre-defined, ad hoc and audit reports. To ensure data integrity, information will travel in one direction only – users cannot update records in the data store.
The Financial Reporting Manager said ‘We’ve been happy with the Box Management System performance overall, but of course, as with all things in life, our tolerance levels seem to drop proportionately as system performance continues to improve!’
Key benefits of using the SAS® System
- Ease of maintainability
- Ability to span hardware platforms and software environments
- Ability to manipulate large volumes of complex data
- Confidence that the software will perform
Key benefits of using Base 3 Systems
- Expert understanding of the SAS® System within the performance constraints
- In-depth understanding of the Financial Services Sector
- Fully-equipped off-site Application Development Facility staffed by highly
- experienced consultants in SAS and IT
- SAS Alliance Silver Partner