Insurers lack confidence in Solvency II data
Only 21% are highly confident about model data quality
Only 21% of insurers say they are "highly confident" about the quality of data being used for their internal models under Solvency II requirements, according to a survey by the Institute of Risk Management (IRM).
"There's clearly a problem with model data quality," says Alex Hindson, chair of IRM and head of group risk at insurance underwriting firm Amlin. "That's got to be a little bit of an issue, especially as 71% of the sample are going for a full internal model."
The quality and consistency
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