Facing the Solvency II technology challenge
The final shape of Solvency II has not yet been decided, but it is clear that whatever the result insurers will need to upgrade their technology and data-gathering approach. Clive Davidson examines how Europe’s leading insurers are meeting this challenge
Solvency II raises the bar for insurers in terms of the quantitative analysis and qualitative processes and controls they must have in place. In almost every case, the new directive demands that companies must upgrade their operations. However, there can be a danger if companies rush ahead to deal with headline issues without looking at the wider implications, particularly in terms of technology and data. A more sensible approach is to do a detailed assessment of current capabilities and what
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