Solvency II impacts people, process and technology in finance, technology, and management. To evaluate these changes, organizations can employ the ‘Service Delivery Model,’ ‘Governmance and Integration Framework,’ ‘Organizational Model,’ ‘Process Model,’ and ‘Technology and Data Architecture.’
What is Solvency II?
Solvency II is an updated set of regulatory requirements for insurance firms that operate in the European Union. Targeted for Jan 1, 2014, Solvency II will focus on establishing a consistent way to measure risk and maintain adequate capital requirements across the European insurance market place. The Quantitative Impact Study 5 (QIS5) provides the most recent basis for content as insurers prepare.
Pillars of Solvency II
Is your company ready for Solvency II? To learn more, check out Ranzal’s free webinar recording here.