Insurance

Solvency II's Impact will Affect Process Efficiency in Insurance

Author(s)

A WNS Whitepaper

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Key Points

Implementation of Solvency II is the biggest-ever exercise in establishing a single set of rules governing insurer creditworthiness and risk management
While Solvency II presents some strategic and tactical challenges, it also opens up new opportunities for insurers to innovate and adopt a well-thought-out approach for a successful implementation
Insurers who are agile enough to respond swiftly to the changing scenario will clearly be at a competitive advantage to outperform
Capabilities will have to be overhauled in the areas of internal models, risk management, IT and data and reporting compliance and disclosures

To Rationalize the Impact of Emerging Regulatory Trends on U.S. Insurers

Insurers in Europe are spending millions in order to comply with the impending Solvency II regulatory regime. This white paper elucidates how a robust risk management framework, effective data management systems and processes and an overall integrated approach will not only help in Solvency II compliance but also provide insurers with a platform for continuous process improvement and operational viability.

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