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Solvency II - Anticipating issues, capturing benefits | Brochure


Solvency II challenges...

Solvency II - Anticipating issues, capturing benefitsSolvency II is a major and significant reform for the insurance sector. It will have deep and long-lasting impacts on the way insurers look at risk : how they identify and anticipate it; how they measure it; and how they manage and mitigate it.

Solvency II opens new questions, which will force many insurers to revisit significant elements of their business models and reconsider the way they operate. For example: how to compete in the market place, taking advantage of the new solvency principles (such as diversification); how to structure their business (e.g. under a group holding, through joint ventures, by outsourcing major operations, etc.); and how to organise the decision-making process about risk-taking.

Finally, getting there will not happen overnight. Insurers may have managed insurance and financial risks for many years, but Solvency II changes the reference for risk management – it is not just about marginal improvements. The Solvency II project will need to overcome several challenges : driving a large project to completion while the underlying regulation is still moving; improving the quality and traceability of the data that feed the risk management processes; implementing the tools to measure risk (be it a standard formula or a more sophisticated internal model); embedding the risk management culture in the insurer’s organisation; and fostering the cooperation of stakeholders with complementary points of views about risk throughout the process.

In short, a few words summarise what implementing Solvency II means: cross-competency expertise, anticipation, pragmatism, collaboration, excellence, rigorous analysis and relentlessness in the pursuit of Solvency II opportunities.

... joined by the expertise of Deloitte

Our Solvency II experience and expertise:

A strong and multi-competency EMEA team.

With our Global / European footprint and our pan-European research and market watch network, we are in a unique position to provide our clients with insight and anticipation in addition to lessons learned from our Solvency II projects.

We are recognised for our collaborative style, a real asset when it comes to weaving various competencies and profiles into a single project.

We are used to conducting major regulatory deployments for multinational and local Financial institutions.

We consistently receive high ratings from analysts and clients for our ability to help them shape and execute their strategic vision. Many large European insurers already trust us to assist them on the path to Solvency II.

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