ClusterSeven: Spreadsheet Control And Management Is Core To Solvency II Compliance
Insurers are undertaking actuarial transformation, as they move from manual processes to IT-led production systems to modernise and standardise modelling platforms as well as manage risk data. According to CEB TowerGroup Insurance, this approach will lower the operational risks of insurers as regulation tightens. However, a report by the research house reveals that many insurance firms are still struggling to meet both quantitative and qualitative requirements set in Solvency II. 76 per cent
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