Solvency II will come into effect on 1st January 2014. Are you ready?
DataFlux and SAS currently have 37 Solvency II insurance clients across Europe and are well placed to offer advice and support with Solvency II implementation challenges. We would like to invite you to join our risk and solutions teams for a Solvency II briefing that will examine the challenges facing insurers – and how to meet Solvency II requirements.
This briefing will couple the presentation of a current live Solvency II initiative with headlines of the Solvency II requirements outlined below. The event will also give delegates the opportunity to ask questions, network with peers and view hands-on demonstrations of the DataFlux technology that can provide the foundation for a Solvency II programme.
Event Dates and Locations: Date: Tuesday, 15 May 2012 Time: 9.00 - 11.45am Venue: The Cumberland Hotel, London Great Cumberland Place, Nr. Marble Arch London W1C 1LZ
Date: Thursday, 17 May 2012 Time: 9.00 - 11.45am Venue: Hallmark Hotel Manchester Nr Manchester Airport, Stanley Road Handforth, Wilmslow, Cheshire SK9 3LD
The headlines of Solvency II requirements:
– The directive requires data to be ‘accurate, timely and appropriate
for all stakeholders, across actuarial, risk and financial functions’.
– Insurers are required to produce an accurate Solvency II balance sheet and to calculate a Solvency Capital Requirement (SCR) that reflects all the risks taken across the company.
Risk management – Solvency II standards
and ORSA (Own Risk and Solvency Assessment) must be calculated and
managed in a consistent manner so that insurers produce a complete risk
profile that is both compliant and strategically valuable.
– Insurers need to be comfortable that they can demonstrate compliance with Solvency II to the FSA and that the company’s Governance, Risk, Compliance, Audit and Actuarial functions are effective at managing and mitigating the risks that the company takes.
Reporting – While complete details are forthcoming insurers need to produce more reports more rapidly than ever before. The technical demonstration will show:
Data discovery and the creation of collections of data sources
Writing business rules for Solvency II controls
Setting up and running data monitoring processes
Solvency II reporting/dashboards
Data standardisation and de-duplication
9.00am Registration and networking
9.30am Joint presentation: Ecclesiastical Insurance (at London event only) Explanation of the FSA’s Solvency II Directive and how to ensure your data is Solvency II compliant
10.15am End user presentation: The challenges, implementation and results of a Solvency II data management programme
11.00am Networking and hands on technical demonstration
11.45am Event close Who should attend:
Solvency II data governance directors
Solvency II data managers
Chief insurance risk officers
Heads of solvency projects
Heads of risk management
Heads of insurance risk
Chief risk officers
*There is no entry fee for this event, but you must register in advance as spaces are limited. Once we receive your registration, a member of the team will respond to confirm your place within three working days. Please ensure that the contact details you provide are correct so that the team can confirm your place.