Company: IBM Business Analytics
Category: Solvency II
Published: 07 May 2014
How can you stop seeing regulatory change as an obstacle, and start seeing it as an opportunity?
As regulators in the insurance sector increase their focus on risk management, insurers need to respond quickly to put new systems and processes in place. Many have taken a bare-minimum, box-ticking approach to compliance; but Legal & General's philosophy has been quite different.
By treating the modelling requirements of the EU Solvency II Directive as an opportunity to enhance its risk management capabilities, the business has built a solution that delivers value far beyond the scope of compliance.