Solvency II Services

Solvency 2 (or Solvency ii) is the biggest ever exercise in bringing together insurers and reinsurers under one regulatory regime – and by the year 2012, every EU/EEA country will have a single set of rules governing what constitutes an acceptable level of insurer creditworthiness.

Solvency 2 aims to deepen integration insurance market, improve  international competitiveness and promote better regulation, by aligning capital requirements to each company’s risk profile with emphasis on ERM and establishing an integrated risk-based approach to supervision

If you are worried about Solvency II, don’t be.

The implementation of Solvency II should not be seen as a compliance exercise but rather an opportunity to build a more effective way of running a company. Insurers who embrace this idea early on stand to gain a significant competitive advantage.

Only by addressing Solvency II early will synergies with existing initiatives such as FSA’s INSPRU and IFRS be fully exploited. Firms which are proactive and prompt in assessing their readiness for Solvency II and addressing the gaps in their existing approaches, processes and systems will gain competitive advantage amongst their peers.

This is why we have developed a bolt on to our award nominated Risk Frameworker.  By adding a Solvency II specific section we have developed the perfect tool to help you disclose your capital and risk frameworks, whilst also demonstrating how and where they are embedded in your wider activities. This is a high level tool which will show you where you need to concentrate resources, therefore potentially saving you money.  It is also acts as a data repository meaning you can evidence your activities to both the board and the FSA at the touch of a button.

Do not get left behind, you need to start now to ensure you model is approved in time;  October 2012 is not that far away!

Call us  on 020 7645 8808 or email info@theconsultingconsortium.com to see how we can help you.