Firms urged to use Orsa to generate business value

Assessment should be integrated in management planning

Financial report

Insurers must integrate their Solvency II Own Risk and Solvency Assessments (Orsas) into their management planning if they are to generate value for their business and policyholders, delegates heard at Insurance Risk's Nordics conference in Stockholm.

Despite the stipulation of the Solvency II directive that a firm's Orsa must be "an integral part of the business strategy… taken into account on an ongoing basis in the strategic decisions of the undertaking", in practice, this is seldom the case,