Regulation drives demand for technology
The use of technology is overwhelmingly being driven by the demands of regulation – Solvency II for insurers, and national regulations for pension schemes. Clive Davidson reports on how firms are changing regulatory requirements into a business benefit
When insurance companies talk to their technology vendors these days there is one overriding theme to their conversations – Solvency II. The demands of the proposed legislation in terms of quantitative measures of risk and calculations of solvency capital, as well as the Pillar II and III requirements for governance and risk management and disclosure and reporting, present a range of challenges for which companies require substantial technological support.
The technology vendors are responding
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