Solvency II reporting compliance is challenging insurers, survey finds
Reliance on third parties for critical data is key issue
Meeting Solvency II's reporting requirements has been highlighted as a major challenge by insurers in a survey on their preparedness for the forthcoming European solvency regime.
Other key challenges revealed by the study were a reliance on third parties for risk modelling and other critical data requirements.
Difficulties in sourcing data of sufficient granularity in relation to complex investment products and funds was also highlighted, in the research conducted by BNP Paribas Securities
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