Good documentation central to model approval, say supervisors

Standard-forumula firms also face more stringent requirements


It goes without saying that a model for something as important as calculating solvency capital should be well documented. However, all other assumptions to do with an internal model for Solvency II – or the application of the standard formula for that matter – must also be spelled out clearly in the documentation that accompanies it. The directive demands far more than a user manual that is occasionally dipped into for operational instructions or troubleshooting. As insurers progress through the

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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