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solvency ii

Insurance

Benefit from our years of experience

We have advised insurance companies for many years on questions of risk management, the evaluation and management of financial instruments, actuarial issues as well as the planning and implementation of IT architectures. We have experienced teams of actuaries, financial engineers, risk management and IT specialists available to help you. This enables us to provide you with comprehensive advice from preliminary studies and detailed specifications through to technical implementation and the roll-out of solutions in your company. Feasibility is at the heart of our consulting approach, and this covers technical and regulatory requirements as well as cost and organisational implications.

Effective implementation of Solvency II and MaRisk VA (German minimum requirements on risk management)

Over the last few years, much of our work has revolved around Solvency II, and we have been able to provide extremely wide-ranging support to our customers. This has involved:

  • Establishing and validating internal models and preparing them for testing by the regulator (we have experience of working with the German and other international regulators).
  • Using the standard formulae as part of QI studies and anchoring them into your infrastructure and processes.
  • Analysing the impact of Solvency II on corporate management, capital investment and product design and developing appropriate tools for the future.
  • Implementing the requirements associated with third pillar disclosure obligations in the form of specific project plans and IT architectures.
Successful product development and capital investment

At d-fine, actuaries and financial engineers work hand in hand to help our customers develop new products and the corresponding hedging strategies. On the capital market side, we can draw on years of experience of working with banks, asset managers and hedge funds. We cover subjects as wide-ranging as variable annuities and the use of CPPI strategies in insurance products. We can also help you to analyse your IT infrastructure requirements.

Tailored IT infrastructure

All too often, IT projects are dominated by technical issues. Unfortunately, from the perspective of individual business divisions, this can lead at best to a less than ideal solution. At d-fine, we ensure that technical solutions comply with your specifications without losing sight of what is technically feasible when formulating those specifications. To ensure that this happens, our consulting teams are selected on the basis of both their industry and technical expertise. If required, they can call on additional expert support.

Why not put our experience to good use in your organisation? Call us now to arrange a no-obligation meeting with our specialist consultants.

References insurance

Implementation of Solvency II - national insurance group
Project objectives

Design the company's Solvency II solution and implement technical and organisational solutions:

  • Analyse the Solvency II implementation options, particularly the selection of an internal or partial model based on the capital requirements.
  • Design the internal model and the associated technical architecture (SAS RMfI).
  • Project management, implementation of solution and preparation of acceptance procedures.
  • The overall project includes the implementation of column 3 requirements, for which a gap analysis has already been completed.
Tasks assigned to d-fine
  • Planning and operative management of the overall project.
  • Design of internal models for market risks and indemnity/accident insurance.
  • Customisation of the SAS RMfI application and programming of additional modules.
  • Integration of the software with upstream and downstream systems.
  • Gap analysis and planning of further action in relation to column 3 requirements.
  • Assistance in communicating with BaFin (German Financial Supervisory Authority).
Implementation of Solvency II - International insurance group
Project objectives

Support the company's Solvency II project including design and implementation of overall target process landscape:

  • Design the target IT architecture including use of different software components and the procedural and organisational processes within the internal model.
  • Project management, design and implementation of solution including preparation for approval by BaFin.
  • The overall project includes the implementation of the column 3 requirements, for which a gap analysis is currently being performed.
Tasks assigned to d-fine

Organisation, technical leadership and presentation of training sessions with the following content:

  • Sub-project management for columns I subjects.
  • Integration of individual software components with upstream and downstream systems (databases, interfaces and reporting).
  • Automation of manual stages of work to ensure that the (data) quality, including the associated documentation (specialist and IT concepts), conforms with Solvency II.
  • Gap analysis and planning of further action in relation to column 3 requirements.
  • Support with the preparation of BaFin meetings / presentations.