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Software/IT Systems/solutions, Data, Modelling

Enterprise Risk Management Technology Guide 2012-13

Financial modelling software maintains its dominance in the new ERM Technology Guide, as it did in last year's, but there is now more emphasis on enhanced computing performance (especially through cloud services) to respond to the intensive and much more frequent capital calculations required under Solvency II. As the standard formula calculation has become more complex, several vendors have also included in their offerings a solution dedicated to that. At the same time, the focus on pillars 2 and 3 of Solvency II evident last year has also become more marked, with a lot of vendor effort going into providing different forms of governance and reporting requirements, including solutions for the own risk and solvency assessment (ORSA) and integration of the different types of internal and external reporting that insurers will be required to perform.

Corporate statements

News

Prophet to interface with GEMS

SunGard's modelling software connects with Conning's economic scenario generator

Austrian insurer licenses Conning ESG

Uniqa Group takes GEMS to support modelling with LSMC

PRA outlines three-act data review process for SII

Guidance on data is "very thin", Dean Buckner says at IERM conference

Emirates Insurance Company buys Agencyport risk tool

To use in its newly established international division

Data governance is vital focus for industry

London conference will address issues around data management and the demands of Solvency II

RMS to phase out RiskLink in 2019

RMS opens platform to third-party cat modellers

Conning and Ramius pair up to provide hedge fund strategies for insurers

Ebix buys Qatarlyst

Towers Watson releases Igloo 4.2 upgrade

Conning to expand research business

Insurance IT spend to total $140bn in 2013

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Analysis

Delivering on pillar 3 reporting

The reporting element of Solvency II has been brought back into insurers' minds by recent regulatory developments. In a SAS/InsuranceERM webinar, HSBC UK and Gjensidige explained how they are going about it. Christopher Cundy reports

How to automate spreadsheet processes

Insurers can reduce costs and errors with new spreadsheet-specific workflow technology, while avoiding any impact on the spreadsheet logic, as Adrian Maconick explains

Risk analytics grows in importance for insurers

Insurers agree that risk analytics has improved their decision-making and risk monitoring, but not many assess their risk analytics capabilities as leading edge, according to a survey from Accenture. Here, InsuranceERM summarises notable findings of the report, including insurers' sizeable investment plans and a lack of model maturity confidence

Cloud, standard formula and GRC solutions gain traction

Financial modelling software dominates the new ERM Technology Guide, as it did last year's, but there is more emphasis this year on enhanced computing performance, standard formula solutions and governance, risk and compliance

How to integrate financial and regulatory reporting

As existing financial reporting technologies get extended to regulatory reporting, Mike Andrews and Martin Sher look at the challenges of integrating the two reporting regimes within a unified system

LV= aims at major revamp of its actuarial systems

The UK's largest friendly society isn't waiting for Solvency II to overhaul its actuarial processes and systems. It's already well into the project, despite also being in the middle of preparing an application to the FSA for an internal model

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