Analysis

Justice Committee's Ogden advice raises fear of further delay

MPs have told the government it must face the "real world" when implementing the new personal injury discount rate. But its recommendations may cause more delay to the process, and pain for insurers as the industry tussles with making appropriate assumptions. Paul Walsh reports

Blockchain confronts the valley of death

Blockchain technology has proven applications in the insurance sector, but can it fulfil its promise to revolutionise the business? Paul Walsh investigates the questions around standards, costs and risks for this emerging technology

CROs discuss - do we even need a risk team?

Ensuring an appropriate risk culture is an important but sometimes hazy activity for a risk team. At InsuranceERM's recent conference, a group of CROs discussed some of the issues and challenges they face in achieving a good risk culture

Economic capital: the solution to two big insurance problems

Using economic capital metrics makes for better business decisions and improves the wider understanding of profitability in the insurance sector. The opportunity is not to be missed, argue Gez Llanaj and Assad Shah

Eiopa's Fausto Parente: convergence is the remedy for regulatory arbitrage

The executive director of the EU's insurance authority discusses its new powers, Brexit, supervisory convergence, insurtech and sustainability in this interview with Christopher Cundy

Insurers downbeat on proposed Solvency II reforms

Eiopa has completed its first major review of Solvency II and, on the biggest issues, its proposals have not gone down well. Christopher Cundy reports

Cyber risk: a practical approach to making risk-based decisions

Insurers need a joined-up approach to managing cyber risk if they are to make the most of digital opportunities while avoiding the threats of cyber attacks and data loss. Crowe Horwath's Justin Elks proposes four steps to achieve this

A transparent approach to the SFCR

Denmark's Industriens Pensionsforsikring went the extra mile in completing its solvency and financial condition report (SFCR), providing historical data and putting the quantitative information into context. David Walker asks chief risk officer Pernille Jul Overby why she opted for more work

IAIS faces fresh debate on systemic risk – and clash on capital standard

The International Association of Insurance Supervisors meeting in Kuala Lumpur this week comes amid a renewed debate about systemic risk in insurers and big questions about the deadlines for developing a global capital standard. Christopher Cundy reports

NN's Jan-Hendrik Erasmus: "the key issue is how to embrace technology"

NN Group's chief risk officer discusses with David Walker how the Dutch insurer is positioned for M&A, why Solvency II does not need to change, longevity risk hedging and today's technology and cyber challenges

Hurricane loss estimates: clawing for credibility

Cat modellers' loss estimates following this year's major hurricanes were surprisingly far apart. Christopher Cundy asks if the sector is doing the right thing

Unipol's Renzo Avesani: balancing risk and innovation

Renzo Avesani holds the positions of chief risk officer and chief innovation officer at Unipol – a unique combination at such a large insurer. He tells Cintia Cheong about the firm's latest initiatives and how it is adapting to life under Solvency II

Innovative risk modelling key to tackling emerging technology risks

The World Economic Forum has called for urgent innovation in risk modelling and said rapid global collaboration is crucial to dealing with the risks from new technology. David Walker reports

View from the Top: The next crisis, counter-cyclical business models and pro-cyclical valuations: What's to be done?

In this instalment, Tom Wilson, chief risk officer for Allianz, reviews the implications of a financial market correction for the industry and makes some recommendations on how risk, capital and value should be managed

UK insurers play it cool on Part VII transfers

Brexit is expected to cause a rush of requests to transfer insurance contracts between businesses. But so far, there has not been a deluge of Part VII applications. Paul Walsh reports

BaFin pulls no punches in explaining Orsa shortcomings

Germany's regulator has said insurers must improve virtually all aspects of their Orsa reporting for 2018. David Walker reports

Where next for economic scenario generators?

Insurers have for decades relied on economic scenario generators (ESGs) in their risk modelling, asset management and business steering. Christopher Cundy investigates what the next big developments might be in this important piece of modelling software