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Subscribe nowFrance most likely to be victorious, says Actuaris
Both users and vendors of risk management systems have faced difficult decisions as a result of the further delay in Solvency II implementation. We look at the opportunities and problems created by this and issues such as: do faster systems have to be more complex, as well as more expensive, and will vendors offer more transparency into their models?
Insurers increasingly require highly robust stochastic models to obtain credible valuations of their outstanding claims reserves. This is particularly true for firms subject to the EU's Solvency II regulations. The Reversible Jump Markov Chain Monte Carlo method has many advantages over traditional approaches such as the chain ladder, say Marion Gremillet, Pierre Miehe and José Luis Vilar
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