Roundtables
Seeking a firm footing in the shifting sands of pillar 3
The interim guidelines have added urgency to insurers' preparations for the reporting elements of Solvency II. In the first part of this InsuranceERM and Invoke roundtable, participants discuss how they are approaching the challenges
Tussling with taxonomies in pillar 3 reporting
Insurers are having to learn fast about the technicalities of Solvency II data taxonomies and XBRL reporting, as participants in the second part of this InsuranceERM and Invoke roundtable report. They also discuss reporting on assets, the remaining uncertainties – and what they would have done differently
Capital models
Are models more complex than they need to be?
This was one of the issues addressed by participants in an InsuranceERM roundtable discussion, sponsored by Aon Benfield's ReMetrica. Also covered in part one of our report are some of the benefits of using capital models, involving and educating the board, and technology issues
Embedding the capital model in the business
Differing approaches to making the model an integral part of day-to-day business operations emerged at the recent InsuranceERM roundtable discussion, sponsored by Aon Benfield's ReMetrica. Also covered in this second part of our report are the constraints and limitations of models, as well as their governance and validation.
Managing operational risk
Operational risk: is quantification or control more critical?
Assessing likely losses from operational risk is an improving area but still subject to many imponderables. So building a strong control framework and the right culture to identify potential problems is equally important for re/insurers, concluded participants in a recent InsuranceERM roundtable in collaboration with Thomson Reuters Accelus
Managing operational risk is about good business practice
However much attention is devoted to loss data, modelling, KRIs, risk appetite and other operational risk issues, most of what an insurer needs to do in this area should already be part of the way it runs its business. This theme ran through the second part of the recent InsuranceERM roundtable in collaboration with Thomson Reuters Accelus
Operational risk
The best approaches to monitoring and managing operational risk
Operational risk cuts across all aspects of insurers' businesses and developing a full picture can be challenging. In InsuranceERM's roundtable discussion in collaboration with Thomson Reuters Accelus, experts shared their views on the basic definitions, overlaps with conduct and reputational risk, risk frameworks and assessments, loss reporting and modelling.
Strategic risk
Shaping up on strategic risk
It's a risk that every insurance company faces, yet the common ground is sometimes hard to find. In part one of this InsuranceERM/Towers Watson roundtable, risk managers discuss what strategic risk means to them, the value of risk labels and the influence of regulators