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Solvency II mandates that insurers appoint an Actuarial Function Holder to manage technical provisions, data quality, testing against experience, underwriting and reinsurance opinions, and annual reports. However, many insurers lack the internal resources to discharge this function using existing staff and without creating conflicting duties. Milliman can fill this role in flexible ways to meet your specific needs, whether working with calculations produced by your staff or providing an end-to-end service. We put appropriate control structures are in place to demonstrate the independence of the Actuarial Function and to ensure that conflicts of interest are avoided.
The EU Solvency II directive is more than a technical change to capital calculations: it transforms how insurers do business across pricing, underwriting, valuation of liabilities, risk management, asset management, internal and external reporting, and more.
Milliman has been involved with Solvency II since the beginning and can help you manage and optimize how you interact with the directive. Our complete suite of innovative software solutions simplifies and automates the production of calculations and helps you make the right decisions to succeed.
This briefing summarises key references and considerations for the actuarial function in Ireland.
The Milliman Market Practice Survey series examines aspects of market practice within the Irish insurance industry.
This briefing note summarises EIOPA’s October 2019 consultation paper on its opinion on the Solvency II 2020 review.
Streamline Solvency II compliance with a multi-user, multi-site tool for Standard Formula SCR and quantitative reporting templates.
Milliman Mind is a flexible and easy-to-use web-based platform which automatically converts Excel spreadsheets into more powerful models.
Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.
Assess capital requirements under a wide range of frameworks and get effective strategic advice on how to manage capital.
Use capital more efficiently to protect against financial risk and comply with growing rating and regulatory requirements.
Embed ERM best practices into your organisation to create a structured and sustainable business management process.
Uncover valuable information hidden in your data, allowing you to take action on key business insight.
Get help with the actuarial aspects of financial exams, rate filing, and model reviews related to catastrophic risk.
Manage Solvency II implementation across pricing, underwriting, risk management, reporting, and more.
Improve risk selection, pricing, and profitability with comprehensive underwriting services and data.
Select insurance-related technology solutions that solve your key challenges and make the most of data.
Ask the tough questions. We’re ready for them.