Financial services

Tagetik roundtable on Solvency II

19 May 2011

Tagetik is to hold a virtual roundtable focusing on the new Solvency II regulations for financial institutions and the insurance sector.

Taking place at 11.00am GMT+1 tomorrow (20 May), the virtual event will bring together major European insurance groups to discuss how to face the demands of regulatory compliance with the right ICT solution.

“The goal of this round table is to dive deeper into Solvency II, statutory and management reporting requirements, and to discuss the technology implications and the investments needed to ensure compliance with a must-have ICT architecture,” says Manuel Vellutini, EVP chief operating officer at Tagetik.

He added: “Many insurance companies will need to put in place a framework for integrated risk and financial management and implement a proper IT platform to support such a critical move. That is why this roundtable provides an opportunity to understand the IT implications of Solvency II, learn about the regulator’s expectations of IT capabilities, and hear from leading insurance companies about how they plan to meet the Solvency II challenge.”

Solvency II is an opportunity for companies to transform their business by putting an enterprise risk management system in place to gain competitive advantage

Manuel Vellutini, Tagetik The roundtable panelists will be: Rob Remmerswaal, ING Insurance – Business and Process Management, Achim Heidebrecht, Talanx – head of corporate IT, Gordon Ejsmond-Frey, industry manager at Microsoft UK, Albert van Braam, Solvency II specialist at Sogeti, Marco van der Kooij, CPM specialist and moderator from Tagetik, and Maria Grazia Cafagna, Solvency II specialist at Tagetik.

Solvency II will have an unprecedented impact on reporting requirements for financial institutions and the insurance sector.

“The current systems and applications implemented are not sufficient to cope with the requirements of the three pillars of Solvency II that will affect both the quantitative capital requirements and risk management,” said Vellutini.

He concluded: “Next to the regulators, financial services companies still need to consolidate and report for external statutory and internal management purposes. That’s why Solvency II can be more than mere compliance. It’s an opportunity for companies to transform their business by putting an enterprise risk management system in place to gain competitive advantage.”

For more information, visit the Tagetik website.

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