Outsourcing insurance activities via a network of delegates dramatically increases the volume of exchanges with the risk bearer, i.e. still the insurer, and agents.
Solvency II has increased the requirements on insurers who must ensure compliance with their obligations when they outsource insurance duties or activities. Accordingly, exchange and reporting processes between the insurer and the delegates must not only be structured, they must also be formalized and precisely managed to deliver the necessary reporting. For example, providing a reliable audit trail for controllers and the regulator.
With the digitalization of processes and exchanges, insurers are confronted with an additional layer of complexity: how to optimally organize exchanges in order to guarantee the management process and increase the firm’s performance.
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