Developing and Deriving Value from ORSA 2017

The Own Risk and Solvency Assessment (ORSA) has proved to be one of the more challenging aspects of Solvency II to implement for many insurers. Different methods have been adopted across the industry and many companies are looking to develop their existing strategies as they move forward in order to derive more value from the ORSA, involve the board and meet regulator expectations. The ORSA can hold many benefits for insurers; an increased awareness of risk can lead to better risk mitigation, a clear and well communicated risk appetite statement can improve company culture, and a better understanding of the risk profile can enable more informed decision-making by the board and at a strategic level. Risk's two day training course will give participants guidance on how to develop their current ORSA implementation and derive tangible value from the processes involved. Topics will include embedding and using ORSA, assessment of the risk profile, data management, dealing with expectations, involving the board, and scenario analysis. Consideration will also be given to potential future developments, international requirements, and different ORSA implementation strategies.