Programme Assurance plays an important role as insurers move towards implementing the requirements of Solvency II. Businesses simply cannot afford to make mistakes when it comes to implementing what is an evolving and therefore inherently complex set of requirements - and validation and assurance plays a key part in preventing this. Regulators and investors are going to make judgements based on the outputs and decisions taken early on influence this.
Clients need to have confidence that not only are they on track to meet regulatory requirements, but that their businesses and reported financial information will stand up to close scrutiny - from regulators, shareholders and investors alike. Clients who invest in independent assurance over all or aspects of their implementation are most likely to derive the benefits of competitive advantage from Solvency II, particularly if a detailed and methodical approach to implementation results in the minimisation of capital requirements.
Establishing at which point 'enough work' has been done is as important as being sure of covering each and every requirement in detail.
With our multi-disciplinary teams, we offer our clients a practical, holistic view to help them cut through the complexities of the regulations, satisfy the requirements and achieve the sustainable change in managing their businesses on a risk adjusted basis that many are targeting through Solvency II over the long term.