Between October 2011 and March 2012, KPMG interviewed senior decision makers at 43 global insurance companies about their use of and opinions on EC modeling.
The survey results and the input of our global experts formed the basis of this report. The publication highlights the role of EC modeling in the insurance industry, the growing challenges in implementation and the emerging trends in EC modeling.
We point out that if EC frameworks are properly understood, they not only provide a route map for compliance but also offer invaluable information for risk appetite, risk management, capital allocation, pricing, underwriting and strategic decisions. If used ineffectively, EC modeling can become an expensive, regulation-driven tick-box exercise that can hamper long-term decision making.
To find out more, please download the full report.