- Some participants are hoping for the calibrations to change - as a response to missing the SCR! (PS I checked, and it wasn't published on 1st April)
- Data collection processes feature high on most participants agendas, which is great news
- ORSA and Documentation highest on the "next steps" agenda - good boys!
- The implementation of an ERM framework also features on the priority list - not a surprise in that the larger organisation will have early adopter benefits in this field.
- Relatively small number of internal model applicants
- Over half needed external help with QIS5 - around 40% found this a beneficial experience in some way
- Similar problems with data suitability as reported at aggregated level in UK and Ireland (risk margin, counterparty default and health underwriting risk all scoring low)
- Op Risk SCR calculation rated highest in meeting technical specifications (my impression was that it was too simple)
Thursday, 14 April 2011
Barnett Waddingham - SMEs under QIS5
Was happy to have this flagged by our friends at Insurance ERM - a UK based SMEs survey on QIS5, which is full of fascinating gear, for example;