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Monitoring solvency through a crisis
Russell Ward & guest speaker, Nick Jackson, from Royal London

In this session we will outline an approach that facilitates high frequency monitoring of a life insurer’s solvency position and describe how the benefits of such functionality have come to the fore during the Covid-19 pandemic of 2020.

Model risk
Russell Osman

We will provide a recap of what model risk is and how it may arise and then turn our attention to an overview of model risk management in relation to the use of vendors’ models. Finally, we will then extend this to consider open source aspects, and look at controls that might be appropriate surrounding end-user scripting.

Insurance Capital Standards – just a sideshow?
Philip Simpson & Thomas Bulpitt

The development of Insurance Capital Standards (ICS) has been somewhat overshadowed by the pressing need to address Solvency II and IFRS 17. However, with the advent of Brexit it seems ICS may have a new role to play as a potential reference point as adjustments to the UK insurance solvency regime are considered. In this session, we will provide a brief outline of the key features of the ICS but then focus on the results from a quantitative analysis undertaken of its impact versus Solvency II.