Data Quality, Validation and Movement Analysis – Requirements and Approaches to Manage Quality under Solvency II
Speaker: Dr. Clemens Frey
Solvency II includes means for managing (data) quality at various points of the calculation of technical provisions and capital requirements, as well as in the validation activities which are overseen by the Actuarial Functions.
The websession addresses the most prominent requirements for data quality, validation and movement analysis. It shows their interaction but also shortcomings, e.g. in terms of data quality within the ORSA process (and why this is nevertheless important). Dr Clemens Frey will introduce the webinar by motivating the necessity for data quality management as well as validation of the results of actuarial calculations. He will show the requirements of Solvency II in this respect as well as concerning validation and movement analysis. Based on this, he will present a well-proven, unifying data quality framework for actuarial calculations, and show practical means for implementing this framework in insurance companies. The webinar will also contain detailed examples where data quality management is of specific importance to maintain the quality of results, in particular the ORSA process. For this process no specialised data quality management requirements have been set, nevertheless it is of specific importance in order to be in alignment with the overall importance of the process for insurance companies.