Post Blog: Fail to prepare and prepare to fail
The revised deadline for Solvency II compliance for European Insurers is 1 January 2014. Despite the delay in start date, the reality is insurers cannot afford to be complacent with their plans.
Insurers will need to have the appropriate systems and processes in place by the end of 2013. To comply with the legislation, insurers need to make major changes to most of their existing core insurance processes and IT systems, including product development, marketing and sales, quotations, underwriting and risk management, policy administration, and asset and investment management.
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