Lloyd's Risk Management

It’s vital that Lloyd’s syndicates’ accounting and investment teams understand the importance of data integration and accuracy in preparation for Solvency II.

Many insurers have let manual data issues and investment management gaps linger as background inconveniences, ostensibly to be taken care of when they have more employee resources. But Solvency II requirements have made it clear that broken processes and manual work-arounds are no longer sufficient – nor sustainable.

Lloyd’s Risk Management outlines the five major challenges that burdened syndicates during the dry-run, including data integrity, the general ledger process, asset manager relationships, data management, and the lack of best practices.