Solvency II Internal Models-An Alternative

2016 ◽  
Vol 2 (0) ◽  
pp. 1 ◽  
Author(s):  
Vojo Bubevski
Keyword(s):  
Solvency Ii ◽  
Internal Models

Multi-Level Risk Aggregation

2009 ◽  
Vol 39 (2) ◽  
pp. 565-575 ◽  
Author(s):  
Damir Filipović
Keyword(s):  
Solvency Ii ◽  
Internal Models ◽  
Standard Approach ◽  
Bottom Up ◽  
Risk Aggregation ◽  
Multi Level ◽  
Insight Into

AbstractIn this paper we compare the current Solvency II standard and a genuine bottom-up approach to risk aggregation. This is understood to be essential for developing a deeper insight into the possible differences between the diversification assumptions between the standard approach and internal models.

scholarly journals The Models of Assessment of the Insurance Companies’ Activities

2020 ◽  
Vol 12 (515) ◽  
pp. 395-400
Author(s):  
N. М. Bakalova ◽  
Keyword(s):  
Internal Model ◽  
Solvency Ii ◽  
Internal Models ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Risk ◽  
Supervisory Authority ◽  
The Impact ◽  
The Eu

The article is aimed at assessing the impact of the Solvency II requirements on the Ukrainian insurance market and making a forecast of possible situations after the introduction of these requirements. To achieve the aim, the following tasks were set: to describe both the quantitative and the qualitative requirements of the Solvency II in the EU and the conditions for their use in the Ukrainian insurance market; to predict a possible change in the insurance market of Ukraine under the influence of the Solvency II quantitative requirements, which was performed as a result of the presented research. It is specified that the «novelty» envisaged by the Solvency II, which is related to the use of internal models, is an important step in the different sense of the assessment of the activities of insurance companies. This assessment is dominated not only by the quantitative parameters, but also by the problem of generally recognized risk, to which company is inclined and which is ready to take over. However, a significant number of aspects of this approach still need to be closer defined. The criteria related to the use of internal models for the needs of the supervisory authority have so far had the nature of the initial assumptions, and the experience of insurance companies (using internal models for their own needs, not the needs of the supervisory authority) concerns only a small percentage of companies. The internal model allows the insurance company to independently determine the actual demand for the required amount of guarantee capital. However, internal models include certain risks. The most important types of risks to consider in the internal models are grouped as follows: technical and insurance risk; risk associated with assets; operational risk and other types of risk. It is projected that the implementation of the project is likely to face many more unexpected problems, but the idea itself is interesting and understood by both insurance companies and regulatory authorities.

Actuarial Aspects of Internal Models for Solvency II

2009 ◽  
Vol 15 (2) ◽  
pp. 367-459 ◽  
Author(s):  
D. Brooks ◽  
R. J. Care ◽  
M. B. Chaplin ◽  
A. M. Kaufman ◽  
K. A. Morgan ◽  
...  
Keyword(s):  
Life Insurance ◽  
Internal Model ◽  
Current Practice ◽  
Good Practice ◽  
Solvency Ii ◽  
Internal Models ◽  
Regulatory Capital ◽  
Risk Quantification ◽  
Solvency Assessment ◽  
Future Practice

ABSTRACTThe draft paper sets out the authors' views of what good practice for the actuarial aspects of internal models will look like in 2012, the year Solvency II is expected to be implemented. Actuaries working on internal models can expect to have to follow such practices if their internal models are to be approved for use in calculating regulatory capital. The paper is therefore relevant for actuaries who plan to work on internal model implementation for Solvency II.Moreover, the risk quantification techniques discussed in the paper can also be used in the Own Risk Solvency Assessment (ORSA) process also required by Solvency II. The paper is therefore relevant to actuaries working in companies that are not planning to apply to use an internal model.The paper covers both life and non-life insurance and reinsurance, and reviews current practice as well as setting out possible future practice. This leads to identification of areas for research by the Profession to prepare for 2012 and an indication of the directions this work might take.The paper is effectively a work in progress, and readers should ask themselves what they should do in response to the ideas discussed.

Internal Models and Body Schema in Tool Use

2012 ◽  
Vol 220 (1) ◽  
pp. 50-52 ◽  
Author(s):  
Martina Rieger
Keyword(s):  
Tool Use ◽  
Body Schema ◽  
Internal Models

Internal Models in Tool Use

2007 ◽  
Author(s):  
Cristina Massen ◽  
Arvid Herwig
Keyword(s):  
Tool Use ◽  
Internal Models
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