European insurers are in the midst of intense regulatory challenges, with the IFRS Phase 1 due in 2005 & looking ahead, capital adequacy requirements from Solvency 2. With challenges from optimal capitalization still remaining, Solvency II will have a considerable impact on the industry. How should insurers prepare for impending change? What can they learn from current Basel II initiatives?

• Highlights similarities and differences between Solvency II with its cousin banking regulation Basel II on capital adequecy
• Decribes an architecture framework for Solvency II
• Provides actionable recommendations for insurers related to Solvency II preparation from business, technology & investment perspectives

Data and data management processes are foundational issues that need to be addressed early. Find out how to tease issues out early in your preparation efforts.

Beware of Basel II solution vendors making the leap into Solvency II select ones that have the right industry track record and risk competencies. What are the key questions to ask?

• Position yourself for the 'next wave' of compliance initiatives similar to the scale of Basel II for banks
• Understand questions that you should ask about your IT functions, architecture, applications & data in order to prepare effectively for Solvency II
• Enhance planning of Solvency II compliance initiatives

European insurers are in the midst of intense regulatory challenges, with the IFRS Phase 1 due in 2005 & looking ahead, capital adequacy requirements from Solvency 2.