"Solvency II Lessons Learned" - discussed in September, in Ljubljana

The introduction of Solvency II, starting January 2016, represents the biggest shift in the insurance regulation in several decades. the challenges arising from this shift ranging from financial, organisational, legal, operational, to systemic risks. The "Solvency II Lessons Learned" conference, organized by the Slovenian Insurance Supervision Agency, aims to exchange views on the first lessons learned in this respect.

As stated by the event's organizers, the year 2016 is of crucial importance for the insurance industry and the consumers in European Union, and specifically in Slovenia, as the market is gaining the first real-life experience in introducing risk-based regulation on an EU level. The industry has produced the first reports, calculated MCR and SCR, prepared ORSAs and thoroughly reviewed their rules of governance. On paper, all this seems simple. Yet in practice the process is far more complicated and there are several aspects which require the insurance professionals attention.

Secondly, the conference will focus on the thorough changes in the conduct of business landscape. The IDD directive has meanwhile been adopted, EIOPA has issued guidelines on Product Oversight and Governance and, additionally, Solvency 2 has also had a profound impact on consumers. This section of the conference will foster a discussion on impact of these changes on the insurance industry, consumers and regulators and supervisors.

Last but not least; a special mention will be given to the fact that 2016 marks the 25th anniversary of Slovenia's independence and consequently of its insurance market. "We are very proud of the mature and sustainable insurance market that grew out of the economic ashes of the former system, starting almost from the scratch. Slovenia has successfully entered the EU, adopted the EURO. Now we have a working market with almost 2 billion EURO overall gross written premium, 16 insurance companies and two regionally important insurance groups headquartered in Slovenia. Furthermore we are proud that despite adverse macroeconomic environment no insurance company in Slovenia in the past 25 years failed or required any form of state aid or intervention," stated the organizers.

The conference will take place in Ljubljana, os September 6th, organized by the Slovenian Insurance Supervision Agency, under the honorary patronage of the President of the Republic of Slovenia, Borut PAHOR.

Participation is free on charge. Applications for participation at the conference Solvency 2 will be accepted until Friday 26 August.

More details and registration here.

Related articles

STATISTICS: SLOVENIA, FY2017: life insurance and Motor Hull, the market drivers

Slovenian insurers ended 2017 with GWP of EUR 2.18 billion, 5.5% up y-o-y, mostly capitalizing from the life insurance segment's revitalization. Thus, after a weak 2016, when the life insurance business followed a descending path, in 2017 the almost 10% growth of the Unit-Linked insurance products line gave the segment the needed stimulus to re-enter on a positive trend.

2018-05-03

ON THE MOVE

TOP EVENT

FIAR 2018 - Motor Insurance Conference (I & II): with the right use of technoloogy, clients' expectations and MTPL insurer's profitability may go hand in hand

The first and second parts of the Motor Insurance Conference taking place at FIAR 2018 focused on the new MTPL Law in Romania and the way it changed the market after almost 1 year of implementation, as well as the consequences of the new legislative framework and the operational challenges this brings, but also the most suitable solutions for balancing regulation, insurers' appetites and customer expectations on the MTPL market.

16.05.2018

FIAR 2018: Brokers' Conference (II): digitization and technology are needed for efficient operations, but will not replace the human touch in consultancy

The second part of the Brokers' Conference taking place at FIAR 2018 analyzed the impact of European Union's legislative overhaul - IDD & GDPR -, also bringing into debate study cases and real-life scenarios of what the brokers face on the market, and, last but not least, trying to see whether digitization and InsurTech could truly lead to disintermediation.


15.05.2018

Brokers' Conference (I): Until 1 July, when we will see the final version of the IDD, we cannot say for certain if we are ready and how ready we actually are

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

15.05.2018

INSURANCE IN A DIGITAL WORLD Conference: capacity, consistency and culture are the three key success factors in the digital transformation of insurers

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

14.05.2018

Insurance Market Trends Conference (II): GDPR and IDD, European regulations affecting all business lines, as well as the compliance with the Solvency II framework, are the main challenges ahead for the Romanian market

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.


14.05.2018

See all