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Press article: Matching model theory to the realities of the market
News & Insights 3 September 2019
Insurers need to better understand how the outputs from risk models interact with the day to day dynamics of the market
The insurance industry has come to rely heavily on risk modelling to inform capital setting, business planning and decision-making on a variety of topics, from reinsurance purchases to new product launches.
Although partly driven by regulatory expectations, this has undoubtedly led to insurers having a more sophisticated understanding of their risk profile and an improvement in the financial strength and stability of the wider industry. However, there is often only a small number of people in any organisation who have a true understanding of how risk models work and therefore how best to interpret their outputs.
To read the full article please visit the Insurance Day website or it can be found in the pdf attached on the right, reproduced with kind permission from Insurance Day.