UK insurers behind schedule on Solvency II data requirements
UK Financial Services Authority highlights problems with data control, ownership and validation
UK insurance firms are continuing to struggle with the data requirements imposed by Solvency II.
Firms undergoing the internal model approval process (Imap) need to integrate new data governance structures into day-to-day business processes in order to meet the requirements of the new regime.
However, the scale of the challenge means many companies are falling behind schedule in building the required infrastructure, experts warn.
Acquiring asset data of appropriate granularity has been a
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