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VALUE Creating
T H R O U G H R I S K M A N A G E M E N T
SOLVENCY II
ABOUT Enterprise Concept was founded in 2005, based on the beliefs of the founders that they can help others create value and change the way of doing business. In order to set up the practice of those beliefs, the founders, management and their followers embraced three major innovative concepts: Decision Management System, Business Process Management and Business Performance Management. The practical aim has been to bridge the gap between management consulting and technological execution and has transformed our expertise into pure art.
WE CREATE VALUE, POWER AND PERFORMANCE. We consider every single client an outstanding asset and a
pillar of our common development.
25 companies have chosen us
Design and execution of smart processes have enabled our clients to better mitigate risks and win opportunities.
140 BPM projects implemented
SOLVENCY II
IMPACT W E C R E A T E I M P A C T T H R O U G H P R O C E S S M A N A G E M E N T D E S I G N
Enterprise Concept brings together a team of 32 Business - IT Certified Senior Consultants, trained to provide Strategic Consulting Services throughout all stages of implementation:
CREATING CONDITIONS FOR SUCCESSFUL IMPLEMENTATIONS Gathering 10 years of hands-on experience, the
company has evolved into a team of consultants excelling at redesigning business models that generate added value - by positioning technology as the basic structure when creating BUSINESS LOGIC.
EMBEDDING DESIGN THINKING IN BUSINESS
INCREASING VALUE THROUGH OPERATIONS
BUSINESS ANALYSS
BUSINESS PROCESS
OPTIMISATION
CHANGE MANAGEMENT
ENHANCED RISK MANAGEMENT SYSTEM
PLANNING AND BUDGETING
CLAIMS MANAGEMENT
MASTER DATA MANAGEMENT
CREDIT MANAGEMENT
CUSTOMER ONBOARDING
A. SOLVENCY II CHALLENGE
B. FINANCIAL MODELER
C. EC’S ADAPTIVE BUSINESS DESIGN (ABD©)
PRACTICAL ASPECTS FOR VALUE-BASED RISK MANAGEMENT
METHODOLOGY
A B C
SOLVENCY II
THE SOLVENCY II CHALLENGE “Solvency II is not just about capital. It is a change of behavior"
REQUIREMENTS
! Focus on addressing the wider guidance around risk governance and capital management.
PILLAR III
Aims to establish a revised set of EU-wide capital requirements and risk management standards
PILLAR II
# Fundamental review of the capital adequacy regime for the European Insurance industry.
PILLAR I Through the harmonization of supervisory regimes. DEEPENED EU MARKET INTEGRATION
Shift supervisors’ focus from compliance to insurers’ risk profiles and quality of risk management and governance systems.
MODERNIZED SUPERVISION
Uniform and enhanced level of policy holder protection across the EU.
IMPROVED CONSUMER PROTECTION
INCREASED INTERNATIONAL COMPETITIVENESS OF EU INSURERS
KEY OBJECTIVES
SOLVENCY II
& HOW CAN ENTERPRISE CONCEPT HELP?
A successful partnership with IBM, the leader in risk management solutions, enables us to
thoroughly respond to technical provisions and capital requirements included in Pillar I.
AWARD WINNING TECHNOLOGY
More complex challenges stem from requirements of Pillar II and III, which are fully addressed by
implementing R-ABD© information architecture.
RISK AGILE FRAMEWORK
ENTERPRISE PERFORMANCE MANAGEMENT
BUSINESS PROCESS
MANAGEMENT
DECISION MANAGEMENT
SYSTEMS
ADAPTIVE BUSINESS
DESIGN
As a trusted IT advisor of large companies, we are today in a position of helping our clients
working in the insurance business, by providing
integrated solutions addressing all three pillars of Solvency II
1 2
SOLVENCY II
Bermuda [1]
Brazil [2]
Chile [3]
China [7]
Columbia [1] Hong Kong [3]
India [5]
Indonesia [2]
EMEA Japan [15]
Korea [6]
Malaysia [2]
Mexico [2] Pakistan [4]
Peru [2]
Singapore [3]
South Africa [1]
Sri Lanka [1]
Taiwan [3]
Thailand [5] USA [3]
Uruguay [2]
Vietnam [1]
• Used by Tier 1 – 3 life insurers globally, including new multi-national clients
Belgium [5] Bulgaria [1]
Cyprus [2]
Czech Rep [1]
Denmark [3]
Egypt [1]
Estonia [1]
Finland [1]
France [4] Germany [2]
Greece [6]
Hungary [3]
Ireland [6]
Israel [1]
Latvia [1]
Lebanon [1]
Lithuania [1]
Lux [1]
Malta [2]
Netherlands [13]
Poland [2]
Portugal [2] Romania [1]
Norway [1]
Slovakia [1]
Spain [15]
Sweden [2]
Switzerland [2]
Turkey [6]
UAE [1]
UK [19]
• Currently in use by • 1000+ users • 170+ companies • 180+ locations • 50+ countries
Italy [1]
ArgenXna [1]
PILLAR I: IBM ALGO FINANCIAL MODELLER 1
AN IBM SOFTWARE DIVISION CURRENT CLIENT BASE
SOLVENCY II
01
02
03 Cash flow Modelling
Regulatory Reporting
Business Strategy
IBM ALGO
IFRS SOLVENCY II LOCAL STATUTORY
1
BUSINESS STRATEGY PRODUCT PRICING PRODUCT DESIGN
STOCHASTIC
2
ASSET & LIABILITY EMBEDDED VALUE
3
A calculation generation tool with a graphical interface providing users with a flexible platform to perform a wide range of actuarial focused life insurance business functions.
WHAT IS IBM FINANCIAL MODELLER 1
SOLVENCY II
STANDARD CODE RAPID MODEL DEVELOPMENT 1
$
%
&
'
Standard Code
Common Calculations
Local Ownership
Design Ethos
Pre-built building blocks(routines)
Quick implementation
Standard Code
Core calculations, e.g. probabilities
Actuarial processes, e.g. PVFP
Generic products, e.g. term, UL, annuities
Common Calculations
Local regulatory requirements
Local product variants
Treat “Common Code” as a starting point
Local Ownership
Use again and again
Optimal AFM coding
Easy customization
Design Ethos
INTEREST
' !
(
)
#
$
EMBEDDED VALUE
AGES, DATES & DURATION
ALM
RESERVES
PREMIUMS
BENEFITS
#
EXPENSES
COMISSIONS
PROBABILITIES
SOLVENCY II
The Adaptive Business Design © (ABD) offers maximum flexibility to a company to rapidly (re)configure and rethink business processes and performance indicators. ABD© brings an integrated risk-agile framework and is achieved through definition and implementation of 3 interdependent systems, supported by high-end technology:
ADAPTIVE BUSINESS
DESIGN
Design of effective business communities:
BUSINESS PROCESS
MANAGEMENT
DECISION MANAGEMENT
SYSTEMS
ENTERPRISE PERFORMANCE MANAGEMENT
Effective partnershis clients, suppliers,
strategic allies
Design of Transformational
Management Systems
IT Supported
Revenue enhancement
Design of client centric processes
Achieve Business Objectives (Strategy)
Balanced Scorecard in
action
Design and Implementation
of Decision Analytics
Management Systems
Value Capture
Design of Adaptive
Measurement Systems
Design
Implement Change
AN ADAPTIVE AND RISK-AGILE FRAMEWORK 2
1 – Strategic and operational KPIs, the results of business activity
ENTERPRISE PERFORMANCE MANAGEMENT
2 – Decisions and associated costs DECISION MANAGEMENT SYSTEM
3 – Flows that create business value BUSINESS PROCESS MANAGEMENT
SOLVENCY II
*
+
$
BUSINESS PROCESS MANAGEMENT (BPM) The BPM layer enables companies to easily design, monitor and change their processes, thus continuously focusing on increasing added value and process controls. Process Management is a key prerequisite of efficient and effective governance and qualitative measures.
ENTERPRISE PERFORMANCE MANAGEMENT (EPM) The EPM component gathers, transforms and displays data and information collected in the processes (BPM) or in other systems of the company, so that the most relevant indicators can be singled out, monitored and improved. This applies also to all indicators targeted in Risk Management and supervisory interaction.
DECISION MANAGEMENT SYSTEM (DMS) The results of BPM and EPM are then used to improve the decisional process, which allows the decision-makers at all levels - and consequently the company - to quickly identify and avoid risks, but also seize strategic and operational opportunities.
AN ADAPTIVE AND RISK-AGILE FRAMEWORK 2
SOLVENCY II
(
, $
&
There is not one solution which fits all – companies need the right partners to design an optimized system.
CUSTOMIZED SOLUTION
Your business needs a system which is both flexible and scalable enough to deal with regulatory guidance but able also generate opportunities
FLEXIBLE AND SCALABLE
Choose ABD for maximum flexibility to rapidly (re)configure and rethink business processes
and performance indicators.
ADDAPTIVE BUSINESS DESIGN
Act now and start building the program which provides the right
balance of costs and benefits. .
ADDED VALUE
SOCIAL MEDIA
CONTACT INFO
Tel: +0 371 464 524 Fax: +0 371 464 524
Email: [email protected] Web: www.enterprise-concept.com
ENTERPRISE CONCEPT Strada Aviator Traian Vasile nr 58,
Sector 1, Bucuresti
Facebook.com/enterpriseconcept
Twitter.com/enterprisebpm
Plus.google.com/enterpriseconcept
Linked.in/enterpriseconcept