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Now for the good news:
Realising the competitive potential of reporting convergence
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| Some insurers may prefer to watch and wait until details of Solvency II and IFRS Phase II are approved. However, what is likely to be a brief timeframe between finalisation and implementation could make this a highly risk option. Many forward-looking insurers are using these developments as an opportunity to streamline their reporting infrastructure as part of a holistic move to a common economic management framework. The potential benefits include removing the need for separate models and processes and using investment that will be required anyway as a catalyst for strengthening the quality of management information and decision-making. |
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