Solvency II includes means for managing (data) quality at various points of the calculation of technical provisions and capital requirements, as well as in the validation activities which are overseen by the Actuarial Functions.
The web session addresses the most prominent requirements for data quality, validation and movement analysis. It shows their interaction but also shortcomings, e.g. in terms of data quality within ORSA process.
Dr Clemens Frey will introduce the web session by motivating the necessity for data quality management as well as validation of the results of actuarial calculations. He will show the requirements of Solvency II in this respect as well as concerning validation and movement analysis. Based on this, he will show what a good data quality framework looks like, and which pitfalls should be avoided when building one. He will present a unifying data quality framework for actuarial calculations and show a practical case study in setting it up such a framework.
The web session will also contain an outlook to modern methods like individual claims reserving, and the even higher levels of data quality management which will be required.
This web session has been developed for all levels of practitioners who want to gain a deeper understanding of requirements and state of the art techniques for data quality management, validation and movement analysis in the context of Solvency II.

Organised by the EAA - European Actuarial Academy GmbH.

The web session is open to all interested persons.

Technical requirements and test session
Please check with your IT department if your firewall and computer settings support web session participation (the programme GoToTraining is used for the web session). Please also make sure that you are joining the web session with a stable internet connection. 

On 1 April  10:00 – 10:30 CEST, there will be a test session offered to all registered participants to test the software.

The aim of this web session is to provide an overview of the Solvency II requirements on data quality, to present a practical framework of data quality and practical approaches to maintain and increase data quality in actuarial applications. The web session also includes a case study to show practical applications in actuarial and regulatory contexts.

The language of the web session will be English.

Clemens Frey
Dr Clemens Frey, Actuary DAV, CERA, is Partner of FSO Advisory at Ernst & Young (EY) in Germany. He has 20 years of experience in consulting and the financial services industry. Clemens’ focus is on the transformation towards the application of modern methods of data management and analytics. He supports banks and insurance companies in designing and delivering machine learning and artificial intelligence throughout their whole value chains. This embraces the application of machine learning in customer management, in risk selection, underwriting and pricing, in claims management and actuarial reserving, for example. Prior to this he has led Actuarial Services in audit and advisory contexts, and has gained experience in strategy and transformation projects, mainly concerning M&A and portfolio transfers, IFRS17, Solvency II and risk management. He serves as deputy chair of the General Insurance Committee of the German Association of Actuaries (DAV) and as a member of the Actuarial Data Science Committee as well as the Accounting and Regulation Committee. He currently chairs two Working Groups, one on IAIS’ International Capital Standard and one on Cyber Risk Data and Modeling.