The implementation of IFRS 17 and determining the Contractual Service Margin (CSM) for existing insurance contracts presents insurers with major challenges.
The primary objective of data science is adding value to the business, using data. This is where a well selected AutoML platform can make a difference.
Postponing the introduction of IFRS 17 and IFRS 9 gives insurers more time to work out important issues, such as the choice of interest rate curves to be applied and the methodology for risk adjustment.
Basel III still has a future as the latest refinements introduce an output floor, minimum capital requirements are calculated for various financial and even non-financial risks. If you do a deep dive a whole new universe opens up.
Every winter the Netherlands is hit by several storms. Those extreme winter storms can cause big losses for insurers and are the most damaging insured natural catastrophes in the Netherlands.
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