The report surveys both the demand and supply side of the Solvency II technology market and includes new information on industry trends and business requirements. It summarises the capabilities of some of the leading Solvency II software vendors.
Over the last 12 months, FRSGlobal has added all components that allow an insurer to measure and report both market and counterparty risk including sophisticated models to measure credit loss and portfolio risk based on multi risk factor models, including market and credit risk factors.
Thomas Brouwer, Head of Product Management at FRSGlobal, commented: âAs the only global provider of risk and regulatory solutions on a unified platform, our offering is uniquely appropriate for Solvency II's dual emphasis on both Solvency Capital Requirements (SCR) and Minimum Capital Requirements (MCR), and also the evolution of a company's risk management and governance strategy.â
Peyman Mestchian, Managing Partner at Chartis Research said: âIn the medium to long term, large and diversified insurers will likely benefit from the new rules, which could lower their solvency margins by up to 35% thus freeing up capital to invest in growing their businesses. Chartis has forecast the Solvency II technology market to grow to $1.67 billion by 2013 at a compound annual growth rate of 19.2%.â