Timo Salminen, Model IT
Insurance market regulation will take a giant leap at the beginning of 2013 when the European Union begins to enforce the Solvency II regulation. Insurance companies are required to model and price insurance contracts to the most granular detail, a major challenge for all insurers. This is particularly challenging for life insurance, where policies include many possible capital market relations and optionalities.
To simplify this problem, Model IT developed mSII toolbox for MATLAB, providing companies with a simple and efficient modeling platform to calculate insurance risks. In this presentation, we demonstrate mSII and share our experiences working with Fennia Life, a Finnish insurance company that successfully ran an authority reporting test (QIS5) in October 2010 using mSII.
Recorded: 1 Jun 2011