Our consultants understand the challenges faced by health insurers operating in Central and Eastern European countries. As the emerging Solvency II regulation nears its 2012 target implementation date, Milliman offers invaluable expertise in the requirements for health insurers under this new reporting standard.
Solvency II requires a new approach to establishing reserves for outstanding claims and premiums. We can guide health insurers in developing the more comprehensive economic capital calculations and enterprise risk management strategies that the new regime requires.
Milliman consultants have been involved in the development of Solvency II since the regulation was first proposed, and are frequently called upon to share our thought leadership on best compliance methods. We have assisted insurers participating in the quantitative impact surveys at each phase of the regulation's development.
We have extensive experience working with health insurers in Western Europe and understand the specific Solvency II issues confronting health insurers operating in each country. We understand how the differing regulatory and competitive landscape in each country affects an insurer's approach to Solvency II compliance.
Expertise in building internal capital models
One of the key questions posed by Solvency II is whether the time and cost of creating an internal capital model for compliance will prove worth the effort and expense. Milliman excels in evaluating an insurer's particular situation and determining the best course of action. If a capital model is worthwhile, our healthcare consultants have broad experience in building robust internal capital models consistent with Solvency II requirements.