Why Solvency II is a lesson for all CFOs
In this Progressive CFO series, Marco van Ackooij, partner at Deloitte Consulting, will be interviewing Ronald van Hees, finance director for CZ Health Insurance, on his company's Solvency II journey
Solvency II, which introduced stringent requirements for capitalization and reporting for insurance companies throughout the European Union, is arguably the most complex regulatory regime business has ever seen. In order to meet Solvency II requirements, most insurance companies had to dramatically revamp and automate processes for data collection, data management, reporting, and risk management.
At the same time insurance companies took the opportunity to improve their financial management capabilities and transform their reporting processes towards a truly data driven process. This drives the ambitions to further integrate and enhance the reporting solutions and take management reporting, risk reporting and planning, budgeting and forecasting to the next level.
Given the increased regulatory requirements and ambitions for a rigorous finance transformation for all markets and geographies, finance professionals across all industry segments can benefit from the lessons learned by companies successful in Solvency II compliance.
Join us as Marco van Ackooij, partner at Deloitte Consulting, talks with Ronald van Hees, finance director for CZ Health Insurance, about his company’s Solvency II journey and the ancillary business benefits gained by the process.