Volker Mohr is director of solution management for SAP AG's Insurance Business Unit.
New and developing regulations are bringing fresh challenges to the insurance industry. The new rules are impacting management of risk, capital, and data; accounting; and information technology. One of the most closely watched regulatory projects is Solvency II, a European Union initiative with implications for U.S.-based insurers.
Solvency II is designed to ensure the financial soundness of insurance companies with the goal of protecting policyholders and promoting fair and stable markets. Solvency II uses an economic risk-based approach for assessing capital adequacy.
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