Documentation

Documentation is key to understanding

Good, well-structured documentation is often overlooked in a model or process delivery. There are many aspects to documentation: documenting methodologies and assumptions, decisions that have been taken, weaknesses and limitations and areas of professional judgement; documenting code within models to ensure that it's easy to follow for whoever has to maintain it in the future; documenting the processes which must be followed; reporting, including management reports and ORSA.

A lack of good documentation can lead to misunderstandings and errors in the process, key man dependencies, difficulties making updates, or even a misunderstanding and misinterpretation of results which may lead to sub-optimal business decisions being taken.

Solvency II raised the bar

For many companies, Solvency II has led to a significant improvement in documentation, particularly around Internal Models and Technical Provisions. We have been through this process with several of the biggest companies in the UK market and can bring that experience to you.

Even where companies already have documentation to a high standard for some areas, they may benefit with a further roll-out to other parts of the business. We can help with that too,

Complete, structured, and controlled

It's not just about having the right documentation, it's also about ensuring that it's:

• Clearly structured, so that information can be easily and quickly located

• Stored in a controlled environment, so that the integrity of the documentation suite is maintained, and that changes are clearly traceable

• Managed in such a way that regular updates are carried out if required and that documentation does not get out of date, and that all sign-offs are clear and at the appropriate level

As well as helping you to structure and write your documentation, we can also help you with decisions around storage options and assist you in putting good management systems and processes in place.