Insurance & Regulation
Solvency II is a European Union Insurance specific regulation similar to BASEL III for Banks. It is also a quantum jump in the art and science of macro economic forecasting and imposes a level of precision with complexity that will be a challenge for all. While delayed in implantation the ongoing economic crisis and the debate over more austerity or more government funded stimulus highlights the conflicting needs of precision ( 99.5% certainty level) and robustness ( under dramatic different scenarios) .I authored a Point of View for a client some time back. Read the original for the full implications. Espouses BIG DATA techniques. The paper is a deep dive. You are forewarned….
I co-authored a thought leadership article some time back on a new way to architect Insurance Policy administration system. This approach fits in well with the new BPM and rules based approach and is especially important for multi brand and multi line Insurers. Read the original for the full details.
#Healthcare lovely exposition of the mess in USA and the myths behind it. This is my favourite one a gem :
There is another sector of the economy in which technology only gets more expensive as it gets better: defense. What do defense and health care have in common? (Hint: Myth 2.)
Think of Narayana Health, or of Amazon or Apple for that matter, on the one hand, and the extravagantly expensive and delayed F-35 project, on the other. Which one does the U.S. health system more closely resemble?