Insurance Technology Featured Article

Gjensidige Deploys RiskIntegrity, Moody's Analytics Solvency II Compliance Solution

January 02, 2013

Gjensidige, a leading Nordic insurance group, is all set to deploy Moody’s Analytics’ Solvency II software, RiskIntegrity. This risk management software will comply with Solvency II directives and help Gjensidige in improving its risk management architecture.

RiskIntegrity is an integrated solution which consolidates regulatory risk data from multiple sources to deliver risk-type aggregation and SCR, Solvency Capital Requirement calculations with integrated reporting capability.

“Moody’s Analytics offered us the best solution to help us meet regulatory requirements for our Norwegian, Danish, Swedish and Baltic operations. We preferred the solution’s integrated regulatory reporting capabilities, which leverages the same data used for the SCR calculations. This will save us vital time and effort when carrying out our quarterly reporting,” said, Thomas Bichard-Breaud, in charge of Gjensidige’s Solvency II reporting.

Christophe Burckbuchler, senior director of Product Management at Moody’s Analytics, said, “We welcome Gjensidige to our growing list of Solvency II clients. This new relationship underscores our commitment to serving the Scandinavian insurance market, as we grow our insurance business in the region.”

Gjensidige chose RiskIntegrity, Moody’s Analytics Solvency II solution for its user-friendliness and out-of-the box regulatory capabilities. Moody’s Analytics expertise in implementing software solutions for large and international organizations and the solution's out-of-the box regulatory capabilities were also big factors that drove the decision to select RiskIntegrity. This risk management software showcases Moody’s Analytics technological sophistication and its vast experience in handling larges risk management projects all around the world.

Moody’s Analytics in addition to RiskIntegrity, offers comprehensive solutions for insurers including RiskFrontier for credit VAR calculations and the Barrie + Hibbert iESG Modeling Suite which was acquired by Moody’s Analytics in 2011.

Gjensidige has been working for about 200 years now, to secure the lives, health and assets of its customers. It has more than 3,100 employees. It offers insurance products in Norway, Denmark, Sweden and the Baltic states. It also offers banking, pension and savings in Norway.

Moody Analytics offers unique tools and best practices for measuring and managing risks through its expertise and experience in handling projects of credit analysis, economic research and financial risk management successfully the world over. It provides leading-edge software, advisory services and research, including proprietary analyses from Moody’s Investors Services.

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Edited by Rich Steeves

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