Optial announced today a strategic partnership with SolvEcon Limited (www.solvecon.co.uk), a consultancy firm specialising in Enterprise Risk Management, Programme and Regulatory Assurance and Model Validation for Solvency II and the Insurance sector.
The partnership builds on both organisations’ domain and technical experience and will provides clients with a best in class solution by teaming SolvEcon’s extensive expertise with Optial’s robust ERM system of governance for (Re)Insurers.
Peter Ambrose, Managing Director of SolvEcon said “From the challenges of model building and rating system design through to the understanding of economic impacts and stress testing, we work together with clients to help them respond to the push of the new insurance regulation regarding capital requirements known as Solvency II, which comes into effect in January 2013. Working with Optial we are able to provide a complete solution, including the underlying ERM platform that will enable them to identify and manage their risks within their defined risk tolerances, while ensuring reduced impact to the P&L from unexpected losses.”
“SolvEcon has a great depth of experience in the insurance market developing risk frameworks, implementing risk systems and providing specialist consultancy for Solvency II. Therefore they are an obvious choice for Optial in terms of creating this new partnership and we look forward to working closely together to deliver leading solutions to the market.” said Chris O’Brien, CEO of Optial.
About SolvEcon
SolvEcon aims to provide novel solutions to business problems and effectively presents a different way of looking at the future through Solvency II. To ensure a successful outcome for a firm, we provide assurance and assistance with Enterprise Risk Management frameworks, programme design, programme management and benefits realisation, through innovative methods of analysis and prediction. SolvEcon was established in 2009 by Peter Ambrose, Patrick Girling and Bridget Rosewell, all people who firmly believe that good regulatory change should be practical to implement and be used widely within a firm. Bridget Rosewell is a leading UK economist and Chief Economic Advisor to the GLA, whilst Paul Ormerod, director, is the author of three best selling books on economics including the most recent ‘Why most things fail.’
SolvEcon Press contact:
Peter Ambrose, pambrose@solvecon.co.uk +44 (0)20 8487 5611.