Profile picture for user svro

On September 2 and 3 the Pit stop sessions took place in Athens. The pit stop team discussed with several big insurance companies the challenges and opportunities of Solvency II. Solvency II is new law for 5000 European insurance companies that they have to comply with latest January 2013. In Greece there are about 15 insurers (for life insurances) active.

Figure 1: Solvency II Pit stop team in Greece. From left to right upper row: Matteo Colombo (CEO SPIRIT Italia), Nick Damianakis (CEO SPIRIT Greece), George Konstantellos (Manager SPIRIT Greece), Yiannis Fertakis (Partner SPIRIT Greece). From left to right lower row: Vassiliki Spentzou (Senior Manager SPIRIT Greece), Sven Roeleven (GRC Expert IDS Scheer), Martin Knook (CEO SecondFloor).

During the sessions it became clear that the Enterprise Risk Management (ERM) solution of ARIS covers Pillar II quite complete and in a sustainable way. In the pit stops as an example Solvency II article 102 (positioned in Pillar I) was used, to work out specific requirements in detail in a process and supporting software of SecondFloor. This gave attendees better insight in the concept of achieving compliancy and the available solutions and products. Furthermore SecondFloor developed during the pit stop a very ‘sexy’ Monitoring Dashboard in ARIS MashZone, meeting the requirements of the Greek  Insurance companies. See below some tabs of the new Mashup that can be used –everywhere in Europe- to monitor SII status.

Figure 2: SecondFloor mashup  for monitoring international  the data collection process for SII.

Figure 3: SecondFloor mashup  for monitoring Solvency II status by diffirent risk types.

Figure 4: SecondFloor mashup  for monitoring ORSA (Own Risk & Solvency Assessments).

After two busy days the CEO and owner of SPIRIT Greece, Nick Damianakis,said: “pit stops are a great occasion to challenge our insurance contacts about achieving their goals and discuss the ways that we can help them further. One thing is for sure: the insurance market in Greece is on track with the orientation and can be supported now with their next steps in implementing sustainable GRC solutions.” 

For more information on governance, risk, and compliance management topics, visit www.grc-lounge.com.

Featured achievement

Rookie
Say hello to the ARIS Community! Personalize your community experience by following forums or tags, liking a post or uploading a profile picture.
Recent Unlocks

Leaderboard

|
icon-arrow-down icon-arrow-cerulean-left icon-arrow-cerulean-right icon-arrow-down icon-arrow-left icon-arrow-right icon-arrow icon-back icon-close icon-comments icon-correct-answer icon-tick icon-download icon-facebook icon-flag icon-google-plus icon-hamburger icon-in icon-info icon-instagram icon-login-true icon-login icon-mail-notification icon-mail icon-mortarboard icon-newsletter icon-notification icon-pinterest icon-plus icon-rss icon-search icon-share icon-shield icon-snapchat icon-star icon-tutorials icon-twitter icon-universities icon-videos icon-views icon-whatsapp icon-xing icon-youtube icon-jobs icon-heart icon-heart2 aris-express bpm-glossary help-intro help-design Process_Mining_Icon help-publishing help-administration help-dashboarding help-archive help-risk icon-knowledge icon-question icon-events icon-message icon-more icon-pencil forum-icon icon-lock