Articles - Data management concerns & challenges for actuaries



 Take part in this major survey and voice YOUR data management concerns and challenges by clicking here

 ClusterSeven, an international provider of software to manage unstructured financial data, and Actuarial Post have today launched a major survey into the data challenges faced by actuaries in the context of a fast-changing regulatory and business environment.
 To be completed by individuals involved in the actuarial process, the anonymous survey will take less than 5 minutes to fill out. Actuarial Post is happy to support the research as it will shed light on the critical role actuaries continue to play in the evolution of best-practice data management under Solvency II and other industry developments.
 The demands being placed on the people responsible for effective data management continue to rise as stakeholders – such as regulators, analysts, shareholders and senior executives – require greater transparency, oversight and control on the processes behind an insurer’s data systems.Spreadsheets,in particular, have become a core focus for insurance market regulators: in the UK, the FSA has stated very clearly that one of the biggest risks for insurance companies in the run-up to Solvency II is managing the data contained in large estates of spreadsheets.

 Ralph Baxter, CEO of ClusterSeven,said: “Actuaries hold the keys to excellence in data management and the spreadsheets that underpin data processes. They are uniquely placed to ascertain the critical issues faced by firms and we are asking the actuarial community and readers of Actuarial Postto help us better understand these concerns and their solutions.”

 Ellie Burns, Editor of Actuarial Post, said “We are delighted to be a part of this major survey as Actuarial Post remains dedicated to supporting research which can result in providing actuaries information which can help aid, develop and support their actuarial work.

 The survey can be accesed by the follwing link

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