Simplify Solvency II with Data Directories
"Centralised data directories should form an integral part of implementing Solvency II, not only to fulfil regulatory requirements but to make business operations easier too" contends Northdoor’s director of consultancy Rob Stavrou and featured in November 2010's Post Magazine.
"If an insurer is to have any chance of ensuring data consistency then a data directory must be developed, one that is not only understood and used by the whole organisation but which also uses a standardised category set and agreed processed for dealing with data. When used in this way, such a directory will at the very least serve as a register of data in the internal model: what it is, how it is used and what its data sources and dependencies are."
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