The role of the actuary in the process of implementing risk-based models to assess and manage the overall risk situation of an insurance undertaking will be more and more important, especially on the basis of the company specific risk profile (Internal Models). Regulators set rules for the use of (partial or full) internal models for the control of solvency capital and will ask explicit approval for any specific model. Hereby, the actuary participates in the building, testing and monitoring of appropriate models and descriptions of the risk situation by the internal model.

The seminar is designed for actuaries and risk managers who are in charge of or involved in the development of Internal Models in an insurance company, in a supervisory authority or in audit or consultancy firms. It supports actuaries, risk managers and senior management in these interdisciplinary tasks: 

• Improve the understanding of the role and importance of Internal Models in the Solvency II-Process
• Improve the understanding in how to use, calibrate and implement Internal Models
• Improve the understanding in the underlying business processes in the entity