Own Risk and Solvency Assessment | FTI Consulting
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Own Risk and Solvency Assessment

As the reality of compliance with Own Risk and Solvency Assessment (“ORSA”) regulatory requirements begins to set in, insurers, reinsurers and their subsidiaries are implementing and fine-tuning their programs to reach the desired ORSA maturity level and improve overall program effectiveness. Leadership focus, including board and executive buy-in and involvement, is a primary factor in reaching these goals.

FTI Consulting senior advisors can simply and clearly educate the board and senior management about the ORSA process and its strategic importance. We help clarify priorities and plans to ensure that ORSA not only meets regulatory requirements but supports global competitive capabilities. This includes ensuring that implementation within subsidiaries is, and remains, in harmony with parent strategies.

Our approach is structured to ensure a comprehensive understanding of the organization’s ORSA process, leading to a clear and disciplined path to producing the ORSA report. Depending on the maturity level of the organization, the steps may include Assessment, Gap Analysis, Implementation, Review and Validation, and Oversight.

Many organizations are assessing their ORSA initiatives with a fresh Gap Analysis to improve effectiveness and to reach the desired ORSA maturity level. FTI Consulting can lead the effort by establishing remediation priorities and by working with staff to implement specific projects under strict time and cost deadlines. For companies that are further along in the process, we offer an external evaluation or peer review prior to the submission of the ORSA report to regulators.

Developed and implemented properly, ORSA can strengthen the organization’s risk management capability, improve the use of capital and lead to better financial performance. As your ORSA partner, FTI Consulting applies our deep experience and expertise in governance structures; risk and controls; capital management; data quality and controls; modeling and analysis; and compliance and reporting to help you implement and benefit from an effective ORSA process.

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Key Contacts

Paul Braithwaite

Senior Managing Director, Co-Leader of Insurance Services

Wendy Shapss

Senior Managing Director, Co-Leader of Insurance Services

Jim Toole

Managing Director