SZ Versicherungstag 2017 at Schloss Bensberg

25. Jan 2017

At the SZ Versicherungstag 2017 on January 25th, 2017 in Bad Bensberg, Dr. Manfred Dirrheimer talked about his experiences with Solvency II in the life insurance sector and about the future of the industry in a joint meeting with Mr Gabriel Bernardino, Chairman of EIOPA, and Dr. Markus Faulhaber, CEO of Allianz Lebensversicherungs AG.

While Mr Bernardino argued, that for EIOPA, the major drivers in regards to the design of Solvency II were improved consumer protection and a clearer framework for defining a life insurance companies financial power, he also noted that EIOPA does not intend to limit the power to innovate necessary to further develop the industry. According to him, this in particular will play an important role during the revision of Solvency II by 2021.

Like Mr Bernardino, Dr. Faulhaber had a rather positive view on the development of the sector. He referenced the sufficient degree of freedom available for life insurance businesses, which should especially be leveraged in the context of investment approaches and process design.

Dr. Dirrheimer also stressed the positive business prospects for innovative life insurance companies. He concluded, that to be successful in the future, the profile of a life insurance company should be characterized by decisiveness, flat hierarchies, controlled risk structures and a high degree of digitalization which enables a highly individualized customer offer based on complex and modular product components. According to him, these performance indicators fit the profile of FWU very well.

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