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BLOG. 3 min read

The Importance of a Flexible Risk Platform to Address Challenges

The past few years have been challenging for many industries, and the insurance industry is no exception. In the face of market uncertainty, top insurers have had to rethink their risk management process.

Unipol Gruppo, a large Italian insurer, needed a flexible solution with the possibility to model complex assets, as well as a powerful scenario generator to incorporate new risk factors, and an interactive risk dashboard to facilitate the analysis of the results. Unipol chose SS&C Algorithmics for the breadth of its models, the expertise of the team and the ability to develop new functionalities quickly.

Unipol uses an Internal Model for Solvency II, with proxies for liabilities that leverage bespoke risk drivers, alongside market data such as interest rate term structures. SS&C Algorithmics offers advisory services that include deep expertise in the insurance industry, which allowed Unipol to collaborate with the professional services team to incorporate their customized model into the solution.

Unipol invests a lot of energy into assessing climate risk. As a leading insurer in the non-life business, Unipol is exposed to both transition and physical risk, particularly in light of the fact that Italy is vulnerable to natural events such as floods and earthquakes. Besides the ability to revalue assets and liabilities under climate stress scenarios, Unipol is working to incorporate climate-related models into its quantitative risk estimation.

To learn more about how SS&C Algorithmics helped Unipol grow its business through improved risk modeling, watch the videos below with Gian Luca De Marchi, Chief Risk Officer at Unipol Gruppo and Mina Wallace, EVP & General Manager at SS&C Algorithmics.

 

 

 

SS&C - Unipol Case Study - Market Resilience - Final - Subs

 

 

SS&C - Unipol Case Study - Collaboration - Final - Subs

 

 

SS&C - Unipol Case Study - Climate Risk - Final - Subtitles

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