The Own Risk and Solvency Assessment (ORSA) has become an integral part of the insurance industry's landscape since the introduction of Solvency II. This year, many (re)insurers will run their ORSA process for the tenth time. In recognition of this milestone, we look at whether ORSA is delivering on its original aim, and if the annual process is adding value to Irish (re)insurers. This briefing note highlights:
- Areas of best practice that have emerged in recent years.
- Opportunities for improvement to increase the value-add from the annual ORSA process.
- How to know if your ORSA is adding sufficient value.