Insurer Brain

Definition:Broken links: Difference between revisions

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[[Definition:SolvencyArtificial capital requirementintelligence (SCRAI)]]
[[Definition:MinimumMachine capital requirementlearning (MCRML)]]
[[Definition:OwnDeep fundslearning]]
[[Definition:Natural language processing (NLP)]]
[[Definition:Computer vision]]
[[Definition:Predictive analytics]]
[[Definition:Predictive modelling]]
[[Definition:Algorithmic underwriting]]
[[Definition:Automated claims processing]]
[[Definition:Fraud detection]]
[[Definition:Optical character recognition (OCR)]]
[[Definition:Robotic process automation (RPA)]]
[[Definition:Chatbot]]
[[Definition:Large language model (LLM)]]
[[Definition:Generative artificial intelligence (GenAI)]]
[[Definition:Neural network]]
[[Definition:Supervised learning]]
[[Definition:Unsupervised learning]]
[[Definition:Training data]]
[[Definition:Algorithmic bias]]
[[Definition:Explainability]]
[[Definition:Black box model]]
[[Definition:Model validation]]
[[Definition:Telematics]]
[[Definition:Sentiment analysis]]
[[Definition:Decision tree]]
[[Definition:Data mining]]
[[Definition:Straight-through processing (STP)]]
[[Definition:Intelligent document processing (IDP)]]
[[Definition:Digital twin]]
 
 
 
[[Definition:Request for proposal (RFP)]]
[[Definition:Request for information (RFI)]]
[[Definition:Request for quotation (RFQ)]]
[[Definition:Vendor management]]
[[Definition:Third-party risk management (TPRM)]]
[[Definition:Service level agreement (SLA)]]
[[Definition:Key performance indicator (KPI)]]
[[Definition:Due diligence]]
[[Definition:Outsourcing]]
[[Definition:Insourcing]]
[[Definition:Preferred supplier]]
[[Definition:Supplier evaluation]]
[[Definition:Total cost of ownership (TCO)]]
[[Definition:Procurement lifecycle]]
[[Definition:Contract management]]
[[Definition:Master service agreement (MSA)]]
[[Definition:Statement of work (SOW)]]
[[Definition:Spend analysis]]
[[Definition:Category management]]
[[Definition:Strategic sourcing]]
[[Definition:Competitive tendering]]
[[Definition:Vendor lock-in]]
[[Definition:Subcontracting]]
[[Definition:Non-disclosure agreement (NDA)]]
[[Definition:Purchase order (PO)]]
[[Definition:Procure-to-pay (P2P)]]
[[Definition:Supplier onboarding]]
[[Definition:Benchmarking]]
[[Definition:Tail spend]]
[[Definition:Business continuity planning (BCP)]]
[[Definition:Sole sourcing]]
[[Definition:Single sourcing]]
[[Definition:Multi-sourcing]]
[[Definition:Nearshoring]]
[[Definition:Offshoring]]
[[Definition:Onshoring]]
[[Definition:Managed service provider (MSP)]]
[[Definition:Business process outsourcing (BPO)]]
[[Definition:Information technology outsourcing (ITO)]]
[[Definition:Vendor consolidation]]
[[Definition:Supplier diversity]]
[[Definition:Framework agreement]]
[[Definition:Blanket purchase agreement (BPA)]]
[[Definition:Rate card]]
[[Definition:Cost-benefit analysis (CBA)]]
[[Definition:Return on investment (ROI)]]
[[Definition:Value for money (VFM)]]
[[Definition:Negotiation strategy]]
[[Definition:Best and final offer (BAFO)]]
[[Definition:Invitation to tender (ITT)]]
[[Definition:Evaluation criteria]]
[[Definition:Weighted scoring model]]
[[Definition:Proof of concept (POC)]]
[[Definition:Pilot programme]]
[[Definition:Vendor risk assessment]]
[[Definition:Supplier scorecard]]
[[Definition:Contract renewal]]
[[Definition:Auto-renewal clause]]
[[Definition:Termination for convenience]]
[[Definition:Exit strategy]]
[[Definition:Transition plan]]
[[Definition:Change control]]
[[Definition:Scope creep]]
[[Definition:Escalation procedure]]
[[Definition:Governance framework]]
[[Definition:Steering committee]]
[[Definition:Stakeholder management]]
[[Definition:Demand management]]
[[Definition:Specification]]
[[Definition:Compliance requirement]]
[[Definition:Regulatory outsourcing obligation]]
[[Definition:Material outsourcing]]
[[Definition:Critical service provider]]
[[Definition:Concentration risk]]
[[Definition:Fourth-party risk]]
[[Definition:Supply chain risk]]
[[Definition:Right to audit clause]]
[[Definition:Data processing agreement (DPA)]]
[[Definition:Intellectual property rights (IPR)]]
[[Definition:Indemnification clause]]
[[Definition:Limitation of liability]]
[[Definition:Force majeure]]
[[Definition:Liquidated damages]]
[[Definition:Penalty clause]]
[[Definition:Earnback mechanism]]
[[Definition:Gain-sharing arrangement]]
[[Definition:Fixed-price contract]]
[[Definition:Time-and-materials contract (T&M)]]
[[Definition:Cost-plus contract]]
[[Definition:Outcome-based contract]]
[[Definition:Maverick spend]]
[[Definition:Spend under management]]
[[Definition:Savings target]]
[[Definition:Budget holder]]
[[Definition:Approval workflow]]
[[Definition:Delegated authority]]
[[Definition:Procurement policy]]
[[Definition:Ethical sourcing]]
[[Definition:Environmental, social, and governance criteria (ESG)]]
[[Definition:Sustainable procurement]]
[[Definition:Vendor performance review]]
[[Definition:Continuous improvement]]
[[Definition:Market analysis]]
[[Definition:Make-or-buy decision]]
[[Definition:Incumbent supplier]]
 
[[Definition:Gross written premiums (GWP)]]
[[Definition:Combined ratio (CR)]]
[[Definition:Underlying earnings]]
[[Definition:Underlying earnings per share (UEPS)]]
[[Definition:Underlying return on equity (URoE)]]
[[Definition:Net income]]
[[Definition:Solvency II ratio]]
[[Definition:Eligible own funds (EOF)]]
[[Definition:BasicContractual ownservice fundsmargin (CSM)]]
[[Definition:AncillaryNew ownbusiness fundsvalue (NBV)]]
[[Definition:TierNew 1business capitalvalue margin]]
[[Definition:Present value of expected premiums (PVEP)]]
[[Definition:New business contractual service margin (NB CSM)]]
[[Definition:CSM release]]
[[Definition:Technical margin]]
[[Definition:Technical experience]]
[[Definition:Net flows]]
[[Definition:Unit-linked]]
[[Definition:General account (GA)]]
[[Definition:Property and casualty insurance (P&C)]]
[[Definition:Life and health insurance (L&H)]]
[[Definition:Commercial lines]]
[[Definition:Personal lines]]
[[Definition:Reinsurance]]
[[Definition:Managing general agent (MGA)]]
[[Definition:Natural catastrophe charges (Nat Cat)]]
[[Definition:Prior years' reserve development]]
[[Definition:Claims reserve]]
[[Definition:Unwind of discount]]
[[Definition:Loss ratio]]
[[Definition:Expense ratio]]
[[Definition:Current year loss]]
[[Definition:Short-tail lines]]
[[Definition:Long-tail lines]]
[[Definition:Casualty insurance]]
[[Definition:Financial lines]]
[[Definition:Protection]]
[[Definition:Savings insurance]]
[[Definition:Endowment product]]
[[Definition:Single premium]]
[[Definition:Whole-life product]]
[[Definition:Bancassurance]]
[[Definition:Direct insurance]]
[[Definition:Motor insurance]]
[[Definition:Fire insurance]]
[[Definition:Workers' compensation]]
[[Definition:Group life insurance]]
[[Definition:Health insurance]]
[[Definition:Complementary health insurance]]
[[Definition:Retail motor]]
[[Definition:Social inflation]]
[[Definition:Market softening]]
[[Definition:Pricing cycle]]
[[Definition:Capital-light product]]
[[Definition:Surrender]]
[[Definition:Persistency]]
[[Definition:Underwriting]]
[[Definition:Pruning]]
[[Definition:Earn-through]]
[[Definition:Debt gearing]]
[[Definition:Restricted Tier 1 capital (RT1)]]
[[Definition:Tier 2 capital]]
[[Definition:TierLoss 3absorption capitalmechanism]]
[[Definition:Technical provisionsWrite-down]]
[[Definition:BestCredit estimate liability (BEL)spread]]
[[Definition:MarketInvestment value margin (MVM)grade]]
[[Definition:RiskHigh marginyield]]
[[Definition:Risk-freeCorporate interest rate term structurespread]]
[[Definition:VolatilitySolvency adjustmentcapital requirement (VASCR)]]
[[Definition:MatchingOrganic adjustmentcash (MA)upstream]]
[[Definition:TransitionalDividend measurepayout on technical provisions (TMTP)ratio]]
[[Definition:TransitionalTotal measurepayout on risk-free interest ratesratio]]
[[Definition:StandardShare formulabuy-back]]
[[Definition:InternalNormalized modelown funds generation]]
[[Definition:PartialOperating internal modelreturn]]
[[Definition:Undertaking-specificForeseeable parameter (USP)dividend]]
[[Definition:OwnComparable risk and solvency assessment (ORSA)basis]]
[[Definition:PillarConstant 1exchange rate basis]]
[[Definition:PillarScope 2effect]]
[[Definition:PillarIntercompany 3elimination]]
[[Definition:Solvency and financial condition report (SFCR)]]
[[Definition:Regular supervisory report (RSR)]]
[[Definition:Quantitative reporting template (QRT)]]
[[Definition:Market risk module]]
[[Definition:Counterparty default risk module]]
[[Definition:Life underwriting risk module]]
[[Definition:Non-life underwriting risk module]]
[[Definition:Health underwriting risk module]]
[[Definition:Operational risk module]]
[[Definition:Interest rate risk sub-module]]
[[Definition:Equity risk sub-module]]
[[Definition:Property risk sub-module]]
[[Definition:Spread risk sub-module]]
[[Definition:Currency risk sub-module]]
[[Definition:Concentration risk sub-module]]
[[Definition:Premium and reserve risk sub-module]]
[[Definition:Lapse risk sub-module]]
[[Definition:Catastrophe risk sub-module]]
[[Definition:Mortality risk sub-module]]
[[Definition:Longevity risk sub-module]]
[[Definition:Morbidity risk sub-module]]
[[Definition:Revision risk sub-module]]
[[Definition:Expense risk sub-module]]
[[Definition:Loss-absorbing capacity of technical provisions (LACTP)]]
[[Definition:Loss-absorbing capacity of deferred taxes (LACDT)]]
[[Definition:Symmetric adjustment to equity risk]]
[[Definition:Look-through approach]]
[[Definition:Prudent person principle]]
[[Definition:Contract boundary]]
[[Definition:Solvency II balance sheet]]
[[Definition:Economic balance sheet]]
[[Definition:Valuation hierarchy]]
[[Definition:Mark-to-market valuation]]
[[Definition:Mark-to-model valuation]]
[[Definition:Correlation matrix]]
[[Definition:Diversification benefit]]
[[Definition:Risk mitigation technique]]
[[Definition:Special purpose vehicle (SPV)]]
[[Definition:Insurance-linked security (ILS)]]
[[Definition:Fit and proper requirements]]
[[Definition:System of governance]]
[[Definition:Key function holder]]
[[Definition:Actuarial function]]
[[Definition:Risk management function]]
[[Definition:Compliance function]]
[[Definition:Internal audit function]]
[[Definition:Outsourcing policy]]
[[Definition:Group solvency]]
[[Definition:Group supervisor]]
[[Definition:College of supervisors]]
[[Definition:Accounting consolidation method]]
[[Definition:Deduction and aggregation method]]
[[Definition:Intra-group transaction]]
[[Definition:Risk concentration]]
[[Definition:Supervisory ladder of intervention]]
[[Definition:Capital add-on]]
[[Definition:Undertaking]]
[[Definition:Insurance undertaking]]
[[Definition:Reinsurance undertaking]]
[[Definition:Captive insurance undertaking]]
[[Definition:Captive reinsurance undertaking]]
[[Definition:Third-country equivalence]]
[[Definition:Delegated regulation]]
[[Definition:Implementing technical standard (ITS)]]
[[Definition:Regulatory technical standard (RTS)]]
[[Definition:European Insurance and Occupational Pensions Authority (EIOPA)]]
[[Definition:National competent authority (NCA)]]
[[Definition:Freedom of services]]
[[Definition:Freedom of establishment]]
[[Definition:Passporting]]
[[Definition:Home state supervision]]
[[Definition:Host state]]
[[Definition:Solvency II directive]]
[[Definition:Omnibus II directive]]
[[Definition:Line of business (LoB)]]
[[Definition:Homogeneous risk group (HRG)]]
[[Definition:Unbundling of insurance contracts]]
[[Definition:Profit sharing (discretionary benefits)]]
[[Definition:Future discretionary benefit (FDB)]]
[[Definition:Surplus funds]]
[[Definition:Ring-fenced fund]]
[[Definition:Subordinated liability]]
[[Definition:Value at risk (VaR)]]
[[Definition:Confidence level]]
[[Definition:One-year time horizon]]
[[Definition:Ultimate time horizon]]
[[Definition:Probability of default]]
[[Definition:Loss given default (LGD)]]
[[Definition:Proportionality principle]]
[[Definition:Materiality threshold]]
[[Definition:Expert judgment]]
[[Definition:Data quality]]
[[Definition:Validation of internal model]]
[[Definition:Use test]]
[[Definition:Statistical quality standard]]
[[Definition:Calibration standard]]
[[Definition:Profit and loss attribution]]
[[Definition:Pre-application process for internal models]]
[[Definition:Model change policy]]
[[Definition:Scenario analysis]]
[[Definition:Stress test]]
[[Definition:Reverse stress test]]
[[Definition:Sensitivity analysis]]
[[Definition:Reinsurance recoverables]]
[[Definition:Adjustment for expected losses due to counterparty default]]
[[Definition:Cash flow projection]]
[[Definition:Discounting of technical provisions]]
[[Definition:Expense allocation]]
[[Definition:Going concern assumption]]
[[Definition:Winding-up assumption]]
[[Definition:Solvency ratio (solvency coverage ratio)]]
[[Definition:Eligible own funds to meet SCR]]
[[Definition:Eligible own funds to meet MCR]]
[[Definition:MCR linear formula]]
[[Definition:MCR combined calculation]]
[[Definition:Absolute floor of the MCR]]
[[Definition:Recovery plan]]
[[Definition:Finance scheme]]
[[Definition:Participations]]
[[Definition:Related undertaking]]
[[Definition:Strategic equity investment]]
[[Definition:Duration-based equity risk sub-module]]
[[Definition:Transitional equity risk sub-module]]
[[Definition:Credit quality step (CQS)]]
[[Definition:External credit assessment institution (ECAI)]]
[[Definition:Liquidity premium]]
[[Definition:Smith-Wilson extrapolation method]]
[[Definition:Last liquid point (LLP)]]
[[Definition:Ultimate forward rate (UFR)]]
[[Definition:Convergence period]]
[[Definition:Fundamental spread]]
[[Definition:Assigned asset portfolio]]
[[Definition:Expected profit included in future premiums (EPIFP)]]
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