ABOUT

CLIENT : Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry. The fundamental purpose of this legislation is to protect policyholders and prevent a financial crisis in the European insurance industry by requiring insurers to implement sound economic risk management practices.

CHALLENGE : Chartis along with the major insurers across Europe have been heavily involved with streamlining and reengineering their processes to meet the requirements of the regulation. On top of which they have invested in building their own Internal Model to calculate the company’s solvency figure.

SOLUTION : With something so new to the market and no roadmap of how to inform 6000 user across Europe about a new regulation, Chartis contracted Sirenna to devise the training and communications solution. Chartis had a two level objective:
Provide the senior managers and board members including non-executive directors with detailed knowledge about Solvency II
Provide an awareness of the regulation to all the staff in Chartis Europe
Having performed a comprehensive Training Needs Analysis, Sirenna were able to establish the current level of knowledge for the top tier of the organisation including the Board. Mapping the results with the requirements of the Solvency II Regulation, Sirenna were able to design a bespoke course for the senior managers and board members at Chartis. Sirenna provided a multi-language e-Learning module for all staff, hosted on the Talent Connection Learner Management System and the Europe wide Intranet. The course was a highly interactive course and included a quiz to test understanding of the subject.

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