Data remains problematic with internal models: PRA

Insurance companies have continued to encounter difficulties in
adopting consistent data management in the internal model approval
process (Imap), according to a Solvency II data review by the
Prudential Regulation Authority (PRA).
Released today (9 February) the findings come from a review of
over 50 firms in the Imap to assess the quality of data used in
internal models.
It found problems with data ownership, with large firms in
particular struggling to ensure that data producers and data
cons