Liza Richardson - Challenges In The Insurance Industry

Liza Richardson, VP, Solutions - Finance Transformation at Aptitude Software Limited, provides an explanation of the challenges currently faced within the insurance industry.

“Over the last few years, it’s been an industry that’s been subject to a lot of regulation and regulatory change, and it’s just been one thing after another. They’ve had Solvency II come along, and now we’ve had IFRS 17.”

“It’s been a significant change for the insurance industry, and it’s really changed the way finance and the actuarial teams have to work together, and have to work together hand in hand instead of being two separate islands that used to do things. Now, you’ve had to automate the feeds from the actuarial systems and get them into the accounting.”