E-commerce: Solvency II to make brokers more accountable for data
Brokers with delegated authority may face increasing pressure from insurers to account for the whereabouts of data as the industry prepares to meet Solvency II regulations.
Set to 'go live' in November 2012, Solvency II will require insurers to be responsible for client data whether it is stored internally or outsourced to a third party.
Rob Stavrou, a director at e-business consultancy Northdoor, said this demand had made insurers cautious of cloud computing and that they could be equally worried about the brokers they deal with outsourcing data they will ultimately be responsible for.
"Solvency II is focused on the industry understanding data and being able to
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