Fund managers who help their insurance clients navigate the complexities of Solvency II reporting could see their business grow in the next year, according to a new study by Silverfinch.
The study points out that a key part of the new regulations involves insurers needing to have access to information about their holdings, including details of the funds in which they invest. This will result in a steep increase in the volume and detail of reporting that fund managers will need to give to clients.
Failure to access this data will lead to insurers having to increase capital reserves and as a result, possibly having to cut fund holdings.
However, according to Silverfinch giving insurers access to this data will boost some fund managers, as those that can provide more data to their clients will win business from those who provide less.
Fund managers will also be able to find out more about their clients as a result of the interaction between insurers and the fund companies.
According to Silverfinch the only credible solution that meets fund manager and insurer needs is a single point of access, which would allow fund managers to exchange information with their clients in a secure format, reducing operational and legal cost and effort.
Companies:Silverfinch