The Importance and Characteristics of Business Planning in the Context of Solvency II Concept

Mitrašević, Mirela and Paunović, Mihailo and Janković, Dragica (2017) The Importance and Characteristics of Business Planning in the Context of Solvency II Concept. In: Challenges and Tendencies in Contemporary Insurance Market. Faculty of Economics, Publishing Centre, Belgrade, pp. 381-395. ISBN 978-86-403-1522-7

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Abstract

Changes in economic and working environment, increasing competitiveness and complexity of the business of insurance imposed the need for flexible business planning, which can adapt to different styles of management, organizational structure and environment in which the insurance company operates. In this section, the characteristics of business planning of the insurance companies are being examined, followed by the way in which the new regulatory framework Solvency II does the projection of the insurer’s business plan inside the process of Own Risk аnd Solvency Assessment-ORSA.

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