Insurance

Solvency II / ORSA (Own Risk and Solvency Assessment) Optimization Training

Introduction

Solvency II and ORSA (Own Risk and Solvency Assessment) represent the foundation of effective risk-based capital and governance frameworks in the insurance and reinsurance sectors. As regulatory environments grow increasingly complex, insurers must not only comply with Solvency II requirements but also strategically optimize their ORSA processes to drive sustainable growth and financial resilience. Training Course on Solvency II / ORSA (Own Risk and Solvency Assessment) Optimization is meticulously designed to equip professionals with practical tools, regulatory insights, and optimization strategies to enhance compliance, capital efficiency, and enterprise risk management under Solvency II Pillars I, II, and III.

In today’s dynamic financial and regulatory landscape, insurers face heightened scrutiny regarding solvency margins, capital adequacy, and forward-looking risk assessments. This course integrates high-impact methodologies, case-based learning, and hands-on exercises that guide participants through risk appetite articulation, internal model validation, reporting obligations, and continuous ORSA improvement. By the end of the training, attendees will gain the expertise to optimize Solvency II implementation and enhance board-level risk decision-making capabilities.

Programme Curriculum

Solvency II / ORSA (Own Risk and Solvency Assessment) Optimization Training

Introduction

Solvency II and ORSA (Own Risk and Solvency Assessment) represent the foundation of effective risk-based capital and governance frameworks in the insurance and reinsurance sectors. As regulatory environments grow increasingly complex, insurers must not only comply with Solvency II requirements but also strategically optimize their ORSA processes to drive sustainable growth and financial resilience. Solvency II / ORSA (Own Risk and Solvency Assessment) Optimization Training equip professionals with practical tools, regulatory insights, and optimization strategies to enhance compliance, capital efficiency, and enterprise risk management under Solvency II Pillars I, II, and III.

Course Objectives

Understand the Solvency II regulatory framework and its three pillars.
Conduct effective Own Risk and Solvency Assessments (ORSA) aligned with regulatory best practices.
Leverage enterprise risk management (ERM) to enhance capital planning.
Integrate governance and internal control systems in the ORSA process.
Apply stress testing and scenario analysis for risk quantification.
Build robust ORSA reporting templates for stakeholders and regulators.
Link strategic decision-making with capital optimization.
Evaluate and refine internal models for solvency calculations.
Enhance board engagement through risk dashboards and KPIs.
Identify and mitigate emerging and systemic risks.
Implement data-driven solvency optimization strategies.
Align ORSA with sustainability and ESG risk management.
Benchmark against market-leading ORSA practices.

Target Audience

Chief Risk Officers (CROs)
Compliance Officers
Insurance Actuaries
Financial Controllers
Enterprise Risk Managers
Internal Auditors
Regulatory Affairs Specialists
Senior Executives in Insurance & Reinsurance

Course Duration: 10 days

Course Modules

Module 1: Overview of Solvency II Framework

Introduction to Solvency II directive
The three pillars of Solvency II explained
Regulatory objectives and scope
Impact on insurance operations
Key compliance timelines
Case Study: A European insurer's transition to Solvency II

Module 2: Introduction to ORSA

Definition and components of ORSA
Purpose and regulatory expectations
Embedding ORSA into business strategy
ORSA cycle and planning
Supervisory reporting requirements
Case Study: Aligning ORSA with strategic planning

Module 3: Risk Appetite & Risk Profile

Defining risk appetite and tolerance levels
Assessing the company’s risk profile
Integration with ORSA process
Communication of risk appetite to stakeholders
Common pitfalls in risk articulation
Case Study: Development of a risk appetite framework

Module 4: Governance & Control Systems

Solvency II governance requirements
Role of key functions (actuarial, risk, compliance)
Board and senior management responsibilities
Control mechanisms for risk oversight
Governance self-assessment tools
Case Study: Governance gaps in ORSA submission

Module 5: Risk Identification and Quantification

Approaches to identifying material risks
Risk classification under Solvency II
Quantitative and qualitative risk tools
Use of Key Risk Indicators (KRIs)
Regulatory expectations for risk documentation
Case Study: Building a comprehensive risk register

Module 6: Internal Model vs. Standard Formula

Comparison of the two approaches
Internal model development and validation
Advantages of model-based approaches
Regulatory approval process
Use of models in strategic decision-making
Case Study: Implementing an internal model in a mid-sized insurer

Module 7: Capital Planning & Solvency Capital Requirements (SCR)

Calculating SCR using standard formula
Adjustments and recalibrations
Economic capital vs. regulatory capital
Group solvency requirements
Capital contingency planning
Case Study: Stress test results and SCR recalculations

Module 8: Pillar II Requirements

The role of the ORSA in Pillar II
Qualitative supervisory reviews
Risk governance and culture
Link between Pillar I and Pillar II
Enhancing board-level awareness
Case Study: ORSA as a tool for Pillar II effectiveness

Module 9: Stress Testing & Scenario Analysis

Purpose and methodology
Tail-risk modeling
Reverse stress testing
Integrating scenarios into ORSA
Communication of stress results
Case Study: Designing pandemic scenario simulations

Module 10: Reporting and Disclosure under Pillar III

Quantitative Reporting Templates (QRTs)
Narrative reporting requirements
Disclosure to regulators and public
Automating reporting processes
Internal vs. external disclosure risks
Case Study: QRT automation in large insurers

Module 11: Embedding ORSA in Strategic Decisions

Making ORSA a decision-making tool
Linking ORSA to performance management
ORSA in mergers and acquisitions
Budget and business planning integration
Forecasting solvency positions
Case Study: ORSA-driven market expansion decision

Module 12: Emerging Risks & Climate-Related Risk

ESG risks under Solvency II
Regulatory trends on climate disclosures
Integrating sustainability risks into ORSA
Managing reputational and transitional risks
Scenario planning for climate change
Case Study: ESG integration into risk reporting

Module 13: Continuous ORSA Improvement

Periodic vs. event-triggered ORSA
ORSA maturity assessment
Enhancing risk culture
Use of internal audit to improve ORSA
Feedback loops and quality assurance
Case Study: Redesigning ORSA for agility and innovation

Module 14: Market Benchmarking & Best Practices

International comparisons (EIOPA, NAIC, IAIS)
KPIs and peer analysis
Regulatory fines and lessons learned
Key success factors in ORSA optimization
Leveraging industry thought leadership
Case Study: Benchmarking top EU insurers' ORSA practices

Module 15: Capstone: Building an ORSA Framework

Developing a roadmap
Assigning responsibilities and timelines
ORSA governance checklist
Real-world implementation challenges
Stakeholder engagement and buy-in
Case Study: Designing a full ORSA lifecycle for a startup insurer

Training Methodology

Instructor-led sessions with interactive Q&A
Group discussions and breakout activities
Real-world case study evaluations
Practical tools and templates provided
Hands-on exercises and scenario simulations
Digital copies of course materials for ongoing reference

Register as a group from 3 participants for a Discount

Send us an email: info@fineskilltrainingcenter.org or call +254769199797

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to Fineskill Training Center account, as indicated in the invoice so as to enable us prepare better for you.

Skills & Software Covered

Solvency II ORSA Insurance Risk Assessment

Programme Fee

Duration: 10 Days

Method: Online or Physical

Online Price: $2,000

Physical Price: $3,000

Certification: Accredited Certificate

View Available Dates 📄 Download Course Outline (PDF)

Available Sessions

Location

Month

Year

Oct 19 2026

19 Oct — 30 Oct 2026

💻 Online / Virtual session

Online $2,000