Milliman carried out a cross-disciplinary survey to find out what insurance companies understand and expect from an ORSA, the effort to complete an ORSA, and the benefits of doing so. It’s clear that the ORSA is in varying stages of development across the globe. Based on the survey results, there seem to be encouraging signs that the ORSA is already having a positive impact.
This article was published by the Casualty Actuarial Society (CAS), Canadian Institute of Actuaries (CIA), and the Society of Actuaries' (SOA) Joint Risk Management Section.