A Fuzzy Expert System for evaluating the responsiveness of Italian insurance companies to the “Solvency 2 storm”

Abstract

The “Solvency II” directive will be enforced starting from 2016. The insurance and reassurance companies have asked to reflect upon ways of adapting to the new rules and to consider value creation strategies under the new constraints. An Observatory was started for understanding how open Italian insurance companies are to change and how the announced rules influence the current operations. In order to monitor the behaviour of the companies over the years and evaluate the responsiveness to the new regulatory requirements of the Italian insurance Companies, a Fuzzy Expert System (FES) was developed. The objective of this work is to show the evaluation/monitoring tool created for the observatory. The special feature of the FES is to be created exclusively on judgments and not on objective data.