Brighter Consultancy Blog

Discover how better data is transforming finance functions, enhancing regulatory compliance, and driving efficiency in the evolving landscape of financial services.

The FCA's growth agenda for insurance emphasizes innovation and responsible regulation, urging firms to leverage AI while ensuring strong risk management and consumer outcomes.

Discover the hidden costs of poor financial data and learn how to enhance data quality for better reporting, compliance, and decision-making in your organization.

Explore how London Market insurers are migrating to the cloud to enhance efficiency, improve data management, and ensure operational resilience amidst evolving demands.

Explore how sustainable finance is transforming the UK's economy, shaping investment strategies, and addressing climate risks for long-term value creation.

Explore the growing skills gap in the actuarial and finance sectors and discover strategies for attracting and retaining top talent to ensure long-term success.

Explore how AI is revolutionising actuarial and finance functions, enhancing data analysis, risk modeling, and regulatory compliance while maintaining professional judgment and governance.

Rebalance insurance finance MI by transforming data-heavy board reports into actionable insights for better decision-making and strategic oversight.

Discover how inflation volatility challenges traditional actuarial methods and the innovative strategies insurers can adopt to navigate this unpredictability effectively.

Get ready for CP19/24: Modernize data and reporting for UK insurers to enhance transparency, accuracy, and regulatory compliance. --- In this blog post, we delve into the Prudential Regulation Authority's (PRA) consultation paper CP19/24, released on December 11, 2024, which aims to close liquidity reporting gaps and streamline Standard Formula reporting for UK insurers. This regulatory update is more than just another compliance mandate; it’s a significant opportunity for finance and reporting professionals to reassess their data management practices, modernize systems, and prepare for future demands. Understanding CP19/24: What’s Changing and Why It Matters CP19/24 is part of the PRA’s broader efforts to simplify and strengthen regulatory reporting for UK insurers. Building on previous regulations, it introduces changes to templates, data requirements, and validation rules under Solvency II and related frameworks. The goal is to make reports more reliable and comparable across the industry by revising certain templates, removing