Kind of interesting being involved at the very bleeding edge of international finance chicanery.
You learn all kinds of things, like e.g.:
From extreme solvency crisis (Late 2007, you might remember) to proposed legislative solution: 1½ years
(Solvency II Directive 2009)
From proposed solution to law actually passing:
(“Following an EU Parliament vote on the Omnibus II Directive on 11 March 2014,…”)
From law passing until law actually takes effect:
(“…Solvency II came into effect on 1 January 2016.”)
From taking effect until our finance customers feel they maybe need our help finding a way to circumvent some of the nonsense in the law:
(No citation here, Don’t want you doxxing me and also there may be an NDA)
From us making a deal with our customers to us actually looking into how to get around some of the nonsense:
Half a year
(No citation, NDA etc./)
From us looking into the problem to the problem actually being solved (in the software):
From the problem being solved in the software until realizing relevant data providers can’t actually provide relevant data:
Negative half a year, they were being intransigent from the first fucking day before I even started coding.
Anyway long story short, if your insurance (in Europe) is more expensive than you expected, it’s because your insurance company can’t play quite as fast and loose with how the word “Solvent” is defined as they could two years ago, and also because they have to pay me money to code work-arounds.