MaGo

The MaGo sets out the requirements for the business organisation of insurance companies under Solvency II. It covers governance, risk management, internal control systems, and the handling of outsourcing arrangements. For IT service providers, the outsourcing section is of particular importance: insurers must carefully select, contractually safeguard, and monitor their material outsourcing arrangements. With the introduction of DORA, the ICT-related requirements for insurers have largely transitioned into the European regulatory framework.

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For IT service providers with insurance clients, MaGo translates into concrete audit and documentation obligations. The insurer must demonstrate that it has its outsourcing arrangements under control and passes this on in the form of questionnaires, requests for evidence, and audit rights. The content overlaps significantly with DORA and outsourcing inquiries from other clients. Those who handle these supervisory-driven inquiries confidently remain capable of delivery in the insurance sector.

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With Tendry, you answer MaGo-driven inquiries from your insurance clients from a verified, reusable knowledge base. How insurers manage their outsourcing arrangements on the buyer side is demonstrated by our platform Leno.

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