Our ORSA modelling software module is now available to SCR module customers. Please get in touch for a demo of our ORSA application functionality, which enables to you to setup multi-dimensional stress tests and see the impact on your SCR and SCR ratio. The Solvency II ORSA (also Solvency UK) module allows you to project the stresses over several years. You can setup as many scenarios as you can conceive, including writing entirely new business lines or taking on new investment classes (not just modification of existing).
Tabular is an integrated software platform and the ORSA module fits into the overall application between the SCR and QRT reporting modules. The Tabular app is designed for data to flow through the process end to end with minimal manual intervention. Both Solvency II ORSA and Solvency UK ORSA is supported by the tool.
Key aspects of ORSA requirements:
- Risk Assessment: ORSA requires insurers to identify, measure, and prioritize material risks, including both internal and external factors.
- Strategic Alignment: It links risk assessment with business strategy, capital management, and stress testing, ensuring that risks are considered in strategic planning.
- Prospective View: ORSA takes a forward-looking perspective, typically considering the next 3-5 years, to assess future capital needs and solvency.
- Quantitative and Qualitative: ORSA involves both quantitative assessments (e.g., calculating capital requirements) and qualitative descriptions of material risks.
- Regular Reporting:Insurers are required to submit the results of their ORSA to the supervisory authority, usually on an annual basis.
Purpose of Solvency II ORSA:
- Demonstrate solvency: Solvency II ORSA helps demonstrate that the insurer has sufficient financial resources to meet its obligations to policyholders and other stakeholders.
- Inform decision-making: Solvency II ORSA provides valuable information for the board and senior management to make informed decisions about the company’s strategy, risk appetite, and capital management.
- Embed risk management: It encourages a strong risk culture within the organization by integrating risk management into day-to-day operations and strategic planning.
For BoE update on Solvency UK ORSA (November 2024) please follow this link:
If you would like to either book in a demo or take trial of our ORSA software solution, please leave your details here:
Key Benefits of Using our ORSA Solution
1. Integrated Risk and Capital Assessment
The module allows firms to link their risk appetite, strategy, and solvency position in a coherent manner. It integrates seamlessly with the Standard Formula, ensuring that the ORSA reflects the actual risk profile of the undertaking, not just regulatory capital. This alignment supports both regulatory compliance and internal risk governance.
2. Automation and Auditability
By automating data flows, calculations, and documentation, the ORSA module significantly reduces manual effort and the risk of errors. It includes audit trails, version control, and workflow features, which make it easier to manage approvals and to demonstrate governance to supervisors. These features also improve collaboration between risk, actuarial, and finance teams.
3. Scenario and Stress Testing
The module supports flexible scenario design and stress testing, both prescribed and user-defined. It helps firms assess resilience under adverse conditions and link those results to business decisions and capital planning. This enables insurers to perform forward-looking assessments aligned with Strategic Business Planning and Board engagement.
4. Regulatory and Supervisory Alignment
It includes templates and documentation tools that align with EIOPA guidelines and national supervisory expectations, ensuring the output is regulator-ready.
5. Customisation and Scalability
Built to accommodate a wide range of insurers—from solo entities to complex groups—the module is highly configurable to reflect the structure, risk appetite, and materiality of each firm. It also supports multi-year projections, group-level aggregation, and what-if analyses, making it adaptable for both BAU use and strategic planning.
6. Integration with SCR & QRT Reporting
Our module fully integrates with our other modules, meaning you have 1 set of input templates and the data is shared across the fully integrated system.
7. Work in 1 Excel Workbook – for the whole process!
No ‘clunky’ cloud integration or downloading / uploading. All modules in 1 workbook, SCR, ORSA, QRTs. Even though you are working in Excel, we have full enterprise governance features embedded and a powerful database sitting behind the workbook. Great performance and multiple users can work in parallel.