We have a robust and integrated solution from SCR Calculations through to ORSA and then QRT & XBRL reporting. All presented to the user in a highly usable Excel-based application, users can configure the inputs and outputs to be within a single workbook or split across multiple workbooks.
We support both the Solvency II SCR calculation and Solvency UK SCR calculation regimes, the same applying to all 3 pillar modules, we support clients across the full range of EEA countries and the UK.
Our SCR calculation validation module extends across all modules of the system. For example source data level validations eg Best Estimate cash flow inputs are checked for consistency (internal and against other datasets such as TPs) to highlight data issues BEFORE QRT validations are run.
We have all SCR modules and sub-modules included (fully automated market risk concentration risk sub-module and partially automated SCR CAT risk calculations).
Also risk margin is calculated (with options to select the method from EIOPA’s allowed options).
Governance controls around the whole system all inputs (and outputs) are locked with user access configurable. Full audit trail of all inputs and calculations performed.
There are several Solvency II SCR Calculation providers available in the market for insurers. Our big differentiating factors include:
- Very intuitive, fast and easy to use and follow interface ( you can quickly follow calculations through in Excel, there are no black-box elements). Not a clunky overwhelming system!
- Robust, trusted and proven solution across UK / EEA for over 10 years. Licensed by Big 4.
- Full end to end Solvency II / UK solution that includes SCR Calculations, following on to a flexible and highly configurable ORSA module, with data flowing automatically through to QRTs, NSTs and XBRL for reporting.
- Full governance, audit and process control features (sign off, audit trail, user access, rollback, workflows etc).
- We are ISO 27001 certified, we follow a secure and robust development process.
To book in a demo, follow this link:
If you would like to know more about the Solvency UK review, please see the follow links:
EIOPA SCR Directive