SecondFloor announces a new partner in Austria with its established cooperation with Arithmetica. Working with joint customers we discovered that our services are strongly complementary. Together we can offer insurance companies an end-to-end solution for Solvency II. The companies aim to further grow the customer base in Austria and abroad.
The European Insurance and Occupational Pensions Authority (EIOPA) submits Implementing Technical Standards on reporting and disclosure and publishes the final Taxonomy version 2.2.0.
The International Accounting Standards Board (the Board) has issued IFRS 17 Insurance Contracts. This first truly international IFRS Standard for insurance contracts will help investors and others better understand insurers’ risk exposure, profitability and financial position.
Another step in successfully growing our partner network, SecondFloor announces a new partner BG Actuary in Bulgaria. The cooperation is an effect of the popular free QRT tool provided by SecondFloor during the Quantitative Impact Studies five years ago. Closing this partnership confirms SecondFloor’s long-term commitment to the market.
Porsche Versicherungs AG in Austria selected the Solvency II service by SecondFloor as T4U replacement. The Solvency II Service is a subscription based solution for regulatory reporting supporting all 3 Pillars of Solvency II. Porsche preferred the service for its; user friendliness, the quality of support and the hassle-free implementation.
SecondFloor updated its Solvency II service for Taxonomy 2.1.0 support in December 2016 with success. The effort was aimed to timely support our clients for the quarterly Q4 2016 filing. The update of the taxonomy and templates was well in time for our customers to comfortably go through their quarterly filing.
SecondFloor cooperates with Shanzer Risk Management as Reseller for its Solvency II solutions in Israel. The Israeli regulator started the implementation of a Solvency II like regime. As a result insurance companies in Israel need to start with the implementation of the new regulation. Given that the Israeli legislation is derived from the EIOPA Solvency … Read More
In January SecondFloor completed the Taxonomy 2.1.0 upgrade for the Solvency II service customers. Our customers are now able to execute quarterly and annual regulatory filings according the version 2.1.0 of the Taxonomy, published by EIOPA.
The Dutch regulator DNB reports that the implementation of the actuarial function in insurance companies can be improved. DNB investigated the ongoing implementation of the actuarial function at 9 insurances companies of different sizes. The implementation cannot be considered completed, and the governance needs to be improved.
Hereby SecondFloor wants to announce its new CEO Bart Oortwijn. Bart takes over from former CEO Rene van Erp, who has been leading the company in the development of its insurance risk management product and cloud offering.
With the target Go Live date set for 2021, IFRS 17 is all set to be the next global accounting standard for insurance contracts. This transparent, forward looking and yet common standard that can facilitate comparison between products, companies and across jurisdictions follows closely on the heels of Solvency II.
SecondFloor established a partnership with H. Pierson in Nigeria to support the introduction of Solvency II in the country. The introduction of a Solvency II like regime in Nigeria will be based on the implementation Europa with local adjustments.