Optimized Solvency II reporting for reliable reporting processes with less effort.
Our best-practices become your quick wins!
Topics to be considered to relief pressured regulatory reporting deadlines.
Each landscape is unique, however we do see that best-practices apply.
Preparing the data for the reporting can be cumbersome, especially when errors are not detected timely and the actual system support is insufficient. As a result time consuming manual interventions and/or corrections are required with a major risk for new errors and more re-work.
Over the years we learned that data validation, user-friendly error reporting and governed processing are essentiel ingredients for reliable data management. SecondFloor worked with 100's insurers over the past 10 years to improve Solvency II reporting processes. Based upon that experience we can offer the unique combination of control and flexibility in data management with full data lineage.
In the typical IT landscape of the insurer there are several systems, across departments and external, involved to prepare the regulatory reporting. When this only concerns input data, a DWH can help resolve integration. Often however (input) data needs to be processed across several systems, departments and functions to produce the final reports.
It is our best-practice to automate and integrate the steps of the reporting process with our software. The design of such a solution is always based stakeholders needs, the IT landscape and the roles and responsibities involved. We design solutions for any size of insurance company using our proven scalable platform.
It is not uncommon that different functions in the reporting process use different systems. As a result different layers prevent efficient collaboration and the reporting process becomes error prone.
A streamlined reporting process means to facilitate collaboration across departments, functions and systems to properly support all roles and responsibilities within the reporting process including its governance structure. Our software puts you in control of the reporting, so you can stay in control of the business.