Solvency II Service

No.1 pain-free T4U replacement

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What to do after T4U support stops?


  • In the complex landscape of Solvency II reporting, insurance companies will face new challenges such as shorter reporting cycles, generating a fully auditable process, keeping up with regulatory changes, and the imminent decomissioning of T4U.

    Therefore SecondFloor has developed a unique Solvency II Solution, which gives those insurance companies an instant benefit and ease of mind. It combines Pillar 1 calculations with Pillar 3 reporting, XBRL generation, regulatory update service, and auditability. All with the focus of reporting in the most efficient and economical way to stakeholders and the regulator.

  • Regulator

A T4U replacement including qualitative and quantitative reports

Enrich your organization with our Solvency II Service

With a track record of providing complex solutions for the 3 largest insurance companies in Europe and serving numerous insurance companies within Europe, the Solvency II Solution has an excellent reputation in the industry as a replacement for T4U – served in the cloud.

The solution of SecondFloor uniquely combines the following characteristics in a very user friendly solution already used by a lot of companies throughout various countries all over Europe:

  • An upload mechanism for the input templates
  • A SCR / MCR Standard Model calculation engine
  • A QRT and annual reporting tool producing these reports in visual format with internal 4eyes principle sign off
  • A XBRL generator

This solution is cloud based and therefore has very small impact on your IT resources. Moreover, it also offers the following important range of benefits:

For more information regarding pricing and features, please look below. And feel free to contact us at any time to inform you in more detail or request a free trial!


Reporting Challenges

NST In addition to EIOPA input templates, SecondFloor’s Solvency II Service includes the National Specific Templates (NST) and Central Bank reporting templates for local regulators in Europe.

Protected Cell Company Additonally our framework supports various customers with Protected Cell Company consolidation, such as found in Gibraltar and Malta, in order to submit a consolidated PCC submission, aggregating all Cells and the Core.

Editions


Features

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  • # environments
  • # solo’s
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  • Generate QRTs
  • EIOPA validations
  • XBRL generation
  • EIOPA taxonomy updates
  • Country specific templates
  • 4-eyes principle
  • Full audit trail
  • SCR/MCR calculations
  • Standard Formula Updates
  • RSR/SFCR reporting
  • ORSA reporting
  • Group QRTs
  • Team collaboration
  • Configurable Governance Model
  • Ring fenced funds

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