"buying a license of the Solvency-Tool is your best way to handle SCR, ORSA, Reporting packages with one software - the SolvencyTool"
Mrs. Z. Basic
We are your partner
Working in the insurcance industry since 1991, we have a lot of experience to share with you.
We will analyze your process to establish the best efficient way to our Solvency II - tool.
SolvencyTool has experience from many European clients. Some companies are well prepared for the Solvency II regime but many still face challenges.
You might find similar situations in your own company and if not - consider your preparations to be above average.
Take a sneak peek into the typical challenges that are addressed by SolvencyTool for insurance companies across Europe.
Solvency Capital Requirement
- It can be difficult to find all the relevant data.
- The use of spreadsheets makes it hard to get a proper audit trail and makes the reporting over time a challenge.
- EIOPA's many publications are time consuming to read.
- Local financial authorities are starting the pre-implementation of Solvency II.
-Some parts of legislation can be technical and hard to fully understand.
ORSA & Regulatory Reporting
ORSA process and documentation
-It can be difficult to decide whom from the organisation should be a member of the risk committee.
-It seems unclear which risk management processes are required under Solvency II.
-Documentation needs are not specific, leaving too much room for interpretation.
-The table of contents for ORSA is hard to decide on.
Reporting to financial authorites
-The templates are numerous and technical.
-There are lots of codes and cross checkings.
-It is difficult to get an overview of the relevant templates.
-Integration between calculations and reporting require a database system with transparent audit trails.
our competence skills: