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Solvency II Reporting

Designed for asset managers, Confluence's Solvency II Reporting automates data sourcing, calculation and report generation in accordance with the standardized EU-wide schema. The solution provides asset managers with the right toolkit to transform data into the information required to fulfill the industry template requirements of Solvency II reporting. The resulting report is then ready to send to your insurance clients for the calculation and monitoring of their Solvency Capital Requirement (SCR).

As part of the Confluence Regulatory Reporting platform, Solvency II Reporting reduces the reputational risk of inaccurate or late submissions due to manual processes, facilitates the SCR calculation and supports the data delivery for the insurance clients' Quantitative Reporting Templates (QRTs). The solution meets the requirements of insurance clients who have adopted the European Insurance and Occupational Pensions Authority (EIOPA) standard model for calculating their SCR.

Key Benefits

  • Reduce the reputational risk of inaccurate or late data submissions due to manual preparation
  • Remain a partner of choice by fulfilling insurance clients' needs accurately and efficiently
  • Reduce the ongoing cost of satisfying Solvency II data reporting through automation

Designed for asset managers, Confluence's Solvency II Reporting automates data sourcing, calculation and report generation in accordance with the standardized EU-wide schema. The solution provides asset managers with the right toolkit to transform data into the information required to fulfill the industry template requirements of Solvency II reporting. The resulting report is then ready to send to your insurance clients for the calculation and monitoring of their Solvency Capital Requirement (SCR).

As part of the Confluence Regulatory Reporting platform, Solvency II Reporting reduces the reputational risk of inaccurate or late submissions due to manual processes, facilitates the SCR calculation and supports the data delivery for the insurance clients' Quantitative Reporting Templates (QRTs). The solution meets the requirements of insurance clients who have adopted the European Insurance and Occupational Pensions Authority (EIOPA) standard model for calculating their SCR.

Key Benefits

  • Reduce the reputational risk of inaccurate or late data submissions due to manual preparation
  • Remain a partner of choice by fulfilling insurance clients' needs accurately and efficiently
  • Reduce the ongoing cost of satisfying Solvency II data reporting through automation

Key Features

  • Solvency II compliant calculations
  • Value-add computation of all sub-SCR market calculations
  • Scenario-based approach (Delta NAV)
  • Flexible data import and export tool
  • Full coverage of all instrument types
  • Audit trail of data changes
  • Automated workflow

How Unity Solvency II Reporting Works

Collect data – Data loading is managed and automated by Confluence using the connector tool. The connector tool can be configured based on the client data received.

Perform calculations – SCR Market calculations at the asset level are performed in the Unity Solvency II Reporting calculation engine. Automated error checking validates data accuracy and flags exceptions early for remediation.

Report generation and approval – The automated workflow within Unity Solvency II Reporting generates a report draft based on a standardised template, drives the review and approval process, and ensures that gaps are addressed and that the report content is approved before it goes to the client.

File the report with insurance clients – Once the Solvency II report is complete and has received approval, it can be submitted to the client electronically in a customised and branded format.