InfoCat are pleased to be working with IBM in the delivery of a solution to the insurance industry's Solvency II, Pillar 3 reporting requirements
Over the past year, most insurers have been slowing down their Solvency II programmes, in particular the reporting requirements demanded under Pillar 3, due to the uncertainty over the final implementation date. But that now needs to change, with the necessary legislation having now been approved by the EU Parliament and Solvency II coming into force from January 2016.
Implementing the Pillar 3 reporting requirements is far from trivial. With such a limited time before the deadline, we urge insurers to look at a packaged reporting solution, rather than try to build a system from scratch in-house.
Specifically, we provide an application that builds directly onto your existing Pillar 2 processes:
- Pre-built Pillar 3 reporting database schema
- Over 60 comprehensive pre-built reports
- XBRL and iXBRL output for submission to the regulatory bodies
Rather than tie up senior actuaries, finance managers and IT personnel for many months in a major systems development project, talk to InfoCat now about our "buy not build" solution.