s o l v e n c y
WHAT IS INvSIGHT SOLVENCY?
Solvency is the INvSIGHT application that solves all the quantitative, managerial, analytical and reporting requirements demanded by Solvency II for insurance companies.
AT WHOM IS IT DIRECTED?
INvSIGHT Solvency facilitates the collaborative development between departments of all the analytical, computational and regulatory compliance tasks.
MAIN FEATURES
Attending to the different pillars in which Solvency II is organized, the following characteristics stand out:
Repository
- Datamart with all the structured information related to Solvency II for every calculation.
- Intuitive information loading using templates based on spreadsheets.
- Direct integration with other systems and databases owned by each company.
- Automatic load of public data coming from EIOPA (yield curves, symmetric adjustment, etc).
Pilar I
- Construction of the economic and accounting balance sheet for Solvency.
- SCR and MCR calculation engine:
- Adjustable calculations (matrices, shocks, etc.) for simulation, stress test scenarios and ORSA.
- Modalities of individual and group calculation.
- Possibility of integration of internal models.
- Risk Margin implemented by several methodologies.
Pilar II
- SCR based on the business plan and the risks inherent to the entity (quantitative ORSA).
Pilar III
- Generation of QRT regulatory reports in the format requested by the supervisor entity (XBRL, MS Access and Excel).
- Support for the modalities Individual, Third countries and Group.
- Support to the reporting of internal models.
- Aid in the preparation of SFCR and RSR.
Other features
- Delivery model as SaaS (Software as a Service)
- Web access for an application hosted in cloud.
- The only technical requirement is a standard web browser.
- Multi-user access according to profiles.
- Configurable language.
WHAT ADVANTAGES DOES IT OFFER?
- Unification of the work environment and the sources of information in relation to Solvency II.
- Homogeneous computation and results for every Solvency II requirement (QRTs, SCR, Risk Margin, BEL, Balance Sheets, etc)
- Seamlessly connection to the other applications within the suite (Assets, Liabilities/Reserves, Matching/ALM, etc)
- It facilitates traceability and avoids redundancy.
- Workflow simplification.
- Separation of responsibilities, execution and visualisation according to usage profiles.
- Fast implementation without particular technical requirements.
- Ease of use, personalization and learning.
- Adaptability to any company profile.
- Regulatory updates included within maintenance.
- Great capacity for simulation and analysis.