g e o c a t
WHAT IS INvSIGHT SOLVENCY?
It is a compliance application in INvSIGHT that supports the solvency capital requirement calculation for catasrophic risk ruled by the Solvency delegated regulation, (UE) 2015/35 and (UE) 2019/981.
AT WHOM IS IT DIRECTED?
It is targeted to those risk cotrollers of insurance companies handling Non Life policies who want to reinforce and improve the accuracy of catastrophic SCR (Solvency Capital Requirement) by fire through geolocation techniques.
MAIN FEATURES
Input data
- Parameterisation of real state properties:
- Physical attributes: address, usage type, etc
- Policy attributes: line of business, insurance cover, insured amount, reinsurance, etc.
- Bulk load of properties by means of a template.
Geocoding
- Connection to an official geographic service depending on availability.
- Automatic geographical positioning by coordinates..
- Quality control for missing addresses.
Clusterisation
- Rankings of concentration according to the two accepted methodologies:
- By insured amount in certain conditions, ruled by (UE) 2015/35.
- By top five insured amounts depending on property usage, ruled by (UE) 2019/981.
- Calculation and location of clusters through several approches customizable by the user.
- Geographical and interactive visualization of the results.
Reporting and integration
- Comparison report of the results according to the different methodologies and variants.
- Validated results exportation to INvSIGHT Solvency or any other solvency software owned by the company in order to compute the catastrophe SCR.
WHAT ADVANTAGES DOES IT OFFER?
- Involved processes automation.
- Aided interpretation and results visualization.
- Historical record with the calculations evolution.
- Auditing aid and tracking.
- Optimal and accurate SCR for catastrophe risk.
- Straight forward connection to INvSIGHT Solvency for a full company calculation of SCR.