ABACUS Solvency II
Working closely with insurance industry representatives, we have developed a pan-European reporting solution for Solvency II that covers the standard and local requirements of regulators. It includes all Quantitative Reporting Templates (QRTs) currently defined by the European Insurance and Occupational Pensions Authority (EIOPA) and will be adapted to reflect subsequent regulatory changes.
How BearingPoint brings value
Our solution is built on the successful, well-established ABACUS/DaVinci technology platform used extensively for regulatory reporting in banking. Our ABACUS/Solvency II solution offers a number of key benefits:
- Lower total cost of ownership – as investment in development and ongoing maintenance is shared across insurance companies
- Continuous adaptation to reflect evolving regulatory requirements and improve functionality
- Reduced Solvency II implementation costs – by leveraging a defined QRT data architecture, normalised data model and extensive online mapping documentation
- Flexibility and ease of use – our solution is designed to integrate with insurers’ diverse and complex IT landscapes
- Risk mitigation – our established, up-and-running solution helps reduce risk
- Highly-responsive support team and knowledgeable consultants Europe-wide – enabling, for example, rapid implementation and efficient data mapping
We offer a complete service portfolio including Solvency II transformation support, a professional helpdesk and ongoing solution adaptations.
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