ABACUS Solvency II
Working closely with insurance industry representatives, BearingPoint has developed a pan-European reporting solution for Solvency II that covers the standard and local requirements of regulators. It covers all Quantitative Reporting Templates (QRTs) currently defined by the European Insurance and Occupational Pensions Authority (EIOPA) and will be continuously adapted to reflect subsequent regulatory changes.
Built on the successful, well-established ABACUS/DaVinci technology platform (used extensively for regulatory reporting in Banking), ABACUS/Solvency II offers insurers a number of key benefits:
- Lower total cost of ownership - development and ongoing maintenance investment shared across multiple insurance companies
- Continuous adaptation to evolving regulatory requirements and functionality improvements
- Reduced Solvency II implementation cost by leveraging a defined QRT data architecture, normalized data model, extensive online mapping documentation
- Flexibility and ease of use - to integrate with the insurers’ diverse and complex IT landscapes
- Risk Mitigation - choosing an established, up-and-running solution helps reduce risk
- Highly-responsive support team and knowledgeable consultants Europe-wide (for rapid implementation and efficient data mapping)
BearingPoint offers a complete service portfolio including Solvency II transformation support, a professional helpdesk as well as ongoing solution adaptations.
- Celent - Solvency II IT Vendor Spectrum (2012 Edition) - Download (PDF, 286 KB)
- PAC - Survey finds insurers need to address Pillar 3 of Solvency II as deadline looms - Link to the PAC blog
- Ovum - BearingPoint builds on its Basel II platform to target Solvency II opportunities - Link to the Ovum website
In the press:
Your contact in Sweden