Supervisory ReportingThe Insurance Recovery and Resolution Directive (IRRD) introduces a new EU-wide framework to ensure insurers are prepared for financial distress, recovery, and—if necessary—orderly resolution.
Adopted in November 2024 and applicable from 30 January 2027, IRRD strengthens policyholder protection, safeguards financial stability, and minimizes reliance on public funds.
IRRD applies to insurers and reinsurers already within the scope of Solvency II and overlays new recovery and resolution requirements without changing the regulatory population. For insurers, this means new reporting, planning, and submission obligations on top of existing prudential processes.
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Why choose the IRRD Reporting services from cleversoft?
cleversoft brings deep supervisory reporting expertise and proven regulatory technology to help insurers navigate IRRD with confidence. Built on our long-standing experience in Solvency II, IFRS 17, ESG, and DORA reporting, our IRRD Reporting Service integrates seamlessly with existing processes and data.
Our solution supports both pre-emptive recovery planning and resolution reporting in one coherent platform—reducing operational complexity while increasing control and transparency.
Your benefits:
- Two reports, one solution : recovery plans and resolution reporting in a single platform
- Industry‑proven software: trusted by insurers across Europe
- Less complexity, more control: clear workflows and data ownership
- Regulatory readiness: aligned with IRRD timelines and technical standards
- Rapid response: adapt quickly to regulatory updates and new ITS releases
IRRD services include:
Pre‑emptive Recovery Plan (Rec Plan)
- Structured data input for recovery planning
- Pre‑defined recovery plan structure aligned with IRRD guidelines
- Narrative reporting engine
- Conversion to Word / PDF
Resolution Reporting (Res Rep)
- QRT report
- Integrated technical and business validations
- Conversion of reports into XBRL format
- Submission-ready XBRL files for resolution authorities
Features:
- Narrative Reporting Engine for recovery planning
- QRT generation for resolution reporting
- XBRL conversion and report
- Data control – data validations, audit trail and workflow-based
- Regulatory watch – the service is always seamlessly updated up to date with the latest regulatory requirements for the reporting period
Simplify IRRD compliance and address recovery and resolution requirements with confidence using the cleversoft IRRD Reporting Service.
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