Supervisory ReportingEnsure Seamless Solvency II & Solvency UK Regulatory Compliance
cleversoft offers Solvency II & Solvency UK Reporting services. Starting from January 1, 2025, UK insurers must transition from EIOPA Taxonomy 2.6.0 to the Bank of England’s (BoE) new Insurance Taxonomy v2.0.1 for PRA Solvency UK submissions. This requires revising Solvency II quantitative (QRTs) and narrative reports in XBRL format.
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Why choose the Solvency Reporting services from cleversoft?
With years of experience in large Internal Model projects and SaaS solutions, our services supports full compliance with all Solvency II & UK pillars. Offering flexibility, automation, and customization, you can use them as standalone solutions or integrate with your existing data sources. Automate data extraction and mapping, and produce QRTs in XBRL format to streamline your reporting process.
Stay compliant with:
Solvency II
- NSTs (National Specific Templates)
- EIOPA Validations
- Solvency Access Database (Spain)
Solvency UK
- PRA Validations
Your benefits
- Full-service offering: We guarantee that your filings meet all technical and business filing rules, including the latest taxonomy and regulatory updates in accordance with our compliance commitment.
- Comprehensive Audit trail that tracks actions, their origins, and timing. We prioritize aligning the system with your existing workflow rather than requiring you to alter your workflow to accommodate the system.
- Transparency: You have full transparency on all data from input to calculation and report in Excel
- On the fly XBRL generation: Our solution allows for real-time XBRL generation
- Four eye principle: Only after approval of two users, the XBRL will be generated.
- Cloud based: Fully managed & scalable solution hosted in Europe
- National Specific Templates: We also support various National Specific Templates (NSTs) for Solvency II Reporting.
Our flexible Solvency II & Solvency UK Reporting services are designed to meet a variety of needs:
- Input data: upload data from various external sources in different formats.
- Calculations: add your own calculations in the configuration and replace parts of our calculations with your specific requirements.
- Company specific validations: Implement company-specific validations beyond the standard EIOPA & PRA checks
- Dashboard: the system offers a standard dashboard, comparing current Solvency II data to previous years as well as an overview of another key metrics. Include a customized Excel dashboard for your company, automating your workflow of producing management reports.
All three pillars for Solvency Reporting are available on a single platform. This includes the following features:
- Taxonomy updates: The service is always up to date with EIOPA’s & PRA’s latest taxonomy.
- QRTs: Quantitative reporting in Excel and XBRL for solo and group companies.
- EIOPA & PRA Validations: Validation of all data points with full explanation (as applicable).
- NSTs Support: Support for Solvency II national specific templates both in Excel and XBRL.
- SCR and MCR: Standard Formula for SCR and MCR calculations with transparent models.
- Narrative Reporting: SFCR and Shocks & Scenarios in your own corporate design.
- Full control: All the flexibility you need in a 100% controlled environment.
Solvency II Service Dashboard
EIOPA Business Validations
PRA Business Validations
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Notre équipe dispose de nombreuses années d’expérience dans le secteur pour vous accompagner tout au long du processus d’achat de logiciels compliance – de A à Z.