REGULATORY REPORTING EXPERTS

S2CT

Solvency II regulatory reporting solution

S2CT solution is available modular, makes reporting process more efficient, improves quality and accuracy of reported information and assures compliance in optimal manner. Clients using S2CT don't have need for alternative validation check with third party tools.

S2CT is comprised of following components



WEB PORTAL FOR CREATION, VALIDATION AND CONVERSION OF QRT'S


SCR AND MCR EXCEL CALCULATOR


BEST ESTIMATE CALCULATION (LIFE AND NON-LIFE)


REGULATORY INFORMATION MODEL (DW)


S2CT offers integral functionality across Pillar I and Pillar III, with included support for Pillar II. Component model design ensures segmented approach to the problem giving clients possibility to choose only component that is needed, but provides ready architecture for upcoming challenges that are set ahead such as shortening report dues, changes in validation, allocation and delivery formats.


Key facts


COMPLIANT FROM FIRST SUBMISSION
Partners using S2CT were compliant from first submission try, where time needed for report production was in some cases more than 50% shorter, compared to others.
AVAILABLE IN CLOUD
Starting component for QRT production is available in both on premise or cloud model specially suitable for small to medium undertakers.

CONTROLLABLE WORK-FLOW
Controllable work-flow, import from EIOPA annotated Excel templates formation into tool, creation and maintenance of mappings, access control, change tracking (audit trail), centralized report management with taxonomy versioning...
USED IN SURVEY
S2CT has been used in recent EIOPA survey whether has been used by industry.

INDUSTRY CONFIRMED
Market tested and state of the art XBRL technology is one of few 100% compliant and used from side of regulators and undertakers.
Contact for information

Dragan Oremus

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Did you know that we offer QRT production component sole in SaaS model. Check service details here!




Concept:

Web portal for creation, validation and conversion of QRT’s


Main part of S2CT is web application that serves for creation of reporting instances, correction with change tracking, user friendly validation and conversion of QRT’s into XBRL or other given format. Validation of reported information that would be converted from QRT to XBRL is done by our proprietary market tested XBRL technology, as only one of a few validated in preparatory phase with EIOPA, fully working as expected. Extended part of validation are calculation controls that are executed on side of the regulator. Application has extensive security and controllable business workflow. S2CT within its scope of functionalities, that are designed following industry processes is optimizing reporting process at the same time securing needed control points for end production of report. This component of S2CT can be implement in matter of days, one practical example of usage is migration from EIOPA T4U – Tool 4 Undertaking (that would soon be deprecated) in seamless manner and without overhead.


SCR and MCR excel calculator


This excel calculator is widely known and already has been used by actuarial and risk staff in stress tests undertaken in previous years by NCA’s. Known as QIS, has been adjusted to meet standard formulae specification. Calculator correlates and calculates end SCR and MCR. All of its positions are mapped into QRT’s for life, non-life and composite undertakers and maintained with time. This part of S2CT solution whether used before or would be just used can be easily integrated into current reporting process making it instantly shorter, more accurate and efficient in the long run.


Best estimate calculation (life and non-life)


Addressing one mandatory part of Pillar I requirements we offer Best estimate calculation for life and non-life business. Calculation is done in controllable manner saving all relevant steps and information whether used for supervisory review or audit on calculation execution. Our calculation capabilities enable insurance company to get into control of this process from resources and time prospective. All problems that are experienced with usage for example of excel, like missing archive, track log and time planning besides technical uncertainty will and in what time calculation would be done are past on using of our tool.


Regulatory information model (DW)


Our RIM model collects regulatory information in such way that if offers various capabilities such as tracking risk and other indicators or trends and variance analysis. RIM uses central regulatory model as information source. Its practical usage can be for statutory (ORSA), internal or management reporting. Information architecture is designed in such way that it doesn’t require extensive IT involvement on loading of information, and can be easily accessed with commonly used tools such as excel pivot.



Business application:

Some of S2CT application scenarios:


  • QRT turnkey production either on premise or in SaaS mode, with guaranteed compliance,

  • Final aggregation of SCR and MCR modules,

  • Best estimate life calculation (possibility for non-life on demand as supported by EIOPA helpers),

  • Support in ORSA creation,

  • Compliance check prior to submission,

  • Reporting automation.

Evolving compliance is secured by our Regulatory monitoring service – RMS.



S2CT can comply to any regulatory strategy of insurer due to scalable and modular architecture.



This solution model gives flexible problem resolution approach, from light QRT conversion tool, up to reporting process automation. Our market focus and specialization for insurance reg. reportig would give undertaker more time to cope with core business issues having in place reporting solution for the long run.


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