Insurance regulation according to Solvency II

Standardized solution for coping with the inevitable challenges

Your Contact Person

Stefan Geipel | Partner
Hammer Straße 165
48153 Münster
Germany
Germany

Regulatory functionalities

zeb.control.regulatory - Solvency II software module

The following functionalities are provided: 

  • Consolidation of all the data to be reported through standardized import interfaces as well as dedicated calculation processes
  • Standardized data requirement catalog for complying with all reporting obligations
  • Implementation of the Solvency II standard model approach for computing all required risk and reporting measures (individual companies and group)
  • Use of enterprise-specific (sub-)models through a modular system architecture as well as expandable and freely configurable calculation engines
  • Generation of all forms related to regulatory reporting requirements under Pillar 3 (in particular, QRT reports)
  • Automated and secure reporting to the German supervisory authority via a standardized interface
  • Representation of well-proven regulatory reporting processes of the financial industry
  • Audit-proof, well-proven processes for data storage, data transfers and manual corrections

Please compare our booklet for more information.


Functionalities

software solution for all three pillars

zeb.control.regulatory - Solvency II software module

Pillar II – risk management

In future, competence in risk capital management will become the decisive competitive factor for any insurer. Even today, rating agencies and customers increasingly assess insurers based on their management competence and Solvency II ratio. zeb.control.regulatory – Solvency II supports economic corporate management and risk management. This ensures that the requirements of pillar 2 are met. Using the scenario manager, comprehensive analyses and simulations can be conducted. For example, risk parameter shifts in all risk types can be simulated.

Pillars I and III – Fully automated calculations and reporting processes

The entire reporting process is calculated automatically (standard model according to pillar 1) and an automated report is generated in XBRL format. Insurance companies benefit from efficiency gains thanks to these fully automated calculations. Fewer staff members are required and the error rate is reduced significantly. zeb.control.regulatory – Solvency II maps the entire Solvency II regulatory reporting of solo insurance companies and groups as required by national supervisory authorities in the EU (requirements in pillar 3). The multi-currency capacity and multilinguality of the entire system (reports, user navigation, documentation) enable its use in international insurance companies.

Audit-proof process model

The pre-defined, audit-proof and documented zeb.control process/workflow model can be adapted individually according to company requirements. The entire process chain is mapped in full compliance with regulatory requirements within the zeb.control environment, including pre-calculations. All processes and process steps are automatically logged and a role/rights concept as well as an approval system using the 4-eyes-principle are included. Thus, zeb.control.regulatory – Solvency II complies with the audit and regulatory requirements regarding data quality, data security, traceability, completeness and documentation.

Maximum flexibility

Due to the parameterizability of the system, company and business structures, responsibilities, etc. can be flexibly mapped (incl. historization and storage). It is possible to integrate individual calculation functions (e.g. for partially internal or internal model modules) and feeder systems. Additionally, there are individual configuration and expansion options for reporting, process management and user management as well as the calculation engine available.