A reporting and data archiving system designed specifically to meet the demands of reporting across multiple regulatory regimes. Supporting the Solvency II Pillar 3 and the CMR returns as well as the UK GAAP reports, this solution is easily extendible to support other jurisdictions. The module also supports the reconciliation of data being processed across all IT systems within an insurers finance department ensuring that information is fully reconciled and auditable.
Insurers are now required to provide Solvency II reporting to both the PRA and Lloyd’s and other international regulators on a quarterly and annual basis. This is a time consuming process and requires resource from both Finance and Actuarial departments to prepare, analyse and then present the data in the required formats.
We designed COMPLY to provide an automated, and fully auditable, reporting system that avoids the need for ﬁnance resources to support the production of these ﬁgures, allowing these resources to focus on review and sign-off of returns.
COMPLY integrates with the various forms providers, or can be extracted in CSV format for uploading to the regulators’ collation point.
COMPLY has been designed to meet the changing needs of the Solvency II submissions required by both the PRA and Lloyd’s regulators. It also readily interfaces with existing client IT systems to source the data required for these returns.
COMPLY incorporates numerous features to ensure that basic and otherwise time-consuming tasks are performed quickly, efficiently, reliably and securely.
A unique feature is that COMPLY enables our clients to design and implement customised financial controls to ensure accuracy and completeness of reporting.