comply

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.

FINANCIAL RETURNS MADE SIMPLER, QUICKER AND MORE ACCURATE

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.

 

MAKING REGULATORY REPORTING HEADACHES A THING OF THE PAST

COMPLY incorporates numerous features to ensure that basic and otherwise time-consuming tasks are performed quickly, efficiently, reliably and securely.

  • Comprehensive reporting schema and Pillar 3 data dictionary, based on common standards.
  • Business driven web-based user interface to control how reporting returns are processed, including form versioning, data snapshots and submission archiving.
  • User-controlled security via Microsoft Active Directory groups.
  • Automated data load controls from multiple sources.
  • Reconciliation reports of the reporting return data.
  • Automated system-to-system reconciliations ensuring all financial records are true and accurate for both Phinsys and non-Phinsys supplied applications e.g. underwriting system to data warehouse.
  • Archived store for all previously reported figures and reconciliations allowing users and auditors to produce extracts as they were at the submission date.
  • User-driven fast development of extracts as reporting requirements change.
 

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