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Solvency Reporting and ORSA Dashboards in a Simpler and More Automated Way

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Solvency Reporting and ORSA Dashboards in a Simpler and More Automated Way

Valucor, Catalyst, and UBPartner come together to streamline the production of Solvency Reporting and ORSA Dashboards for Insurance business.

Press Release May 4, 2022 09: 00 CEST

PARIS, May 4, 2022 (Newswire.com) – UBPartner (www.ubpartner.com) is dealing with Valucor (valucor.com), an actuarial consulting business, and Catalyst BI (https://catalyst-bi.co.uk), an information management, information analytics and information science professional, to assist streamline the production of Solvency II reports, execute Management Information Systems and allow targeted danger analysis under the ORSA structure for European insurer.

Installing and keeping software application, obtaining the needed abilities and understanding of XBRL conversion systems for compulsory Solvency II reporting functions, plus executing Management Information Systems can be a significant expense and interruption for insurance provider. Valucor is assisting their customers to make the procedure much easier and minimize the expenses, while likewise making sure 100% compliance.

Simplifying Solvency and ORSA Reporting

” Valucor has actually been helping our customers to prepare their Solvency II reports utilizing UBPartner’s XT Cloud Service,” specified Thomas Gisler, Managing Director at Valucor (FL) AG, “It rapidly allows us to extend our actuarial services and work collaboratively with our customers and to streamline their Solvency reporting. We likewise team up with numerous customers on their internal ORSA reports and management control panels within their danger management structure along with danger reporting systems. The brand-new system based upon the XT Database assists to keep the information up-to-date and to envision patterns and possible concerns in a more efficient method. We support our customers in changing their information architecture, integrating it with the flexible innovation of UBPartner and Catalyst BI, making it possible for management to have complete control of information and imagine it according to their requirements for decision-making functions.”

Quantum Life Ltd. is among the very first consumers to embrace the service. The system has actually been customized for them by Catalyst BI, which assisted Valucor produce the Qlik Sense user interface and to improve the information with information drawn out from the business’s internal systems.

” We have actually been actually delighted with the procedure and the service that the brand-new control panel provides,” commented Christopher Hurford-Green, Member of the Executive Management of Quantum Life Ltd. “We can concentrate on the analysis of Solvency II outcomes and dive much deeper into the in-depth circumstances that might impact the business’s future solvency, without sustaining the expense of obtaining the abilities and establishing the systems ourselves. In addition, we have an introduction of our portfolio of insurance plan and can carry out in-depth analysis on success, scheduling and other crucial metrics.”

XT Database and Qlik Sense opening the wealth of XBRL information

” The UBPartner XT Portal was constructed with simpleness and versatility in mind and to make Solvency II reporting as problem-free as possible. The XT Database matches this by making it fast and easy to save the XBRL information and allow basic Business Intelligence tools to gain access to and evaluate the information,” discussed Martin DeVille, VP, Business Development at UBPartner.

” UBPartner offered us with a basic set of reporting tables. Our skilled experts then established a set of control panels from the base Solvency II information as directed by Valucor and UBPartner. We then personalized these and included source information from Quantum Life’s internal systems to supply a set of interactive, custom-made Dashboards with actionable insights,” mentioned Stefano Rabbiosi, Account Director at Catalyst BI Ltd.

About Solvency and ORSA

The Solvency II Directive needs insurer to supply routine supervisory reports on their solvency and monetary condition. In addition, companies are to carry out an Own Risk and Solvency Assessment (ORSA) as part of their threat management treatments at routine periods. Additional information can be discovered on EIOPA’s site – https://www.eiopa.europa.eu/tools-and-data/supervisory-reporting-dpm-and-xbrl_en. 

About Valucor

Valucor is based in Zürich, Switzerland, and in Liechtenstein. It uses actuarial consulting, job consulting and Solvency II reporting services to insurance provider.

For additional info, visit valucor.com.

About Catalyst BI

Catalyst BI challenges organisations to open insights, drive efficiency and develop worth by bringing individuals and information together. Their acclaimed and ingenious group has actually provided effective services and services to over 450 consumers, throughout a variety of public and economic sector organisations. Through their specialism and proficiency, their dedication to leveraging the most recent innovations throughout Data Management, Data Analytics and Data Science continues to assist speed up organization worth and provide a first-rate collaboration to their clients.

For more details, see https://catalyst-bi.co.uk.

Contact info:

Martin DeVille, VP Business Development: mdeville@ubpartner.com

Source: UBPartner

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