General Insurance Article - BW and Solvency II Solutions integrate reporting solutions

 Through integration of the systems, insurance operators now have access to a complete end-to-end Solvency II standard formula Solvency Capital Requirement (SCR) and Quantitative Reporting Templates (QRT) reporting package.

 SIIMPLIFY, Barnett Waddingham’s excel based solution, enables a quick and easy calculation of the standard formula SCR under Solvency II.

 Solvency II Solution’s product, Tabular, is an Excel/Word-based Solvency II narrative and QRT XBRL reporting tool, which has been integrated into Microsoft Office. Tabular is designed to be a repository for QRT data and allow users to easily load and link source data from existing systems.

 The integrated solution enables users to quickly and efficiently import SCR calculations from SIIMPLIFY into the QRTs on Solvency II Solutions Tabular platform.

 Kim Durniat, partner at Barnett Waddingham said: “This integration of SIIMPLIFY and Tabular offers the insurance industry a simple cost effective solution for Solvency II data integration and reporting in a familiar excel environment. The partnership aims to help insurance companies to reap the benefits of an efficient, repeatable and auditable Solvency II reporting framework with consultant implementation and ongoing support.”

 John Staines, CEO, Solvency II Solutions, said: “By integrating our solutions, insurance firms now have a simple and complete end to end Solvency II reporting solution which takes the hassle out of reporting requirements. At the click of a button, SCR information from SIIMPLIFY can populate the QRTs in Solvency II Solutions Tabular platform, making it easier than ever to report efficiently.”