Solvency II and IORP II Reporting, Made Simple
Managing your Solvency II and preparing for the new Pension Funds (IORP) reporting requirements, may look scary at first. The EIOPA reporting frameworks include greater data requirements, more quality checking and conversion of your data into an XBRL format.
However, with the right tools and the right implementation partner the process can be made much simpler. UBPartner has used its extensive experience in XBRL to develop the XBRL Toolkit (XT) that can be installed in minutes and used by anyone with basic Excel skills to generate 100% compliant submissions.
No XBRL Knowledge Required
- Combines pre-mapped templates with a set of simple tools that convert and validate the data, so that users find it easy-to-use and simple to understand.
Continuously updated and tested
- As the regulations change and hence the XBRL taxonomy changes, UBPartner will provide the necessary updates to the templates.
- Users can use the powerful tools via an Excel Add-in, integrated into an existing application using the SDK/API, access them via a web Portal or can simply log on to the Cloud Service.
- XT is designed to be simple to deploy and can be extended to support additional entities without major upgrades.
Need some advice on what to look for in a IORP II reporting solution?
EIOPA’s IORP II reporting framework and the Pension Fund taxonomy are very similar to the Solvency II reporting that thousands of insurance firms started providing several years ago.
So, understanding the issues that insurance firms found and how they solved them will help you to plan a more successful implementation for yourself. UBPartner has gathered together some of the common lessons learned – find out more here
ORSA Reporting – Turn XBRL from a Burden to a Benefit
XBRL reporting is often seen as an extra burden for reporting firms, but if you adopt the right tools and applications, then XBRL can help automate and simplify the reporting process.
A good example of this is the production of ORSA, SFCR and RSR reports that are required from insurance companies under the Solvency II framework.
By using the XBRL data already collected in the Solvency QRTs as the basis for the reports and data analysis, you can save valuable time and reduce errors.Learn more about how XBRL can help with ORSA reporting.
UBPartner Expertise can Help
UBPartner provides a complete range of solutions to regulators, insurance companies, pension funds and consulting companies having to prepare reports in XBRL. Our consultants and support staff have extensive experience and can help to meet any XBRL-based compliance requirement.
XBRL Collection Systems for Every Size and Need
Requirements for XBRL collection systems can vary greatly. Sometimes you just need an XBRL processing engine to embed into an existing infrastructure and at other times you want a complete application that covers the full life-cycle of XBRL document processing.
The needs of smaller organisation’s can also be very different to those of large systems that are collecting 1,000’s or 100,000s of reports. While all organisations face the ‘age-old’ problem of whether to build or to buy a solution.
UBPartner and its network of partners can offer a range of XBRL document processing options that meet most organisations needs from an ‘out-of-the-box’ XBRL application to a single piece of the jigsaw which enhances a more extensive customised solution.
XBRL enabling Existing Systems
UBPartner offers a range of XBRL tools to support the many different aspects of an XBRL project, including: taxonomy development, tagging tools, reporting templates, large volume XBRL document validation and many more. Please refer to the XBRL Product pages for more detail on these.
XBRL Validation Service
XVS is a standalone validation service that can be quickly deployed to add XBRL Processing to any system. Documents can be sent to a message queue or simply loaded into a folder to be processed. It provides a range of validation reports and can be customised to support specific requirements.
XBRL Application Suites
Pre-packaged applications can save money and time. They can also reduce the risks associated with adopting new techniques and technologies. Working with our technology partners, UBPartner can provide XBRL applications that support the complete life-cycle: Taxonomy Management, Reporting workflow, XBRL Forms, and XBRL document analysis.
Small Regulator Systems
Small organisations can quickly configure a robust and cost-effective solution by deploying the UBPartner XBRL Toolkit. It requires less knowledge of XBRL and taxonomies, but has all the functionality required. It can be configured to meet your specific requirements and automated as required.