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XBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead moreXBRL-CSVFuture of Bank ReportingRead more

Solvency Reporting Made Simple

More efficient and effective XBRL reporting for Insurance companies and Pension Funds

The Solvency Reporting Challenge

Insurance companies and Pension funds continue to be challenged by unprecedented levels of complex regulatory change and increased demands for regulatory data. Solvency II and local country extensions use the XBRL format to collect the data and to check those submissions meet the European Insurance and Occupational Pensions Authority’s (EIOPA) or local regulatory requirements.

These Regulatory Technical Standards (RTS), composed of the XBRL data model, quality checks and filing rules, are updated regularly or extended to include new modules to collect additional information. Such a reporting system creates a significant strain on the firm’s compliance teams. However, XBRL has been shown that it can help by automating and improving the reporting process, reducing errors and making it simpler.

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OUR Solvency Reporting APPROACH

Preparing the submission data and then converting it into XBRL, finding any errors and then fixing them can be a long drawn out and expensive process. Selecting the right XBRL tools can help to streamline the reporting workflow and to make it easier for issues to be identified.

UBPartner’s XBRL tools provide Excel or CSV templates to help identify and collect the data to be converted to XBRL. They validate the data provided against the RTS rules and provide a range of summary and detailed reports to describe any errors and most importantly where to find them.

LET’S DISCUSS YOUR SOLVENCY PROJECT

Contact us and we can explain how more than 600 insurance companies and banks across Europe have benefitted from the XBRL Toolkit (XT) and our expertise.

Proven Solvency Solution

UBPartner’s XBRL Toolkit is proven to generate 100% compliant submissions for the Solvency II and other XBRL reporting frameworks. The Tools are flexible to deploy and simple to implement, saving you time and money.

Move ahead quickly

The software can be installed on-premises as a Portal or Excel Add-in, integrated into an existing application using the XT SDK, or accessed over the internet via the XT Cloud Service, which is fully managed and kept up to date by UBPartner.

No XBRL Knowledge Required

Convert and validate your data using our pre-mapped templates and simple tools that allow you to produce high-quality Solvency II and Pension Fund (IORP) reports without any prior knowledge of XBRL.

Continuously Updated & Tested

As the regulations and the XBRL Taxonomy change, we provide timely updates to the templates, ensuring that your reporting always stays accurate.

Advanced Integration

If you have an existing application that you want to extend to support XBRL reporting or have more custom needs then the software provides simple application interfaces. The XT SDK includes Java APIs for each of the tools, which can also be run as simple batch processes. The XT Portal and XT Cloud Service can be accessed via a high-level REST API.

NEED MORE TECHNICAL DETAILS ON THE XBRL TOOLKIT (XT)?

XT Cloud Service

XBRL Toolkit (XT)

XT Database

EFFICIENT AND FAST ORSA DASHBOARDS

The data reported for Solvency and Pension funds can be re-used as the basis for internal ORSA dashboards. The Own Risk and Solvency Assessment (ORSA) provides a set of guidelines and reporting requirements that encourage a forward-looking perspective of the firms business and encourage firms to take a methodological assessment of risk.

UBPartner’s XBRL Toolkit can help you implement your ORSA Reports and Dashboards, and to produce your SFCR / RSR reports. It does this by loading the data already collected in the Solvency reports into our XT Database, saving you valuable time in collecting the base data for your scenario planning and reducing errors caused by the ‘copy+paste’ approach to preparing the data for your risk analysis.

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READ MORE ABOUT HOW TO DELIVER ORSA DASHBOARDS QUICKLY AND EASILY

Valucor is an Actuarial consulting firm that has adopted the XT Cloud Service and the XT Database for its clients, improving its scope and extending its service opportunities.

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Extending Your Actuarial Consulting Business

The XBRL Toolkit (XT) can provide a simple mechanism for Actuarial consultants to extend their business by providing a certified Solvency II and Pension Fund reporting solution. Today, partners like Milliman, Mazars, Actuelia, Actelior and Valucor are using the XBRL Toolkit to enable the provision of such services.