The Solvency II established a single EU regulatory framework to protect insurers’ policyholders via adequate capital and consistent risk management standards. The regime became applicable on the 1st of June 2016.
In order to analyse the capital adequacy, the EU insurance and reinsurance undertakings are required, under Pillar 3 of the Solvency II, to report the Quantitative Reporting Templates (QRTs) to the relevant National Supervisory Authorities (so called ‘Level 1 reporting’). Those NCAs need to further provide this information to the European Insurance and Occupational Pensions Authority (so called ‘Level 2 reporting’). Most of the reporting is being done in the XBRL format. EIOPA assisted the filers to fulfil the requirements, providing the T4U tool, in the past. Currently EIOPA decommissioned T4U and the insurers need to find analternative solution that will comply with the standard.
If your company is looking for a T4U alternative we can provide you with the solution that can be implemented within 1 day, and which takes away the hassle of generating XBRL from your business and technical users.
If you are interested in learning more about our solution, please join us on Solvency II Webinar on Thursday 19th of October at 11.00 am CEST
We will show you:
- how quickly import/export XBRL instance documents based on supported XBRL taxonomies
- loading data from and to Excel
- closed and open tables rendering
- data types handling and validation
- business case including validation rules