USE CASE

ATOME: Particles for Solvency II data quality assurance

Problem

Solvency II Directive requires insurers to provide regulators with detailed reports that present among others their asset structure, technical provisions and capital adequacy. It has been in force for several years now with updates of Solvency II XBRL taxonomy for data submission released regularly. Still, the insurance sector struggles to maintain adequate quality assurance of Solvency II reports and minimise the risk of committing errors during the population of quantitative reporting templates (QRTs). Such errors occur very often and their correction is time-consuming. Restrictive requirements and regular taxonomy changes call for adequate quality assurance measures and an independent validation tool.

Solution

ATOME: Particles is an intuitive, easy to use software that allows for quick and seamless verification of Solvency II reports, lowering the risk of non-compliance and increasing data quality. It enables users to create, edit, correct and validate QRT reports and track non-compliant entries. With ATOME: Particles you can convert XBRL to Excel and export your report to the desired format (XBRL, Excel). The high-performing engine of our software allows processing multiple reports simultaneously, saving the filer’s time and effort. It helps to quickly adopt regulatory updates in your reports with the latest taxonomy available only within a few days after its official publication.

value

For many users BR-AG’s tool serves as a verifier of the reports generated with another software, providing the possibility to rerun EIOPA business rules’ validation before submission of the final XBRL report. ATOME: Particles is an affordable tool that helps you to minimise errors, correction time and, ultimately, the risk of costly non-compliance fines. It is supported by the know-how of our experts responsible for data modelling, quality assurance and constant updating of XBRL taxonomies. Our well-grounded knowledge and unique practical experience in Solvency II reporting are shared during regular webinar sessions.