EU regulation and compliance

Faced with myriad EU imposed regulations across the European insurance landscape, insurers are seeking new ways to manage risk and address the challenge of implementing the reporting requirements demanded by Solvency ll.

As a fundamental review of the capital adequacy regime for European insurers, these new reporting requirements represent a major shift in governance and reporting activity.

The challenge for insurers is how to comply without tying up valuable resources. Sopra Steria can help. We have more than 20 years’ experience of providing European regulatory reporting solutions and have developed the SOLVARA® reporting tool in collaboration with our existing insurance customer base. It is a unique approach to meeting Solvency II reporting requirements, taking away the pain of your preparations and ultimate reporting.

No other company or solution, including large-scale bespoke projects, has achieved SOLVARA®’s degree of success. The ability to configure your insurance business, including insurance classes, countries and other areas, combined with workflow optimisation, creates a simpler reporting environment. You’ll achieve fast and easy data migration using automated interfaces to legacy systems.

SOLVARA® helps you to produce reliable results due to excellent data quality, process automation and cross validation. Traceable methods, procedure documentation and documented workflows ensure results are fully transparent and you will be able to carry out ad hoc scenario evaluations on which to base specific business policy decisions.

SOLVARA® is a proven and unique approach that incorporates frequent updates to keep you in line with the regulator’s amendments to Solvency II.