Be Prepared for Solvency II

Clearwater Makes it Easy

As the Solvency II directive’s effective date of January 2016 quickly approaches, European insurers have begun to validate their Pillar 3 investment reporting processes through internal and external dry runs.

It can be tempting to view the Solvency II requirements as just another project with deliverables to complete. However, to ensure compliance with Solvency II’s complexities over the long-term, preparations need to reach beyond the project-based, manual work that most insurers are used to. In order to remain scalable for any future market-wide regulations or internal mandates, insurers need repeatable, proven data aggregation, reconciliation, and reporting processes to be seamlessly integrated with an overall investment accounting solution that is fully compliant and Solvency II-ready.

best-in-class investment solutions for Solvency II meet the following requirements:

'The new Solvency II regime has created a greater demand for better investment portfolio systems. Constantly changing regulatory guidance and expansion of our business created a need for better investment data aggregation, accuracy, and access. Transparency is a key requirement of Solvency II, and is a factor that influenced our decision to use Clearwater.'

David Astor
Chief Investment Officer, Hiscox, Ltd.

  • Seamlessly integrate Solvency II into established investments processes, thereby creating a scalable, sustainable, and reliable process going forward
  • Provide consistent investment data across multiple custodians and asset managers in the appropriate format for Quarterly Reporting Templates (QRTs), at the group, entity or portfolio levels
  • Provide transparent, automated access to Solvency II-specific investment data points, including Complementary Identification Codes (CIC), NACE codes, LEI codes, and Group LEI codes.
  • Ties to accounting numbers, the general ledger, risk, performance, and compliance calculations
  • Be backed by established and reliable Solvency II industry experts
  • Automate the manual—and error-prone—data entry ‘heavy lifting’ that can weigh down your staff’s workload
Support for Solvency II

Ensuring that that your organisation can deliver all the fine details needed for Solvency II—without undue stress on your staff’s daily workload—requires a strategic approach.

Clearwater can help. Download our informative white paper to see how we are helping insurers fulfill Solvency II regulatory requirements.