The Business Value of Solvency II Data, Latest Pillar 3 Reporting Updates & Case Study
With Solvency II fully live now for just over 3 months, many in the industry have sighed in relief that the finishing line on the long and complex road to implementation has finally been crossed. However, the landmark date of 1st January 2016 is, in reality, less the end and more the beginning of the real work that underpins the principles of Solvency II.
On April 12 leading industry experts examined the business value of Solvency II data and how it can be re-injected into internal MI reporting as part of a risk-based and forward-looking approach to managing the business.
This webinar discussion centered around the status of Pillar 3 reporting, the decommission of EIOPA Tool for Undertaking (T4U) and how robust technology such as Abacus from BearingPoint automates and industrialises the frequent reporting of vast amounts of granular and highly-dimensional data, so that Pillar 3 disclosures fit smoothly into standard business-as-usual, freeing up time and resources for significantly more value-added activities that reinforce good business and risk management practice.
Key points that were covered during this session include:
The Business Value of Solvency II Data
Status of the requirements for Day 1 Reporting, Expected Changes to Pillar 3 Reporting Requirements and Decommission of EIOPA T4U
Pillar 3 Reporting - A Pacific Life Re Limited Case Study
About the Webinar
Anne Leslie-Bini is an Associate Director at BearingPoint where she is responsible for business development in the financial services sector, focusing on topics such as Solvency II, CRD IV, AnaCredit, Stress Testing, BCBS 239, MIFID II, EMIR, FATCA and CRS-AEOI. Well-known for thought-leadership, Anne often speaks at industry events as well as contributing to publications concerning the international regulatory environment, data management and technology.
More about Bearing Point
Learn More About BearingPoint & Abacus
Ruediger Lambrecht is the product manager for BearingPoint's regulatory reporting solution ABACUS/Solvency II. He is responsible for development and maintenance of the solution as well as for service and support. Moreover he supports clients in the implementation of their reporting solutions. Besides that Ruediger works closely with clients in developing their regulatory reporting strategy in order for them to be able to respond effectively to new reporting requirements and obligations.
BearingPoint consultants understand that the world of business changes constantly and that the resulting complexities demand intelligent and adaptive solutions. Our clients, whether in commercial or financial industries or in government, experience real results when they work with us. We combine industry, operational and technology skills with relevant proprietary and other assets in order to tailor solutions for each client’s individual challenges. This adaptive approach is at the heart of our culture and has led to long-standing relationships with many of the world’s leading companies and organizations. Our global consulting network of 9,700 people serves clients in more than 70 countries and engages with them for measurable results and long-lasting success.
Colm Moore is a technical implementation lead for ABACUS/Solvency II in the UK & Ireland. He works with client teams to help them structure their data and ensure they are prepared to meet their reporting obligations. He also provides training on the ABACUS/Solvency II reporting solution and guidance on Solvency II reporting requirements.