Solvency II

Under the Solvency II directive, insurers must be able to demonstrate that the data used for their calculation of capital provisions is appropriate, complete and accurate.

The FSA have made known their intention to rigorously control compliance in the UK.

   Firms must improve their data management and quality  -  FSA , April 2010

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X88 Pandora helps insurers in the implementation, governance and transparency of their Solvency II solutions by demonstrating:

• A strong understanding of their data
• The deficiencies within their data
• The impact data has on capital calculations
• The remediation activity required for their data and the result of remediation over time

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With X88 Pandora, organisations can :

• Find and build a directory of all relevant information.
• Evaluate data quality (completeness, consistency, accuracy, integrity, timeliness).
• Model and validate data flows to move data from product source systems to internal models, repositories or calculation engines.
• Provide time-based data quality metrics, including financial KPIs.
• Query, transform and aggregate data interactively to answer ad-hoc questions from regulators.

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Many insurers are already using X88 Pandora to collaborate in providing a robust, flexible and transparent Solvency II solution with greatly reduced time and cost when compared to any other approach.