Solvency II
Risk-based equity capital requirements
The objective of the European Commission’s Solvency II project is to introduce risk-based equity capital requirements (Solvency Capital Requirement, Pillar 1). These new regulations are supplemented by qualitative requirements (Pillar 2) and reporting and disclosure requirements (Pillar 3).
Insurance companies are required to demonstrate to the supervisory authorities that their risk management systems and methods are safe, reliable and transparent. To protect policyholders from the potential consequences of an insolvency of their insurer, the supervisory authorities will step in if the solvency capital of an insurance company falls below the solvency capital requirement or even the minimum solvency capital.
Developing a user-specific reporting
At ConVista, Solvency II is not just about providing a technical solution for a single pillar. Our company offers a comprehensive end-to-end solution. This means creating an integrated Solvency II architecture in SAP. Various tools are available to meet the specific Solvency II requirements of each insurance company:
For Pillar 1: SAP Insurance Analyzer and SolVentos based on SAP Business Warehouse
For Pillar 2: SAP GRC
For Pillar 3: SAP Disclosure Management for qualitative reporting and SolVentos for quantitative reporting