MBE & Solvency II Solutions Provide Fully Integrated Data Management and Reporting Capability for Solvency II
LONDON, September 14, 2015 /PRNewswire/ --
Integration brings full fund look-through and reporting capability to Insurance and Buy-Side companies
MBE International (MBE), a world leading specialist consultancy with a reputation for insight and innovation, and Solvency II Solutions (SIIS), a European wide provider of Solvency II reporting solutions, today announced the integration of Tabular, SIIS's XBRL reporting tool into TRANSKAP, MBE's end to end risk management solution. This innovative partnership and subsequent integration provides a full end-to-end solution, covering all steps of the process from the sourcing of raw data to populating QRTs for Solvency II reporting.
The jointly developed integration allows users of both TRANSKAP and Tabular to create a consolidated and normalised set of asset data from multiple sources, including internal and 3rd party data vendors. This consolidated view can then be fed directly into a QRT XBRL reporting tool, providing full validation and submission functionality. The end to end process has a full audit trail capability, with the added benefit of a strict control framework. In addition, this offering provides the ability to fully 'look-through' a fund to the required level and populate the underlying assets with all of the required reference data.
Andries Beukes, Director of Actuarial Services at MBE believes that this latest addition to TRANSKAP will add even more value to clients affected by the Solvency II regulatory regime: "The idea behind the integration of Tabular with TRANSKAP was to develop a seamless offering which facilitates compliance with the new Solvency II reporting requirements."
"MBE, as the developer of TRANSKAP, is a leader in the risk management industry, which has enabled them to tailor their solution to the anticipated needs of the industry," says John Staines, CEO of SIIS. "We are pleased to be partnering Tabular with TRANSKAP, which will add the full value of an end-to-end solution to our offering."
TRANSKAP is the data and risk management system developed by MBE. It consists of a suite of integrated modules that can be used to fully automate an end to end workflow process. It encompasses a centralised data repository allowing easy data consolidation and normalisation, with a comprehensive modelling tool and powerful dashboards. In addition, it also provides the capability to be able to provide full fund look-through, a problem that is currently causing a number of issues for the industry.
Tabular is an Excel/Word-based Solvency II narrative and QRT XBRL reporting tool, which has been integrated into Microsoft Office. Tabular is designed to be a repository for QRT data and allow users to easily load and link source data from existing systems.
MBE
Muller Beukes Edvardsen (MBE) is a specialist consultancy with a reputation for insight and innovation, successfully delivering projects in technology solutions, risk management and process improvement.
MBE is the developer and distributor of TRANSKAP, an end-to-end risk management system, which utilises up to date look-through asset data to help businesses make ERM decisions.
Solvency II Solutions
SIIS is a cost-effective provider of Solvency II Excel-based XBRL reporting solutions for the Insurance and Asset Management communities. The company focuses on providing a customer-centric solution for the data collection, validation and submission of Solvency II regulatory & Lloyd's market returns.
SIIS's product Tabular is currently used across the EEA by a spectrum of Life and Non-Life insurers, Lloyds syndicates, Asset Managers, Consultancies, and Actuarial firms.
http://www.solvencyiisolutions.com
Contact
Ben Herrett
MBE
Email: benh@mbe-intl.com
John Staines
Solvency II Solutions
Email: john.staines@solvencyiisolutions.com
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