Best Solvency II solution: Moody's Analytics
Finalists: BearingPoint, IBM Risk Analytics, MBE Transkap
The arrival of Solvency II has prompted huge activity in the enterprise risk management software space, as insurers tussle with greater regulatory and internal management requirements.
Moody's Analytics' RiskIntegrity Suite is a modular solution designed to address these needs at small and large-scale businesses, with testimony of success coming from a wide variety of insurers. The submission was described by one of the judges as "a very strong entry" and the system as "very focused on the whole solution to Solvency II regulatory reporting and analytic needs".
The smoothness of upgrading the system was also cited by clients in the switch from version CP 13 of the Solvency II data requirements to CP 14. Because the data model had been designed with future regulatory updates in mind, users had to load minimal additional data, little if any customisation was required, and the documentation was clear enough to allow users to transition without any support from Moody's.