Milliman - Solvency II Compliance Assessment Tool
Type of System
- Governance, risk, compliance (GRC)
- Solvency II Compliance Assessment Tool
- Solvency II solution
Type of platform
What are the typical implementation costs?
The Tool is low cost and quick to implement. No specific hardware is required.
How long does your software take to implement on site?
The Tool would be implemented within a week of agreement.
Please name companies that use the system/solution
Available on request
Most recent significant update:
The Tool is regularly updated with the latest Solvency II regulations. For the Irish version of the Tool, we have added all Central Bank of Ireland requirements including 2021 requirements for written pre-emptive recovery plans.
Planned future enhancements:
Updates for key regulatory developments including changes to the delegated regulations.
How does your solution integrate with third-party systems or in-house systems?
Results can be exported to Excel or Word to allow for further customisation of reports.
What is the key attribute of your product(s) that differentiates it from your competitors?
- Unique tool that gathers all Solvency II requirements in one place.
- Easy to use with simple questions that are accessible for staff in all roles and departments.
- System built reports show levels of compliance in each area.
- Coordinators can delegate questions to selected individuals to easily gather attestations and information from across the Company or wider.
- Tool includes hyperlinks from each question to the relevant articles of the Solvency II regulations providing an invaluable reference guide.
- Tool is updated to reflect changes in regulations allowing users to stay on top of the latest developments.
- Audit functionality helps track who has answered what and when.
What trends are you seeing in terms of customer demand?
Companies are finding that compliance is no longer enough, you also need an audit trail of how you assesses and confirm compliance.
Customers are using the Tool to stay up to date with regulatory requirements and produce system-built reports for senior management.
Solvency II Compliance Assessment Tool – quickly assess compliance with Solvency II rules