Solvency II Compliance Assessment Tool - Milliman

Type of System

  • End-to-end ERM or Solvency II solution
  • Governance, risk, compliance
  • Risk Management

Type of Platform

  • Cloud
  • Desktop-based

Most recent significant updates:

Cloud based tool developed in 2016 building on our experience of developing our Solvency II Readiness Assessment Tool. Now includes workflow management, documentation storage and enhanced dashboard reporting functionality.

Planned future enhancements:

New Solvency II legislation or changes to existing Solvency II legislation will be captured within the tool.

Other Features

The offering facilitates

  • Solvency II standard formula
  • Solvency II internal model

Integration with third-party or in-house systems?

Yes

Implementation and Costs

Typical implementation costs:

The tool is very competitively priced. Prices vary by size, risk, complexity and scale of the organisation

How long does your software take to implement on site?

One week

Key attributes of product:

The new Milliman Solvency II Compliance Assessment Tool distils the Solvency II requirements into easily digestible self-assessment questions across each of the 3 Pillars. Our new software has been developed as an easy-to-use cloud-based platform, facilitating the gathering of all necessary information across the whole organisation. In developing this solution, we have partnered with ViClarity, a specialist compliance software company, to ensure that users will get the benefit of Milliman knowledge but also the functionality that would be expected of a market leading compliance tool including:

Workflow & scheduling

Action tracker

Upload of supporting documentation

Audit trail

System built reports

Please name companies that use the system/solution:

Available on request