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:

The tool is regularly updated with the latest Solvency II regulations

Planned future enhancements:

Updates for key regulatory developments including changes to the delegated regulations

Other Features

Integration with third-party or in-house systems?

Results can be exported to Excel to allow for further customisation of reports

Implementation and Costs

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.

Key attributes of product:

The Tool is an out-of-the-box solution which enables insurance companies to quickly and clearly assess ongoing compliance with Solvency II regulatory requirements. The easy-to-use cloud based platform facilitates the gathering of all necessary information across an entire organisation. Additionally, the tool creates an audit trail of work done, can assist in the development plan of future actions and acts as a useful reference tool with automatic links to the latest Solvency II regulations.

  • 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

Please name companies that use the system/solution:

Available on request