The SII Engine Solution - Asseco

Type of System

  • Analytics
  • Capital modelling
  • Data management
  • Economic capital aggregation
  • End-to-end ERM or Solvency II solution
  • Internal/external reporting
  • Risk Management
  • Spreadsheet risk management
  • Stress testing
  • Scenario analysis

Type of Platform

  • Cloud
  • Server-based
  • Web-based
  • SaaS

Other Features

The offering facilitates

  • Curve-fitting
  • Solvency II standard formula
  • Solvency II internal model
  • IFRS 17

Implementation and Costs

Typical implementation costs:

Implementation cost is an upfront licence fee and first year support & maintenance fee. Price depends on number of users for the Pillar I and III modules and the Scenario Analysis Tool + Non-life BE module. The Solvency II Data Mart has a licence fee per legal entity.

How long does your software take to implement on site?

The SII Engine is installed in 1 day. Including data verification sessions, clients are able to calculate and produce reports instantly.

Integrating SII Engine to client backend systems is completed in 50 man days for a SCR calculation, Quarterly report submission and Capital projections, scenarios, reverse stress. Additional 30 man days for the data remaining in regards to an Annual Report Submission

Please name companies that use the system/solution:

The SII Engine is used by a growing list of insurance companies in 13 EU countries. Companies are in the business of non-life, life, health and reinsurance, and ranging from medium sized Tier 2 to large Tier 1 insurance companies, both solo and groups.