Are You Prepared Meet Data Quality Requirements for Solvency II?

The quality of data used in the Internal Models is a particular focus of Solvency II regulators and scrutinized for appropriateness, completeness and accuracy. Organizations are required to establish a process for data quality management and account for adjustments to historical data for both data correction and adjustment. Added to this, Solvency II has far reaching operational and strategic requirements in the use of risk calculations. Article 120 Use Test states that “insurance and reinsurance undertakings shall demonstrate that the internal model is widely used in and plays an important role in their system of governance [within the risk management system and decision making process, and the economic and solvency capital assessment and allocation processes]”.

The Trillium Solvency II Solution profiles and monitors production-scale volumes of data, utilizing an auditable process that provides business visibility into critical data issues. Leveraging an integrated platform to manage the stages of an enterprise data quality life cycle, Trillium enables users to rapidly build transparent processes to discover, improve and govern risk related data with confidence.

Download the data sheet at right for more details.