Agile Solvency II Services:

Solvency II Data Profiling & Data Quality 

Information management solutions play will be a key part of any successful implementation of Solvency II. The provision of data for internal models, standard formula for capital requirements or for identifying indicators that will enable effective risk management will require consistency between regulatory, prudential and financial reporting within the enterprise.  

Agile Solutions proven experience of data quality and data governance give our clients a clear advantage when considering the importance of data quality in a Solvency II Scenario. There are numerous requirements regarding the quality of data but clearly auditable, accurate, relevant, complete and appropriate data will be required to ensure the investment in Solvency II is not wasted.  Many of the challenges of Solvency II need to be addressed using IT solutions and initial estimates show that IT projects are expected to cost several million Euros for medium to large insurers, and it would not be surprising to see IT-related costs consuming 60 to 80% of the Solvency II budget.

Agile Solutions data profiling technology and services can ensure that a true understanding of data quality in the source systems feeding the Solvency II development is fully understood allowing for more accurate costing of both corrective action, management and integration costs.

The Solvency II IT Architecture Review

Solvency II will drive many upgrades to support the data warehouses that will be at the core of the supporting IT solutions. The business Intelligence systems supporting the Solvency II information solutions will require new data integration, data storage in order to offer simple and painless access to financial, technical or risk monitoring information. A good data warehouse architecture will be crucial as there is no doubt that a significant part of European (re)insurers will have to undertake sizeable projects utilising business intelligence.

Agile Solutions Solvency II architecture service will ensure that the most efficient and high performance technology stack will be identified and ensure that inappropriate technology investment is avoided. We can ensure your solution is architecturally sound and able to support the full requirements of Solvency II.

These services are available in a review or long-term engagement form working alongside solutions designers within different projects or technology focused design experts. 

Solvency II Agile Delivery

Dedicated IT projects will be required for the implementation of internal models, operational risk platform integration, automated publication of performance and measures of risk. Once the data has been gathered, is of proven quality and easily accessible in BI systems, further requirements to use it in the calculation of solvency capital requirements and monitor the risk exposure of the firm will follow. Close collaboration between business and IT staff using an Agile delivery methodology will reduce risk by improving the reactivity of each individual project while also improving delivery performance. Agile Solutions have a proven Agile delivery methodology for large financial institutions and offer a number of services such as a pre-project Agile assessment, Agile project/programme planning and Agile delivery consultants. 

Solvency II Technical Consulting

The delivery of an information solution such as a datawarehouse with multiple aspects of BI is a considerable undertaking even without the additional requirements driven by financial regulation. The core aspects of using a proven architecture with proven technology and reliable delivery resources would be important for the success of any data warehouse while failure to adhere to these principles for Solvency II would bring substantial additional risk of over spend and regulatory penalties.  Agile Solutions technical expertise spans the Solvency II requirements for proven data quality, data integration, data modeling, BI dashboards and report delivery from design through to build and completed application management.

Solvency II Data Profiling & Quality, Architecture Service, Agile Delivery and Technical Consulting are available individually or as a package.

Visit us on Informatica Marketplace   Here

Would you like to discuss your requirements?

Contact us today or call on 0141 332 9785