Solvency II Agility

Rapid Delivery, Visualised & Trusted data

The three pillar approach to Solvency II clearly identifies a number of analytical, management and disclosure requirements in order to reach regulatory expectations. Quantitative, capital and investment rules and will have to be supported, managed and reported bith internally and externally for supervisory reasons. The related technical challenges to support these requirements are extensive and can be difficult to deliver without the correct approach to architecture, information management and project management.

Agile solutions not only has experience in building a supportive technology framework but can ensure that core information management techniques can be embedded into the Solvency II architecture. The use of agile delivery methods to ensure that our Solvency II projects track and react to changes is fundamental to ensuring that project risk is reduced.

By applying and selecting technology suitable to the agile approach we bring if further accellerators to ensure your solutions delivery will operate at a higher velocity than a bloated waterfall team.

Solvency II Architecture - Cured

The selection of a proven Solvency II architecture can have a significant impact on the eventual delivery of the supporting solution. A number of key areas need to be are best addressed by proven technical capability:

• To clearly assist with design specification and estimate build requirements for integration while offering productivity enhancing features.
• The ability to easily identify and adapt when data sources are flawed while ensuring that data flows are efficient and auditable.
• To enhance understanding and measurement of the quality and availability of existing information within the insurer.
• Enable sound internal controls and record of lineage for each step of data processing giving auditable trust in data.
• Ensure reliable and timely delivery of data visualization and reports.

Solvency II technology requirements should also be seen as offering potential business benefits outside of the regulatory requirements and should not be limited to the calculation and reporting of capital. Solvency II driven technology investment should be viewed as a key opportunity to improve existing processes, information management and reporting tools. Critical building blocks to a Solvency II architecture are data warehouses and data marts, which will store both the input and the results, both intermediate and final, of modeling exercises. They are essential to the implementation of a strong audit trail, a key element for Solvency II model approval.

Agile Solutions offer proven technology components to support existing Solvency II and future business requirements based on leading technologies for data integration, data quality, data governance, data warehouses and reporting. The Agile Solutions Solvency II architecture utilizes proven methods and components within each of these information driven initiatives to ensure that no unproven technology or approach can put the eventual delivery at risk.

The Solvency II architecture has been specifically pre selected to support an “Agile” delivery methodology by utilizing advanced prototyping, automated release and flexible design methods.

Solvency II Delivery - Cured

It can be very attractive to invest in a prescriptive waterfall delivery of a regulatory driven solution. However to understand the challenges of Solvency II brings with it clarity of an inherent risk in the waterfall approach. The ability to support rapid change and track to requirements when utilizing a prescriptive waterfall delivery requires an acceptance of built in contingency. The affect on delivery schedule, team size and management requirements significantly increases cost while offering no increase in delivery assurance other than an acceptance that change will occur and it will be difficult to manage.

Agile Solutions proven use of Agile delivery methodologies for large scale information initiatives within a large enterprise offers a more cost effective delivery while also reducing risk through closer tracking of changes. We will ensure that the leading principles of Agile are adhered to while also continually identifying improvements in the delivery process through iteration refinement processes. The result of this is a creation of a Solvency II rapid delivery team capable of reacting to changes within business or regulatory requirements through working in close collaboration with the business, utilizing advance technology to the maximum, proven design approaches and automated deployment that will improve with every iteration.

Solvency II Technical Solutions

The Principle of Agile Solutions Solvency II solutions is a component based approach utilizing best of breed technology from leading enterprise information management providers.

Our solutions will deliver:

• Integration capabilities for all possible data sources internal and external
• Built in automated metadata population and reporting to assist with data lineage and audit requirements
• Integrated data quality profiling, management and metrics reporting
• Rapid processing of analytical algorithms, data delivery and visualization of data through dashboards and reports.
• Ultimate scalability through mpp or columnar database technology

Agile Solutions technology will also assist with a rapid deployment of the solution through agility. That is the software will assist delivery through reducing complexity of the end solution for the following reasons.

• A single integration solution means simpler release requirements and more scope for automation.
• Integrated data quality means no additional data quality technicians
• Extensive Metadata reporting means faster and accurate data sourcing and more data re-use
• Integrated data profiling means rapid quality assessment, accurate integration estimation, accurate specifications & readily imported integration metadata
• The use of appliance technology to remove the need for multiple aggregates and therefore reduce development time of integration, database processing and database administration
• A single dashboard and report tool to reduce the need for multiple skill sets and additional resources

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