Solvency II - The Bordereaux - Acord

IntraliSOLVENCY IIPresentation to the ACORD Clubwww.viprsolutions.com ‐ Contact Bob Brown 07796 143902

SOLVENCY IIInternal Model ApprovalApplicant must show ability toaccess data which is:• Accurate• Auditable• Easily and repeatedly accessible• Easily interrogated…www.viprsolutions.com ‐ Contact Bob Brown 07796 143902

Resultant ProblemsData is:• Unreliable• Produces incorrect assumptions and results• Difficult and time consuming to interrogate• Hard to audit• Requires labour intensive processes tounderstand• Makes internal model approval problematic…www.viprsolutions.com ‐ Contact Bob Brown 07796 143902

Bordereaux Management SolutionsA successful Bordereaux management tool must;•Import multiple Bordereaux data in different formats quickly andeasily into a single platform• Allow instantaneous & repeated future imports based upon initialtemplate•Import data from xls, xlsx and pdf documents into one standardlayout determined by the customer• Pre‐populate mapping fields where possible eg e.g. using Lloyds list oflicensed countries• Monitor mailboxes and ftp servers for new files and automaticallyimport them when found•Sanity check, cleanse and format data into an agreed standardusing ISO codes and ACORD compliant structures where applicablewww.viprsolutions.com ‐ Contact Bob Brown 07796 143902

Bordereaux Management Solutions(Cont’d)A successful lBordereaux Management tool must;• Flag & correct erroneous data• Monitor trading patterns and highlight breaches i.e. tradingoutside agreed parameters, exceeding aggregate limits etc• Produce warnings and reminders e.g. Bordereau due/overdue• Enable user to set up bespoke reports making managementinformation easily accessible• Produce reports showing individual data errors and contractbreaches• Simplify the process of auditing i and tracking business…

In SummaryIt’s imperative to:• Address the key issues raised by Solvency II• Ensure data accuracy• Facilitate full and detailed understanding ofbusiness transacted• Efficiently collate and store data• Utilise a bespoke reporting suite, enablingreports to be quickly and easily created and stored for future use• Automate previously labour intensive processes enabling staffdeployment elsewhere• Ensure data can be quickly and easily interrogated and audited…www.viprsolutions.com ‐ Contact Bob Brown 07796 143902

For More InformationContact:Bob BrownManaging DirectorVIPR LtdEmail: BBrown@VIPRSolutions.comTEL: 07796 143902Building Internet Solutions Since 1996www.viprsolutions.com ‐ Contact Bob Brown 07796 143902