Automation of reporting for technical provisions

Automation of reporting for technical provisions

The regulatory requirements of Solvency II stipulate that insurance companies implement efficient reporting processes. This poses a challenge to many insurance companies operating at a global level. One of the leading international industrial insurers is Allianz Global Corporate & Specialty (AGCS), which has subsidiaries in 25+ jurisdictions. As part of the “TechDB” project, the Q_PERIOR team designed a solution to process and prepare technical provision data from Actuarial, Accounting, Claims and Underwriting and provide this data for actuarial reporting purposes. The goal of the project was to standardize and automate the calculations and processes, the consolidation of the numerous feeder systems, and validation of the data at an earlier stage in the process. The design was validated early in the development cycle by prototyping key concepts. The automation of this process was paramount to meeting the ever increasing reporting requirements resulting from higher data volumes and increasingly tighter deadlines.

What has our client achieved with this?

  • Efficient closing process
  • Improved data quality and comprehension of reported data
  • Standardized calculations and processes between the departments
  • Efficient feeder-interfaces
  • Early stage validation of data from various reports
  • Limited the number of manual interventions in the process

Our Approach

Q_PERIOR successfully implements digitalization projects for insurance companies – from analysis and conceptualization through deployment. Find out more about the specifics of our approach – in close collaboration with our customer!

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We look forward to your challenge!