The insurance companies ...

.. are confronted with numerous new qualitative and quantitative requirements due to additional reporting requirements within the framework of Solvency II. ORSA, RSR and SFCR are additional reports which are to be created not only by group, but also by every single insurance subsidiary.

The good news is that there are great similarities between the reports of single subsidiaries. This means that there is no need to reinvent every RSR, whole parts from the „Health“-RSR can be reused in the „Car“-RSR.

SmartNotes offers a perfect platform for the intelligent reuse of the same text blocks with the FACTORY-Module. Within the FACTORY you can arrange a library of standard text blocks that can be reused when creating new reports. Changes in „Master Document“ can be inherited by „Sub Documents“. Similar reports, such as RSRs, ORSAs, etc. can now be produced very quickly.

Apart from the qualitative report creation, establishing report tables (the so-called „QRT‘s“) in XBRL format presents a great challenge. The EIOPA and the corresponding national controlling authorities offer necessary report tables as XBRL taxonomies. The SmartNotes EUROFILING Module offers convenient possibility to generate reports, based on the XBRL taxonomy, in a controlled reporting process. For further information regarding the EUROFILING Module please read here.

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