RiskReporter is Solvency II insurance software that helps organisations with their Pillar 3 reporting and beyond. RiskReporter transforms raw data from multiple internal and external sources to produce validated reports in the format required for Solvency II Pillar 3 while creating a management reporting platform that can extend beyond regulatory compliance.
As Solvency II continues to roll on, the next major hurdle for insurers becomes Pillar 3 reporting. This presents a number of challenges for insurers with their reporting processes. In particular, they need to consider how best to manage their data and systems to ensure they implement faster, more accurate reporting methods.
We call RiskReporter a ‘last five mile’ solution because it bridges the gap between data and reporting output. RiskReporter differs from similar products because it goes beyond the production of reports for regulatory reporting, what we term the ‘last mile’. Instead, it also collates, aggregates and validates data from various sources and implements them into a standard set of workflow tasks. This allows insurers to write complex and numerous data extract queries whilst also reducing the time and risk of error in producing quantitative reporting templates (QRTs) and other qualitative reports.
Key benefits of RiskReporter:
- Data warehouse and reporting engine that collates, aggregates and validates data from multiple internal and external sources for automated use in report generation.
- Easy configuration avoids the need for specialised IT department input.
- Repeatable and controllable reporting process that allows users to collaborate within a short reporting window.
- Updates to reflect regulatory changes.
- Integrated qualitative reporting with embedded links to quantitative data thereby ensuring consistency between QRTs and disclosure documents.
- Extendable to wider management reporting beyond Solvency II.
- Integration with Willis Towers Watson software solutions.
- Fast track implementation support from Willis Towers Watson.