SAS® Solution for Solvency II Features

Risk process

  • Includes workflow-enabled capabilities that encapsulate an end-to-end business flow, including various facets of data management and iterative analytical computations on that data, augmented with one or more iterations of adjustments and interspersed with appropriate review/approval stages.
  • Allows task coordination and people interactions.

Risk data management

  • Provides integrated data quality tools that eliminate or reduce data inconsistencies.
  • Automates data collection and consolidation, error handling and data processing.
  • Supports integration with third-party risk applications.
  • User security capabilities let you create and amend user security for access, authentication and authorization.
  • Self-documenting audit functionality provides a complete audit trail of all changes to data and risk models.

Risk analysis & aggregation

  • Calculates Solvency Capital Required (SCR) and Minimum Capital Required (MCR) for entities on both levels – solo and group.
  • Calculates capital requirements at different levels of detail – from contracts level to entity level.
  • Calculates and aggregates risk capital across all risk types (market, life, P&C, health, credit and operational risk).
  • Calculates risk margin for nonhedgeable insurance liabilities.
  • Enables modeling of assets and liabilities on a market-consistent basis.
  • Calculates reinsurance receivables.
  • Calculates available capital and solvency ratio.
  • Provides full transparency and auditability of calculations.
  • Allows changes in assumptions and exploration of the variances based on the changed parameters.
  • Provides an open and scalable architecture to support your organization's internal model approach.

Risk reporting

  • Includes web reporting tools, such as customizable dashboard and ad hoc reporting capabilities.
  • Prebuilt risk reporting includes standard reports (QRT) both in XLS and XBRL formats, as per EIOPA requirements.
  • Provides an extendible validation rules engine that includes more than 600 predefined intra- and interreport validation checks that meet the latest EIOPA specifications.
  • Manages ongoing regulatory updates and support for the local supervisor's preferred language.