Insurecontrol is supporting a growing list of insurance companies,
currently operational in 14 countries in EU. Customers include insurers in the range
from small one-line of business, to large enterprises and insurance groups, and are in business of both non-life, life, health and reinsurance.
Alm. Brand, a financial services group, incl. a bank and insurance company based in Copenhagen, uses the SII Engine for both Non-life and Life reporting. They use the engine for both standard formula and internal model calculations, and has integrated data sourcing with their datawarehouse. In addition to quarterly and annual reporting, they produce reports for monthly management information. This case shows how the flexibility of the solution can manage large group set-ups, with customer specific developments.
“The SII Engine is very effective in producing the comprehensive requirements for Solvency II, and is at the same time highly intuitive for the user to understand all parts of the process, so we can be confident with our submissions to the supervisor” – Lars Aga Reisæter, CFO
Landbruksforsikring located in Norway, decided to install the SII Engine, in order to automate and comply in a time-effective manner. The SII Engine was installed in 1 day, and after some data upload workshops, the CFO was able to calculate his full SCR and produce his full set of reports within 10 days. Landbruksforsikring is now more comfortable and in control during reporting deadlines, and can focus more on optimizing their business in relation to Solvency II.
During the first half of 2014 Mandatum Life based in Finland and Baltics, conducted a thorough testing of the SII Engine in a Proof of Concept project. Mandatum Life is using the SII Engine for standard formula SCR calculation and QRT reporting, with an integrated set-up to their enterprise data warehouse. In addition the group company, Sampo Group, is using the solution for group reporting, both quarter and annuals.
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