August 26, 2015
The fastest way to achieve full Solvency II compliance
April 2, 2015
OOliba launched it’s cloud based solvency II solution. The solution covers pillarI, II and III.
The solution brings to you:
- Our tried and tested Standard Formula model allowing you to calculate your Solvency Capital Requirement (SCR) or Minimum Capital Requirements (MCR). Depending on the needs and complexity of your business, other actuarial models are available such as: Market Risk, Best Estimate of Life, Non Life, ORSA, Health and Workers’ Compensation etc.
- Full Auditabilty and traceability. OOliba is an integrated solution and ensures complete client confidence throughout all secure data, models, runs and codes when used at any time regardless of their origin. All information is referenced, versioned and archived in the absolute secure database. The dependencies behind each run are individually tracked and can easily be traced back and provided to the national authorities if required.
- Transparancy. OOliba is not a “black box” solution but a user friendly graphical and hierarchical representation of models and calculations. The client or authorised user can drill down to the latest detail or calculation level for personal confidence and data verification.
- Reporting. OOliba provides many varied outputs. Generate your Quantitative Reports Templates (QRTs) in both XBRL or xls formats. Display various standard management reports as required. The output data files can easily be integrated or imported in to any client’s third party reporting system or data warehouse via efficient and secure xls, csv, xml or rdbms transfer.
- Business Processes. OOliba makes email approvals something from the past. Being intuitive and easy to use, the OOliba business process models your entire Solvency II needs and processes. OOliba ensures all team members, both internal and external, are on the same page with the same up to date information. SCR may not be adequate on its own and a number of calculations may need automating; for example overall process approval may be required from a given department or individual and thanks to OOliba this can easily be done. By the pressing of just one button the complete Solvency II process is executed.
- The Cloud. OOliba’s Software as a Service (SaaS) solution is delivered by subscription over the web and requires no IT expertise or additional internal investment. Your dedicated application will be hosted and maintained by the OOliba team (including new functionalities and evolution of EIOPA specifications). There is no additional hardware or software to purchase or maintain making OOliba implementation fast and effortless.