Oracle Launches Applications for Solvency II Reporting, Analysis

To help insurers achieve compliance with Solvency II requirements and realize greater financial performance through better management of their capital, Oracle announces Oracle Insurance Applications for Risk and Solvency II Compliance as part of the Oracle Financial Services Analytical Applications suite of products.

Oracle’s suite of advanced risk and compliance applications provides insurers with a unified view of risk across multiple areas including insurance, market, operational, credit, liquidity, and underwriting risks. It provides an enterprise-wide view of risk through “out-of-the box” business intelligence analytics. Oracle’s applications enable strategic decision making and capital planning with the extensibility and speed to meet future regulatory requirements.

“To comply with Solvency II, insurers in Europe need to assess how they manage all solvency-related data as the EIOPA December 2013 deadline approaches,” saysS. Ramakrishnan, group vice president and general manager for Oracle Financial Services and Analytical Applications. “Oracle's offering for Solvency II provides insurers with a ready-to-deploy solution that can accelerate the speed of compliance and reduce complexity. It can provide the unified view of risk, finance and actuarial information that insurers require to optimize capital allocation and better position their organizations for success.”

The pre-built, ready-to-deploy applications equip life, non-life, health, and reinsurance institutions operating across multiple jurisdictions to understand and address Solvency II requirements, create a long-term solution to manage all of their data centrally, and better manage their operational and market risks.

By leveraging the data quality, integrity, reconciliation and lineage tools available within the applications, insurers can rapidly and reliably increase the quality of their Solvency II reporting and related risk management processes. Workflows, notifications, security, and full audit capabilities enable insurers to effectively address the Own Risk and Solvency Assessment.

 

Comments

Resource Center

View All »

Complimentary Case Study: Helping achieve your financial goals By:...

Find out how a Special Investigation Unit used TLOxp to save the company money and...

Do Your Clients Hold The Right CDL License?

Learn about the various classes of CDL Licenses and the industries that are impacted by...

Integrated Content & Communications: A Key Business Issue For Insurers

Insurers are renewing their focus on top line growth, and many are learning that growth...

High Risk Insurance Coverage in the E&S Market

Experts discuss market conditions, trends and projected growth in a rapidly changing niche.

Top E-Signature Security Requirements

This white paper covers the most important security features to look for when evaluating e-signatures...

EPLI Programs Crafted Just For Your Clients

Bring us your restaurant clients, associations and other groups and we’ll help you win more...

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

Tech Digest eNewsletter

Technology related insights for insurance professionals including key developments, solution providers and news briefs from the carrier front – FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.