Solvency II requires insurers within the EU to manage risk and capital requirements effectively, promoting financial stability and protecting policyholders. A critical aspect of Solvency II is regulatory reporting. Which mandates insurers to submit extensive data on their solvency positions in a structured, standardized format. This ensures transparency and enables efficient supervision by authorities such as the National Bank of Belgium (NBB), De Nederlandsche Bank (DNB) and others.
Our solution is purpose-built to streamline Solvency II reporting through automatic XBRL (eXtensible Business Reporting Language) conversion. Which translates complex data into a standardized digital format recognized by regulatory bodies. This automation drastically reduces manual work and minimizes error, allowing insurers to focus on strategic compliance rather than technical data transformation.
With our solution, firms can effortlessly convert regulatory reports into XBRL and validate them against all applicable validation rules. Ensuring that submissions are accurate and fully compliant with the latest Solvency II requirements. Our comprehensive validation engine identifies and resolves errors in no time, preventing rejections and revisions from the NBB and other regulatory bodies. Furthermore, seamless integration ensures that report submissions are completed in a smooth, timely manner, fostering transparency and compliance with EU standards.
Our automated solution simplifies the complexity of Solvency II reporting, saving time and resources while meeting rigorous compliance standards, making it ideal for firms needing reliable, efficient regulatory reporting capabilities.
Transform Your Reporting Process – Get Started Today!
FactoriX and XBRL Factory-SE are designed to simplify your Solvency II reporting, transforming your workflow into a streamlined, efficient process. Contact us today to discover how we can revolutionize your reporting experience and ensure your compliance with ease.