Spreadsheet Data Transparency & Use Test Support for Solvency II

Solvency II means that insurers face the challenge of producing frequent high quality information about their risk and solvency position in a demonstrable, repeatable fashion (the 'use test'). This is made much worse by the long chain of data manipulation that must be completed.

Print Version

ClusterSeven’s software enables you to control and accelerate these activities. It also gives you the time and information for your main IT program, becoming an integrated part of a solution for the best of both spreadsheets and systems.

ClusterSeven controls the full spreadsheet lifecycle, from mapping spreadsheet data flows and risks, through to checking the integrity of data changes and user activity. All of this information, including the status of control processes and data trends, can be directly integrated into your overall Solvency II data model for a unified picture of solvency, risk and demonstrable evidence for regulatory 'use tests'.

Print Version

" I still see audit reports or project plans that recommend replacing spreadsheets and manual processes with an ‘IT solution’. This will never happen. It is impractical to replace 2 or more fragmented systems with a single system. Replacing the spreadsheet operations with ‘IT designed’ ones only compounds the problem and removes any ability of users to address problems. The only ‘solution’ is to eliminate the worst processes, and to apply appropriate controls to the ones that remain. "

Dean Buckner, FSA

The 3 Pillars of Solvency II

1. Capital Requirements

  • Access to data
  • Flexibility of modelling and approach for internal models
  • 2. Qualitative Requirements

  • Enhanced governance and controls
  • Repeatable ORSA (Own Risk and Solvency Assessment) based on various criteria
  • 3. Disclosure Requirements

  • Transparency of information
  • Transparency of information flows leading to decisions made