From 2016 numerous businesses in the insurance sector has had to report Solvency II to their local authorities. The reporting has to comply with the rules and validations made by the European Insurance and Occupational Pensions Authority (EIOPA).
Solvency II is a consolidation of 14 existing directives, which has been attributed to additional rules. The purpose is to ensure better and more harmonized rules for the insurance industry across the EU.
This counts for the reporting forms: QRT (quantitative Reporting forms), RSR (regular supervisory reporting), SFCR (solvency & financial condition reporting) etc.
Companies has to deliver their Solvency II reports in the XBRL format to their local receiving authorities.
ParsePort has made a number of solutions that enable insurance companies to produce these reports to the receiving authorities in the XBRL format. We provide simple, cost-effective, user-friendly and easy solutions such as Reporter, which validates and create XBRL files directly from EIOPA’s own reporting templates, and complex solutions where we integrate with databases and consolidate data into each field in the reports.