Solvency II Solutions and Silverfinch have announced a joint offering to help asset managers and insurance companies to share their look through data required for Solvency II reporting.
It will also provide companies a simple ‘end-to-end’ service which will be compulsory across the European economic area from the beginning of 2016.
Through its tabular platform, the firm offers the insurance and asset management community a low cost excel based platform for Solvency II data integration and XBRL reporting, while Silverfinch’s allows asset managers to control delivery of proprietary data to clients.
John Staines, CEO of Solvency II Solutions, commented: “The requirements for look through under Solvency II will put many insurers under pressure, as they invest across many asset managers.”
“Silverfinch has brought a unique model to the market which ensures the implementation of a data standard, endorsed by French, German and UK associations, across both the insurance and asset management industry in the most cost effective many for the industry,” he added.
John Dowdall, managing director of Silverfinch, said: “We are very pleased to announce the ability for Silverfinch data to be integrated with Solvency II Solutions. The idea behind this was to develop a seamless offering which makes complying with the new Solvency II reporting requirements effortless for asset managers and insurance companies.”
“The seamless integration of Solvency II Solutions’ Tabular XBRL reporting tool and Silverfinch will allow the asset manager and insurance markets’ access to a cost efficient and complete end-to-end solution that is up and running within minutes.”
