Proven and audited
Used by 60+ companies in 10 countries.
Received an ISAE 3000 audit declaration.
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Perform calculations and produce reports immediately after installation.
Always fully compliant
We will keep SII Engine and your company fully EIOPA compliant at all times.
The SII Engine performs the Solvency II SCR standard formula, following the latest Technical Specifications ratified by EU Parliament. Internal and partial-internal models are also supported.
The SII Engine performs calculations for ORSA process and reporting. Customized forecasting, stress test and scenarios, and see the impact on SCR, SII Balance Sheet and other SII results.
SII Engine delivers all EIOPA QRTs, following the latest specifications and guidelines. Day 1 reports, validations and crosschecks are part of the QRT delivery. All reports are delivered in XBRL format.
Codan has been using SII Engine since December 2013 for standard formula SCR calculations, regulatory reporting and stress testing. Codan has a very complete and high quality SII data coverage and has in the space of 3 months automated the data input requirements for the SCR calculations.
The Danish association of Mutual Insurers Gensidig Forsikring, which also includes members of AMICE, conducted a 7-week Proof of Concept with 2 vendors - a provider of Business Analytics SW and Asseco, before making the final decision to select SII Engine.
Since 2014, 20+ Mutual Insurers have used the SII Engine for annual and quarterly regulatory reporting, following the decision of the Insurance Regulator in Denmark, to implement Solvency II based on capital requirements calculation and reporting ahead of the 2016 deadline.
During the first half of 2014 Mandatum Life conducted a thorough testing of the SII Engine in a Proof of Concept project. Mandatum Life will be using the SII Engine for standard formula SCR calculation and QRT reporting. Mandatum Life is currently integrating SII Engine with their enterprise data warehouse.
Perform forward-looking assessments of capital and risk, continuous monitoring of SII requirements and own risk assessment vs. standard formula.
The Non-Life Best Estimates module can calculate claims and premium provisions, net and gross, and the required run-off triangles.
Automated Data Sourcing
Capitalize on your investments made in data management, by sourcing data automatically to SII Engine, using the SII Engine Data Mart.