Solvency II Standard Formula Model

Additional code library for Solvency II calculations including a mix of out-of-the-box standard code to use alongside existing models as well as template models to build upon to assist in rapid development of full end-to-end Solvency II compliance.

Standard Formula

The Solvency II Model add-on is for insurers seeking to cost-effectively adopt a Standard Formula approach to Pillar 1 of Solvency II. Designed for speed and quick-start deployment, this Model add-on includes a template capital model that can be adapted to your own business. It also allows you to avoid replacing existing actuarial systems, yet still supports regulatory compliance, by enabling you to aggregate results from disparate systems to perform required solvency capital calculations. The benefits of the Solvency II Model add-on include:

  • Provides Standard Formula aggregation models at both solo and group levels.
  • Enables creation of a capital model tailored to help meet your EIOPA requirements.
  • Helps reduce costs with the flexibility to work with existing or third-party actuarial systems.
  • Accelerates regulatory compliance as part of a comprehensive Solvency II solution.
  • Enables migration to a partial or full internal model at a later date.
  • Helps you optimize benefits while controlling costs by enabling you to use proxy modeling in Foundation with your existing actuarial models.

ORSA and Curve Fitting Models

The Own Risk and Solvency Assessment (ORSA), Forward Looking Assessment of Own Risk (FLAOR), and Curve Fitting Model add-on offers you options for projecting solvency capital requirements (SCRs). This add-on includes a template FLAOR/ORSA model for fully-nested stochastic internal models, in addition to curve fitting and Least Square Monte Carlo (LSMC) methods if you seek to adopt a proxy approach. The benefits of the ORSA and Curve Fitting Model add-on include:

  • Improves the efficiency of full and partial internal models for projecting SCRs, and enables FLAOR/ORSA calculations without costly investment in new hardware.
  • Enables you to deploy either a fully-nested stochastic model or the curve fitting model of your choice.
  • Helps you optimize benefits while controlling costs by enabling you to use proxy modeling in Foundation with your existing actuarial models.