Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced the launch of an online diagnostic tool in collaboration with Solvency II Wire. The tool is intended for insurers & asset managers who need to determine their state of readiness to address Solvency II and its associated obligations.
Solvency II obligations are placing pressure on institutions to have a deeper understanding of their current and future trading and investment risk exposure. Thomson Reuters Solvency II diagnostic tool takes less than 10 minutes to complete and provides users with the information they need to assess whether they are ready to comply with Solvency II.
“As Solvency II requirements become increasingly complex and demanding, we continue to work closely with our clients and industry experts to develop offerings to help them better meet their evolving regulatory and operational obligations,” says Tim Lind, global head of Financial Regulation Solutions at Thomson Reuters. “This tool will aid practitioners in better addressing their state of readiness for Solvency II and is a valuable informational tool.”
There is contextual information on Solvency II throughout the diagnostic process and the output, a personalized report, contains data to identify any information gaps. The tool is part of an integrated suite of risk management products and solutions and further extends Thomson Reuters service offering.
“We are delighted to work with Thomson Reuters and build on our existing initiatives of tracking the implementation of Solvency II.
This collaboration will provide valuable information from the industry, which combined with the regulators’ perspective will deliver a broader and better rounded picture of the state of implementation across Europe,” said Gideon Benari, editor, Solvency II Wire.
“In the run up to the 2016 implementation deadline, Solvency II is becoming a growing factor in the business decision and planning of insurance firms. Given the scope of the directive, understanding how it is being implemented across Europe is vital not only for European insurers and related industries but for those doing business with European firms,” added Benari.