Solvency II IT Vendor Spectrum

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9 June 2010
Nicolas Michellod

Abstract

Solvency II brings drastic changes to the way prudential capital is calculated, but for insurers, the main impact is not just in its quantitative elements. With Solvency II, the regulator also emphasizes the qualitative dimension through pillar 2 and, to a certain extent, pillar 3.

In this report, Solvency II IT Vendor Spectrum, Celent looks at vendor solutions that might be identified as key elements for implementation by insurers to improve their risk management framework and comply with Solvency II.

Vendors

Solutions

Algorithmics

Economic Capital, Risk Management, and Solvency II

Aon Benfield

S2Metrica and ReMetrica

Barrie & Hibbert

ESG

CSC

Insurance Optics/Financial Risk Intelligence

Effisoft

Valdys Internal Control and Assuretat

FRSGlobal

FRSGlobal Risk Pro and RegPro Solvency II Solution

IBM

IBM Solvency II Solution Framework

Informatica

Informatica Platform composed of PowerCenter, PowerExchange, Informatica Data Quality, and Informatica MDM

Intuitive Collaboration GmbH

PillarOne.RiskAnalytics

Kamakura Corporation

Kamakura Risk Manager

Moody’s Analytics

Fermat Solvency II

SAP AG

Governance, Risk & Compliance (GRC), Business Objects Business Suite, and Business Planning & Consolidation (BPC)

SAS Institute

SAS Risk Management for Insurance

SimCorp A/S

SimCorp Dimension

SS&C Technologies

PTS (Insurance)

SunGard

iWorks ERM

Sword

Sword Operational Risk for Solvency II, Sword ERM for Solvency II, and ORIC

“Insurers need to define a clear roadmap to get ready for Solvency II before selecting which IT vendors to work with,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and author of the report. “Solvency II is not just about IT alignment; it also relates to various resources. However, insurance companies that neglect the importance of IT alignment in the frame of their Solvency II preparation program will be less inclined to gain competitive advantage.”

This report provides detailed descriptions of IT vendors and their offerings in each category of the Solvency II IT layers. Some vendors offer multiple solutions that can cover one or more areas of Solvency II, while others have a unique solution covering specific functional elements.

Insight details

Content Type
Reports
Report Type
Technology trends, Vendor landscape
Location
EMEA
Special Interest
Risk Management & Compliance