Algo Audit and Compliance

Features and Benefits

Increases confidence with enhanced security and full auditability
Algo Audit and Compliance provides insurers with outstanding levels of security. Designed to mitigate the risk of data being tampered with or altered, this Standard Formula reporting tool features version control as well as providing checks and approvals for use of both data and assumptions

Offers smooth cost-effective integration with existing infrastructure
Algo Audit and Compliance offers insurance firms easy, cost-effective integration with their current infrastructure. It features the capability to use information from existing systems and file formats – for example, spreadsheets in Excel – in full regulatory compliance with Pillars 2 and 3 of Solvency II. 

Reduces reporting time and enhances efficiency by streamlining workflow processes
By streamlining workflow production and execution processes, Algo Audit and Compliance enables insurers to reduce reporting time, while conforming to governance and reporting requirements under Solvency II.  This enables management to focus attention on risk analysis and primary business activities. 

Supports ease of use with pre-configured reports for Solvency II
This Standard Formula reporting tool offers insurers a web-based interface and a range of pre-configured templates for Solvency II, including QIS 5 and QRT quantitative/qualitative, with the flexibility to add more as they are developed or create custom report templates as local regulations require.

Offers seamless migration to more powerful analytics, as part of a complete Solvency II solution
Algo Audit and Compliance, part of the Compliance and Reporting Edition of Algorithmics’ Economic Capital and Solvency II solution, offers insurers the option to scale up to the more powerful editions.

Related Solutions

• Economic Capital and Solvency II