BSB is working with Wolters Kluwer Financial Services, a leading worldwide provider of risk management, compliance, finance and audit solutions for the financial services industry, to help insurance companies operating in Luxembourg meet Solvency II requirements.
By combining the two companies' joint expertise, insurers are able to utilise a fast, cost-effective platform to maintain Solvency II reporting compliance.
Wolters Kluwer Financial Services' extensive experience of regulatory reporting, data management and risk management helps companies meet a full range of regulatory requirements, across both Solvency II and those of national authorities. The company's Solvency II solution is now linked with BSB's track record for integrating its own and third-party software solutions into complex IT environments.
Joël Wozniak, Director BSB Luxembourg commented: "With BSB's proven Solife solution for policy administration, and the availability of a proprietary SaaS platform, we have created a unique and powerful offering for insurance companies looking for a fast-track means of addressing their Solvency II reporting needs. There is a close synergy between BSB and Wolters Kluwer Financial Services, enabling us to provide a comprehensive Solvency II solution that is backed by excellent support and implementation services."
Wolters Kluwer Financial Services' Solvency II solution is designed to address a company's needs across the enterprise — from a fully holistic solution across financial calculations, operational risk management, statutory and senior management reporting, to individual functionality that can be integrated with existing processes to match a company's unique structure.