A highly automated platform covering all aspects of statutory and regulatory reporting for insurers, including Solvency II, national supervisory reporting, IFRS 17, and other local GAAPs. Provides data integration, validation, and reporting production in multiple formats.
More about BearingPoint RegTech (now part of Nordic Capital)
Software that automates the preparation and submission of required regulatory filings, ensuring accuracy and timeliness of information provided to insurance departments.
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Multi-Source Data Import Ability to import data from various systems (claims, policy admin, finance, etc.). |
Product documentation and marketing materials emphasize data integration from multiple systems for statutory and regulatory reporting. | |
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Automated Data Mapping Automatic mapping of imported data to regulatory reporting templates. |
Automated mapping of imported data to regulatory templates is highlighted as a core automation feature in ABACUS Insurance. | |
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Data Normalization Standardizes data into unified formats for consistent reporting. |
Standardization of data (normalization) is explicitly described in technical overviews to support consistent multi-GAAP and Solvency II reporting. | |
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Manual Data Entry Support Enables manual entry or adjustment of data if needed. |
Manual data entry and adjustments are supported for corrections and exception handling according to user guides. | |
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Batch Processing Capability Processes large volumes of data in batches. |
Batch data processing for large volumes is mentioned as a performance highlight in product datasheets. | |
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Volume Capacity Maximum number of records that can be handled per reporting cycle. |
No information available | |
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Duplicate Data Detection System flags duplicate data entries during integration. |
Product specifies duplicate detection and data validation during integration as part of quality controls. | |
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Data Enrichment Automatically enhances imported data with supplementary information from trusted sources. |
Automated data enrichment with reference data and regulatory taxonomies is supported. | |
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Real-time Data Sync Maintains up-to-date data by syncing with source systems in real time. |
Real-time or near-real-time data sync is referenced for maintaining up-to-date filings and validations. | |
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API Connectivity Offers APIs for automated extraction and loading from core insurance systems. |
API connectivity is core to ABACUS Insurance for integration with core insurance and finance systems. |
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Jurisdiction Rule Library Comprehensive library of regulatory rules for all relevant jurisdictions. |
The solution offers a comprehensive rules library for multi-jurisdictional compliance (EU, Solvency II, national GAAPs, etc.). | |
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Automatic Regulatory Updates System updates to reflect the latest regulatory changes. |
Automatic regulatory updates and maintenance of current rule sets are a key selling point. | |
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Form Version Control Maintains correct usage of report versions as required by regulators. |
Controls for form version management to match regulatory expectations are provided. | |
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Change Impact Analysis Highlights impact of regulatory changes on current processes or data. |
Change impact analysis is incorporated to assess how new rules affect processes. | |
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Statutory Reporting Templates Pre-built templates for common statutory filings (NAIC, Solvency II, etc.). |
Extensive pre-built reporting templates for Solvency II, IFRS 17, and others are included. | |
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Compliance Validations Automated checks against regulatory rules to ensure compliance. |
Automated compliance validations are a core part of the product, as emphasized on product detail pages. | |
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Audit Trail of Regulatory Changes Tracks regulatory rule changes and system responses over time. |
Audit trail functionality includes tracking regulatory changes and internal responses. | |
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Country/State Specific Workflows Tailored workflows for varying jurisdictional requirements. |
Jurisdiction-specific workflow support is mentioned for different regional requirements. | |
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Exemption Handling Management of circumstances and documentation where exemptions apply. |
Product supports exemption management for regulatory exceptions. | |
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Regulatory Calendar Visualizes filing deadlines and regulatory event schedules. |
Regulatory calendar and filing schedule visualization are included as dashboard features. |
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Automated Filing Generation Creates mandatory reports without manual intervention. |
Automated generation of regulatory filings without manual intervention is one of the platform's automation features. | |
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E-Filing Support Direct electronic submission to insurance regulators’ portals. |
Support for e-filing directly to regulatory portals (for example, EIOPA, BaFin, etc.) is listed. | |
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Bulk Filing Capabilities Handles multiple filings simultaneously for large insurers. |
Bulk/multiple filing capability is advertised for large insurance groups. | |
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Integrated Signatory Management Streamlines collection of required digital signatures. |
No information available | |
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Report Scheduling Ability to schedule generation and submission of filings. |
Scheduling of filing production and submission is an automated option in ABACUS Insurance. | |
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Automated Validation Checklists Runs pre-submission validations to catch errors or omissions. |
Automated validation/pre-submission checklists are referenced for quality assurance. | |
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Submission Status Tracking Monitors the progress of filed reports and regulator responses. |
Filing status and regulator response tracking interface is described in documentation. | |
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Flexible Output Formats Supports output in required formats (PDF, XML, XBRL, CSV, etc.). |
Output supported in PDF, XML, XBRL, CSV, and other required formats per specification. | |
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Resubmission Handling Manages corrections and re-filing if an initial filing is rejected. |
The platform manages corrections and refiling for rejected submissions. | |
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Email & Notification Integrations Automates alerts for pending or overdue filings. |
Automated email/notification integrations for deadlines and exceptions are standard in user workflow. |
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Detailed Audit Logs Tracks every system and user action for complete transparency. |
Comprehensive system and user action audit trail is advertised for compliance and audit needs. | |
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User Action Tracking Links changes in reports to individual users. |
Product links changes to individual users for accountability and tracking. | |
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Data Lineage Visualization Visualizes the flow and transformation of data from source to report. |
No information available | |
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Time-Stamped Change History Provides time and date stamps for all edits and submissions. |
Edits are time and date stamped in audit logs, supporting compliance audits. | |
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Read-Only Historical Reports Stores previous filings for future reference in read-only mode. |
Historical reports are stored in read-only mode for reference and auditability. | |
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Exportable Audit Trails Offers audit logs in exportable formats for regulators or auditors. |
Audit trails can be exported for regulatory inspection, as per documentation. | |
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Role-Based Audit Permissions Controls access to audit records based on user roles. |
Role-based controls for access to audit records are described in security documentation. | |
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Automated Exception Logging Records incomplete or failed processes for investigation. |
No information available | |
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Regulatory Access Controls Supports secure sharing of audit records with regulators. |
Regulatory access controls and secure audit sharing are supported. | |
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Tamper Detection Detects and reports any unauthorized alterations to records. |
No information available |
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Automated Data Quality Checks Systematic validation of data accuracy and completeness. |
Automated validations for data quality and completeness are described. | |
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Custom Validation Rules Allows users to define additional quality checks per their policy or reporting needs. |
Custom validation rules may be set for additional internal or regulatory requirements. | |
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Anomaly Detection Detects out-of-range or unexpected data values. |
Anomaly detection (unexpected/out-of-range data) is referenced in QC functionality for filings. | |
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Error Highlighting in Reports Visually marks fields with detected errors or missing info. |
Errors and missing info are flagged visually in reporting workflows. | |
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Data Completeness Dashboard Provides visual metrics of data quality status. |
Dashboards for data completeness and data quality metrics are available. | |
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Validation Coverage Number of unique validation rules enforced. |
No information available | |
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Duplicate Record Elimination Automatically identifies and eliminates duplicate records. |
Duplicate checks and record de-duplication are included in integration pipeline. | |
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Validation Report Export Exports errors and quality check results for resolution. |
Validation results and errors can be exported for review and resolution. | |
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Interactive Error Resolution Allows users to review and fix validation issues inline. |
Interactive in-product tools help resolve validation errors inline. | |
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Audit of Validation Failures Tracks and logs all failed validations. |
Failed validations are logged and auditable for compliance. |
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Role-Based Access Control (RBAC) Enforces permissions based on user roles (admin, preparer, approver, auditor, etc.). |
RBAC is widely supported and described in security and compliance sections. | |
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Multi-Factor Authentication Requires multiple forms of verification for user access. |
Multi-factor authentication available for high-security environments. | |
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End-to-End Encryption Encrypts data both in transit and at rest. |
Data encryption in transit and at rest is a compliance baseline for the platform. | |
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Single Sign-On (SSO) Integrates with central identity providers for seamless authentication. |
Single sign-on with enterprise identity providers is available. | |
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Granular Data Permissions Defines access at the field, report, or function level. |
Granular data permissioning at field/report/role levels is described. | |
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Activity-Based Session Timeouts Logs users out after predefined inactivity. |
Session timeouts and automatic logout after inactivity are included for security. | |
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Access Attempt Logging Records successful and failed login attempts. |
Product logs all access attempts, both successful and failed, as outlined in its security documentation. | |
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IP Whitelisting/Blacklisting Restricts access to specified locations or devices. |
Configurable IP whitelisting for system access is described. | |
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User Group Management Organizes users into groups for streamlined permissions management. |
User group management for access and permissions is supported. | |
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Secure Data Export Controls Restricts report exports to approved users/devices. |
Controls to restrict exports to authorized users are included. |
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Custom Workflow Design Allows administrators to create and edit reporting workflows. |
Administrators can define and tailor workflows for different reporting requirements. | |
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Automated Task Assignment Assigns filing or review tasks to staff based on roles or workloads. |
Automated assignment of tasks based on user roles is stated as a feature. | |
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Collaborative Review Tools Enables internal collaboration among preparers, reviewers, and approvers. |
Collaboration tools for internal review and approval are highlighted. | |
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Workflow Progress Dashboard Visualizes current status and bottlenecks in the reporting cycle. |
Workflow progress dashboards visualize status and bottlenecks. | |
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Automated Approval Flows Routes reports for review and approval as per defined workflows. |
Automated approval flows are available for regulated filing processes. | |
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Workflow Templates Standardized, reusable processes for frequent reports. |
Workflow templates are included for regular filings and reporting cycles. | |
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Task Escalation Logic Automatically escalates overdue or rejected tasks to supervisors. |
Task escalation rules are available for overdue or rejected workflows. | |
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Workflow Customization Limits Number of customizable workflow steps. |
No information available | |
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Dynamic Role Assignment Reallocates responsibilities based on staff availability. |
No information available | |
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Versioned Approval Chains Tracks approval versions for each filing iteration. |
No information available |
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Intuitive Dashboards User-friendly dashboards summarizing tasks, statuses, and deadlines. |
Comprehensive, customizable dashboards are described for user and management tasks. | |
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Guided Workflows Step-by-step guides through each stage of reporting. |
Guided step-by-step workflows are available for complex reporting. | |
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Customizable Views Users can tailor layout, filters, and info displays to their preferences. |
Customizable user views and filters are a UX feature. | |
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Accessibility Compliance Meets accessibility standards (e.g., WCAG, Section 508). |
No information available | |
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Multi-Lingual Support Offers interface in multiple languages. |
Multi-lingual interface is mentioned for EU and international customers. | |
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Mobile Optimization Fully functional on mobile and tablet devices. |
No information available | |
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Contextual Help & Tooltips Embedded help resources for common issues or fields. |
Contextual help and in-app tooltips are referenced in the UX material. | |
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Error Resolution Wizards Stepwise assistants for fixing common filing errors. |
No information available | |
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Personalized Notifications Customizable notifications and reminders. |
Personalized notifications and reminders can be set for users. | |
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Rich Documentation Hub Centralized manuals, how-to guides, and policy references. |
Centralized documentation hub with manuals, guides and regulatory references is described. |
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Trend Analysis Identifies emerging patterns in compliance or filing activity. |
Trend analysis for compliance and reporting is included in analytics suite. | |
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Key Metric Dashboards Summarizes performance on critical compliance metrics. |
Key metric dashboards summarize compliance performance. | |
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Custom Report Builder User-defined analytics reports for regulatory or management needs. |
Custom report builder is available for management and regulatory analytics. | |
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Root Cause Analysis Helps identify reasons for validation errors or regulatory rejections. |
Root cause analysis for validation and compliance errors is featured. | |
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Exportable Analytics Allows exporting reports and insights to various formats. |
Analytics and insights can be exported to various formats. | |
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Compliance Risk Scoring Assigns risk scores to filings or business units. |
Compliance risk scoring for filings and entities is offered. | |
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Peer Benchmarking Compares performance with other insurers (if available). |
No information available | |
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Exception Reporting Highlights unusual or risky patterns for quick escalation. |
Exception reporting for unusual or risky activity is an analytics feature. | |
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Reporting Cycle Time Average time taken from data collection to filing. |
No information available | |
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User Productivity Metrics Shares statistics on user activity and efficiency. |
User productivity metrics are available in analytics dashboards. |
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24/7 Customer Support Round-the-clock access to technical assistance. |
24/7 customer support is advertised as part of the managed service. | |
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Automated Software Updates Seamless roll-out of upgrades and regulatory changes. |
Automated updates for regulatory changes and software improvements are a key feature. | |
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Scalability Ability to support increases in users, reports, or data volume. |
Scalability is addressed for enterprise insurers and growing data volumes. | |
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Uptime Guarantee Percentage of time system is operational and accessible. |
No information available | |
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Performance Monitoring Automated monitoring and alerting for service disruptions. |
Performance monitoring and automated alerts are included. | |
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Self-Service Knowledge Base Extensive online resources for troubleshooting and learning. |
Comprehensive self-service knowledge base is available online. | |
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Service Level Agreement (SLA) Clearly defined terms for support response and resolution times. |
SLAs are detailed in sales and support documentation. | |
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Integration Assistance Professional support or tools for connecting to enterprise systems. |
Integration assistance is provided for onboarding and upgrades. | |
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Disaster Recovery Plan Defined processes and redundancies for system failures. |
Disaster recovery procedures are outlined as part of operational resiliency. | |
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Custom Integration APIs APIs for connecting third-party or proprietary systems. |
APIs for custom integration with insurer systems are supported. |
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