Abacus Insurance

Product Description

Abacus Insurance is an end-to-end standard software solution for regulatory and statistical reporting, from data collection, validation and preparation to the submission of quantitative and qualitative reports. It aims at reporting requirements under EIOPA’s Solvency II (Pillar 3) and EIORP II Directives. More than 200 entities in 21 European countries successfully submit their reports to local supervisors. Moreover, Abacus Insurance covers 20% of the Irish market.

Abacus Insurance (known as ABACUS/Solvency II prior to its renaming in September 2019) can be flexibly used for smaller, medium-sized as well as for very large insurers, reinsurers and pension funds with complex and diverse IT landscapes. The solution supports reporting agents in integrating big volumes of data in various formats stemming from multiple functions and thus improving data quality and consistency. It offers diverse possibilities to analyze the stored data and can therefore also be used outside of regulatory and statistical reporting, for example, for management reporting.

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Tool Features
  • XBRL Collaboration Tools
  • XBRL Processors/Software Libraries

Regnology is a leading international provider of innovative regulatory, risk, and supervisory technology solutions (RegTech, RiskTech, and SupTech), of AEOI and tax reporting products, as well as of services along the Regulatory Value Chain for financial services. Regnology has been a partner for banks and regulators for 25 years. Until the end of 2020, the company was part of BearingPoint group and operated under the name BearingPoint RegTech. Since the sale of the RegTech business to private equity firm Nordic Capital, the company has been independent. In June 2021, the company joined forces with Vizor Software and recently changed its name to Regnology. In total, Regnology serves more than 7,000 financial services firms with reporting solutions. At the same time, the company enables more than 50 regulators and tax authorities on five continents to collect data from 34,000 firms in 60 countries. Regnology has a total workforce of over 770 employees at 17 office locations in 12 countries.

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