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    Regulatory Reporting Software of the Year: Moody's Analytics

    March 2021

    Regulatory Reporting Software of the Year: Moody's Analytics

    InsuranceERM Annual Awards 2021 - UK & Europe

    ​Written by InsuranceERM.

    Ever-increasing regulatory demands, such as IFRS 17 and the US long-duration targeted improvements (LDTI) accounting standard, accentuate the need for tools to help with more frequent and timely reporting.

    Moody's Analytics' solutions for disclosing and communicating information have kept up with insurers' changing demands, and this is why it wins the best regulatory reporting software category.

    Its tool supports the delivery of group and solo-entity quantitative reports to help insurers comply with regulatory reporting requirements, such as Solvency II and other similar solvency regimes.

    Moody's Analytics made several enhancements to this offering in 2020. For example, the Advanced Reporting Module is one new feature which enables customised reports, metrics and tables to be created.

    Report sets are another new feature, allowing clients to set up several reports for multiple projects, or refresh data for an old report set if the data in the source project has changed.

    The RiskIntegrity Suite from Moody's Analytics, meanwhile, offers standard formula and internal model capabilities covering solvency capital requirement, minimum capital requirement calculations and regulatory reporting/quantitative reporting templates.

    Moody's Analytics RiskIntegrity solution for IFRS 17 also covers all fulfilment and disclosure requirements for IFRS 17. It enables clients to gain insights into their underlying financial dynamics, risk and business performance drivers.

    A spokesperson for Moody's Analytics says regulatory reporting is becoming more demanding for insurers.

    "More and more data is required, as well as increasing levels of sophistication in the preparation, calculation and verification of that data. This must be implemented in an increasingly complex landscape of tools and processes."

    The spokesperson adds: "Our solutions come pre-configured with the reports and disclosures required for regulatory reporting and we maintain all the necessary calculations, rather than clients having to figure it out."

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