PARIS, France – April 18, 2019 – Prima Solutions-Effisoft Group, the leading global InsurTech company, has released the new version of its Assuretat software for Solvency II compliance. Assuretat, reference software for insurance regulatory reporting, now takes into account the most recent European legislation in order to meet the latest EU compliance requirements asked to the Institutions for Occupational Retirement.
The IORP II (Institutions for Occupational Retirement Provision) directive, effective January 2019, regulates the activities and supervision of IORPs and introduces more favorable treatment for these organizations. To date, almost half of European Union member countries have adopted this directive, which provides for changes in reporting. All member countries are expected to soon adopt this new standard.
The latest version of Assuretat incorporates the new regulation, which covers more than 1,500 entities in Europe. Assuretat enables them to produce European, national and internal regulatory reporting compliant with the new requirements.
In France, implementation of IORP II is imminent. Organizations wishing to benefit from the more favorable regime for IORPs, also called SORFs in France (Supplementary Occupational Retirement Fund), will have to comply with new legislation, particularly in terms of reporting.
Prima Solutions-Effisoft Group’s 30 years of regulatory expertise made it possible to design the latest version of Assuretat that takes into account this evolution. It enables its users to always be in compliance.
"This new version is a testament to Assuretat's power. Available in French and English, it is the most advanced business software that takes into account the latest technological and regulatory developments. We are glad to offer this enriched version that will allow its users to ensure compliance for IORP," said Julien Victor, General Manager of Prima Solutions-Effisoft Group.
Assuretat is business software that enables insurance and reinsurance professionals to carry out national, European (Solvency II pillar 3) and internal regulatory reporting. Available in the cloud and equipped with a reliable audit trail, it enables the automation of reporting and ensures the traceability and auditability of data. For more than 30 years, Effisoft has been putting its technological and regulatory expertise at the service of its customers to offer the most complete and best-adapted tool for their needs.