Matmut chose Effisoft to meet Solvency II requirements
To ensure the transversal management of Solvency II related issues, MATMUT chose EFFISOFT as a solution-provider.
The insurer chose two software tools from EFFISOFT’s Solvaset offer:
- Ooliba: an actuarial calculation solution that meets the requirements of Pillar 1 with its module dedicated to the standard SCR / MCR calculation model.
- Assuretat : the leading regulatory reporting solution in the French market.
Ooliba will enable MATMUT to cover Pillar 1 needs thanks to the automation of SCR / MCR worksheets (standard formula), and will provide the insurer with an audit trail tool for calculation models.
In addition, Assuretat will cover Pillar 3 requirements by generating quantitative regulatory reports required by the European Insurance and Occupational Pensions Authority (EIOPA) and the French Prudential Supervision and Resolution Authority (ACPR).
Assuretat will enable MATMUT to::
- Produce the QRT (Quantitative Reporting Templates) reports in XBRL format
- Generate the prudential balance sheet, including accounting restatements under Solvency II and the calculation of the deferred tax
- Produce the national reports required by the ACPR
In parallel, MATMUT has extended its WebXL functional coverage (reinsurance software) by implementing the facultatives’ management module which will enable complete automation of the process of importing reinsurance information into Assuretat.
After the evaluation of other leading software providers in the market, MATMUT (second entity of SFEREN group) selected EFFISOFT solutions for Solvency II issues. The insurer chose EFFISOFT following the preliminary study meetings that demonstrated EFFISOFT’s understanding of Solvency II challenges and EFFISOFT’s capacity to fulfill the requirements of the project. As a result, MATMUT affirmed its confidence in EFFISOFT, whose teams have strong business expertise and have already successfully completed complex projects for MATMUT.
Marc Accos, CEO and co-founder of EFFISOFT, welcomes this collaboration with MATMUT: "As a leader in the regulatory reporting domain in France, we have always distinguished ourselves by our expertise and first-class support. We have improved our technology platform, enabling us to extend our offering to cover all Solvency II requirements. Today we remain a producer of excellence in the market and our prestigious references testify to that. We are very pleased to further work together with MATMUT, one of our familiar customers in regulatory reporting. The continuation of this collaboration shows that we have been able to adapt to the evolution of the market, and to preserve our commercial dynamism, as well as the reliability of our services".