Solvency II Toolkit

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Save time, empower your teams and effectively upgrade your processes with access to this practical Solvency II Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Solvency II related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Solvency II specific requirements:


STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Solvency II Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...


STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 996 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Solvency II improvements can be made.

Examples; 10 of the 996 standard requirements:

  1. Has the person been dismissed or resigned, upon request, from employment or from a position of trust, fiduciary appointment or similar capacity while holding a position as a Responsible Person?

  2. Will Solvency II act as a catalyst for insurers to seize the initiative, linked to the need to drive simplification, develop new products and new ways to interact with customers?

  3. Will your organization clarify what denominator will be used in determining the net percentage of contract work to be performed by or through certified subcontractors?

  4. What risk management and internal control systems do you currently have in place to identify and control all relevant risks to which your organization may be exposed?

  5. Has the undertaking made strategic decisions impacting the risk profile and regulatory capital requirement and overall solvency needs over the last financial year?

  6. How prepared is your organization for meeting the new disclosure and reporting requirements, particularly with regard to risk and capital management information?

  7. Will the impact of retroactive membership be analyzed periodically, with the results being used to adjust expected claims in the rate development process?

  8. Does the group structure provide enhanced services to customers, as enhanced risk management coverage for products and services, that avoid coverage gaps?

  9. How can insurers find the right balance between leveraging internal IT resources and applications and the technology offered by expert system providers?

  10. How does your business overcome the barriers holding back growth in the cyber insurance and reinsurance market and capitalise on its full potential?


Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Solvency II book in PDF containing 996 requirements, which criteria correspond to the criteria in...

Your Solvency II self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Solvency II Self-Assessment and Scorecard you will develop a clear picture of which Solvency II areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Solvency II Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:

 

STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Solvency II projects with the 62 implementation resources:

  • 62 step-by-step Solvency II Project Management Form Templates covering over 1500 Solvency II project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Scope Management Plan: Has appropriate allowance been made for the effect of the learning curve on all personnel joining the Solvency II project who do not have the required prior industry, functional & technical expertise?

  2. Initiating Process Group: Have the stakeholders identified all individual requirements pertaining to business process?

  3. Risk Management Plan: Market risk -will the new service or product be useful to your organization or marketable to others?

  4. Stakeholder Management Plan: Are changes in scope (deliverable commitments) agreed to by all affected groups & individuals?

  5. Probability and Impact Assessment: What are the uncertainties associated with the technology selected for the Solvency II project?

  6. Network Diagram: What must be completed before an activity can be started?

  7. Issue Log: Are stakeholder roles recognized by your organization?

  8. Scope Management Plan: Have all documents been archived in a Solvency II project repository for each release?

  9. Cost Baseline: Are procedures defined by which the cost baseline may be changed?

  10. Stakeholder Management Plan: Have adequate resources been provided by management to ensure Solvency II project success?

 
Step-by-step and complete Solvency II Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Solvency II project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:

  • 2.1 Solvency II project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Solvency II project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Solvency II project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan


3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log


4.0 Monitoring and Controlling Process Group:

  • 4.1 Solvency II project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance


5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Solvency II project or Phase Close-Out
  • 5.4 Lessons Learned

 

Results

With this Three Step process you will have all the tools you need for any Solvency II project with this in-depth Solvency II Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Solvency II projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Solvency II and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Solvency II investments work better.

This Solvency II All-Inclusive Toolkit enables You to be that person.

 

Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.